by Space planning software helps organizations optimize the utilization of their available office or commercial space by enabling floor plan design and management. It offers efficient space allocation, reservation of amenities and resources, shift scheduling and enhances productivity by reducing space wastage.
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 surge in demand for effective space management solutions across industries such as corporate real estate and facility management is a key trend fueling the growth of the space planning software market. Space planning software assists organizations efficiently plan and allocate available office space based on employee count, office furniture, and equipment requirements. It aids in floor planning, tracking real estate assets, managing movable walls and reservations. The adoption of space planning software is increasing as it offers advantages such as improved utilization of existing office infrastructure, minimized vacancies, optimized lease obligations and reduced overhead costs. Major software vendors are focusing on integrating new features like AR/VR capabilities and remote office space planning to make their tools more effective and appealing to clients.
SWOT Analysis
Strength: Space planning software helps facility managers plan and optimize the use of space efficiently. It allows tracking space utilization over time.
Weakness: Initial investment and implementation costs associated with space planning software can be high. Lack of digitization in some organizations is also a challenge.
Opportunity: Growing need to optimize space utilization is driving demand. Large organizations across industries are adopting these solutions. Remote working trends also create opportunities.
Threats: Open source and free space planning tools can erode margins of paid vendors. Delays in projects may impact vendor reputation.
Key Takeaways
The Global Space Planning Software Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Space Planning Software Market is estimated to be valued at US$ 967.43 Mn in 2024and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Regional analysis comprises North America accounts for the largest share of the space planning software market currently. Rapid adoption of tech solutions across industries support market growth. Europe and Asia Pacific are also growing markets with increasing spends on office optimization solutions.
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 and Archibus currently have the largest market shares. Players focus on adding new features like integration with other facility management solutions to expand client base. Partnerships with consulting firms also help reach more customers. The market is expected to become more competitive as adoption increases globally over the coming years.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
