by 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.
Space planning software helps organizations effectively manage and optimize space usage. It allows users to create floor plans, track space utilization over time, analyze future space needs and align it with business objectives.
Market key trends:
One of the key trends in the space planning software market is the integration of analytics capabilities. Modern space planning solutions now offer real-time analytics and data visualization tools. These allow organizations to gain insights into space usage patterns, employee density, future space requirements etc. based on analysis of historical data. With analytics, actionable recommendations can be provided to optimize space allocation and facilitate better decision making.
SWOT Analysis
Strength: Space planning software helps facility managers better utilize existing space to maximize occupancy. It allows users to visualize space layouts digitally.
Weakness: Implementation of space planning software requires significant investment and time for proper training of staff members. Data migration from legacy systems can also be challenging.
Opportunity: Growing focus on workplace optimization and rising need to reduce real estate costs is driving the adoption of space planning software. Advancements in technologies like AI and IoT also allow for improved space utilization.
Threats: Open-source and free space planning tools can pose pricing pressure on established vendors. Economic slowdowns may lead organizations to delay software upgrades and investments.
Key Takeaways
The Global Space Planning Software Market Size is expected to witness high growth, exhibiting a CAGR of 8.1% over the forecast period, due to increasing demand for occupancy management and real estate portfolio optimization solutions from commercial spaces.
Regional analysis: North America dominated the market in 2023 with a share of around 35%, due to high technology adoption rates among enterprises. Asia Pacific is expected to be the fastest growing region on account of rapid infrastructure development and rising need for smart workspace solutions in expanding economies like China and India.
Key players operating in the Space Planning Software are Accruent, Archibus, FM:Systems Group, LLC, IBM TRIRIGA, iOFFICE, OfficeSpace Software, Planon, QuickFMS, and SPACEWELL INTERNATIONAL. Some major players are focusing on leveraging AI capabilities for automated space reconfiguration and optimization. For instance, in 2022, Accruent partnered with Anthropic to incorporate AI into its VR tools to better inform space planning decisions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
