Space planning software helps organizations manage spatial assets like office spaces, workstations, meeting rooms, and improve utilization. These software incorporate floor maps, track assets and occupancy in real-time.
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:
The growing demand for workplace optimization due to shifting work patterns like remote and hybrid working models is driving increased adoption of space planning software. These software help organizations analyze space usage, plan workspace allocation as per employee strength, and track utilization of assets in real-time. This has become important for companies to optimize real estate costs and employee experience. The software incorporates digital floor maps and collects data through sensors to gain insights about occupancy and space heat maps. This helps office administrators and facility managers make data-driven decisions for space planning and reconfiguration. Furthermore, integration of technological features like AI and AR/VR is helping space planners visualize and simulate layouts digitally before implementation. This is improving the space planning process and allowing "what-if" scenario planning. Major space planning software vendors are focusing on advancing their solutions capabilities with new technologies to capture this growing demand from organizations.
Segment Analysis
The global space planning software market is dominated by the commercial segment. The commercial segment includes retail stores, malls, offices, and others. With increasing construction of commercial spaces such as malls, retail outlets, co-working spaces, and others, the demand for space planning software is high from this segment. Space planning software help facility managers and architects efficiently plan and design commercial spaces.
Key Takeaways
The global space planning software market analysis is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 13% during the forecast period to reach a size of US$ 967.43 Mn by 2024 from US$ 499.23 Mn in 2022.
Regional analysis
The space planning software market in North America is the fastest growing region. The high adoption of advanced facility management solutions across industry verticals is driving the demand for space planning software in the region. The presence of key players and availability of advanced IT infrastructure are supporting the growth of the space planning software market in North America. Asia Pacific is expected to be the dominating region owing to increasing construction activities in countries such as India and China.
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. Accruent dominates the market and offers cloud-based space management software for asset management. IBM TRIRIGA offers space planning software to effectively manage complex multi-site portfolios.
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