February 25, 2024

The Global Space Planning Software Market Is Driven By Rising Demand For Space Optimization

Space planning software helps organizations efficiently manage their facility space by allowing visualization of floor plans, tracking asset utilization over time, and planning optimized layouts. These solutions enable users to digitally plan and map office layouts, analyzing space usage and requirements. Organizations use space planning tools to maximize available space, improve workplace experience, and reduce real estate costs. Key features include floor plan drawing, capacity planning, space booking/reservation, utilization tracking, and 3D/virtual planning capabilities.

The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rapid urbanization and increasing construction of commercial office spaces have further boosted the adoption of these solutions to efficiently design and optimize floor layouts. Additionally, technological advancements in augmented and virtual reality have enabled integration of AR/VR capabilities in planning tools, allowing realistic visualization and spatial experience without physical constraints. This has significantly improved design workflows and decision making for future layouts.Cloud-based SaaS delivery model has also gained prominence as it offers benefits such as fast deployment, reduced upfront costs, seamless collaboration, and remote access. Major players are focusing on enhancing their cloud offerings and capabilities to gain market share.

Porter’s Analysis

Threat of new entrants: Low. Space planning software requires significant capital investment and industry experience. Existing key players have strong brand recognition and economies of scale.

Bargaining power of buyers: Moderate. Buyers have many options to choose from key players. However, switching costs are high for established buyers.

Bargaining power of suppliers: Low. Key players have global presence and in-house development capabilities. They are not dependent on few technology suppliers.

Threat of new substitutes: Low. Space planning software covers diverse functions from space allocation to asset management. No direct substitute exists currently.

Competitive rivalry: High. The market is dominated by few global players competing on technology differentiation, pricing, and customer experience.

Key Takeaways

The Global Space Planning Software Market Size is expected to witness high growth. The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.

Regional analysis: North America accounts for over 40% share due to presence of major players and technology hubs. Europe follows due to awareness about optimizing office spaces. Asia Pacific is witnessing fast adoption driven by growing real estate sector in China and India. Countries are focusing on attracting foreign investments through optimal use of spaces.

Key players: Key players operating in the space planning software market are Accruent, Archibus, FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon, QuickFMS, and SPACEWELL INTERNATIONAL. Players are focusing on product innovations through R&D and partnerships. They also offer cloud solutions for improved scalability and affordability.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it