Space planning software refers to tools that help organizations plan how they utilize their physical spaces such as offices, retail stores, schools, and other facilities. Space planning software allows users to visualize their existing floor plans, reconfigure spaces digitally, incorporate future staffing and operational plans, and ensure compliance with building codes and construction standards.Key features include infrastructure mapping, real-time occupancy monitoring, space reservation tools, analytics for capacity utilization, VR/AR for virtual experiences, predictive space requirement forecasting, and integration with other facility management systems.
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 Dynamics:
As real estate costs continue to rise globally, organizations are under increasing pressure to optimize usage of their existing facility footprints. Space planning software allows evaluation of different layout options digitally before executing changes on the ground, minimizing construction costs and disruption to operations. Another driver is the flexibility and scalability offered by cloud-based SaaS models for space planning tools.This has widened their appeal beyond large enterprises to mid-sized and smaller firms with limited in-house IT resources. The shift towards activity-based working also fosters demand, as these open floor plan designs require dynamic space allocation per employee and project.
Segment Analysis
The global space planning software market is dominated by the cloud segment. Cloud-based space planning software solutions offer various advantages over on-premises solutions such as low upfront costs, scalability, mobility and easy deployment. These solutions are hosted on remote servers and accessed online through browsers or desktop/mobile applications without needing to install and maintain the software. Most space planning software vendors are offering or shifting their solutions to cloud-based models in order to stay competitive.
PEST Analysis
Political: Governments across countries are promoting digital transformation initiatives for private and public sector organizations to drive innovation. This has accelerated the adoption of facility and space management software.
Economic: Growth in the commercial real estate sector and rise in construction of intelligent buildings are increasing the demand for space planning software from architecture, engineering and construction companies to efficiently manage assets and work spaces.
Social: Changing work culture and rise of shared workspaces have led organizations to optimize their facility footprints using space planning software to improve productivity. Technological: Advancements in IoT, analytics and VR/AR are enabling space planning software to provide predictive maintenance of assets as well as virtual previews of designed spaces before implementation.
Key Takeaways
The Global Space Planning Software Market Size is expected to witness high growth over the forecast period driven by increasing construction of digital workplaces. 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
The North American region dominates the global space planning software market owing to strong infrastructure for digital technologies and presence of major space planning software providers in the US and Canada. Public and private sector organizations are actively investing in facility management software to optimize utilization of existing infrastructure.
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. These vendors are focusing on enhancing their solutions through continuous innovation and strategic acquisitions.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it