Cloud Backup Is Fastest Growing Segment Fueling The Growth Of Space Planning Software Market

 


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 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Space planning software helps organizations to effectively plan and optimize the use of available space like office spaces, retail stores, warehouses etc. It provides asset management, utilization tracking and space requests to boost productivity.

Market key trends:
adoption of cloud-based space planning solutions is growing rapidly. Cloud deployment provides benefits such as scalability, easy accessibility, low upfront costs and no requirement for additional IT infrastructure. It allows real-time data sharing and collaboration between teams working remotely. Growing workforce mobility is a key driver for cloud-based space planning software.

Segment Analysis:
The space planning software market is segmented by component (software and services), deployment (cloud-based and on-premise), application (real estate and property managers, healthcare, retail, public sector, higher education, and others), and organization size (small and medium-sized enterprises and large enterprises). The software segment dominates the market as space planning software aids organizations in analyzing space utilization, allocating space, tracking relocations, managing lease activities, and enhancing workplace experience through functions like 3D visualization, occupancy tracking, and cost allocation.

Key Takeaways
The Global Space Planning Software Market Size is expected to witness high growth, exhibiting CAGR of 8.11% over the forecast period, due to increasing demand for space optimization and cost savings.

Regional analysis: North America dominates the market currently due to rapid technological advancements and presence of key players in the region. However, Asia Pacific is expected to grow at a highest CAGR during the forecast period owing to growth of real estate and construction industries in developing countries such as China and India.

Key players: Key players operating in the space planning software market include Accruent, Archibus, FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon, QuickFMS, and SPACEWELL INTERNATIONAL. Accruent leads the market due to its wide range of SaaS solutions for management of built environment including space management and optimization.

Read More: https://www.ukwebwire.com/space-planning-software-market-size-share-and-growth-forecast-2023-2023/

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