Global AEC Market Opportunities and Forecast, 2021-2028
Global AEC Market Opportunities and Forecast, 2021-2028
AEC Market Statistics—2028
The global AEC market size was valued at $7,188.00 million in 2020, and is projected to reach $15,842.00 million by 2028, growing at a CAGR of 10.7% from 2021 to 2028. Architecture, engineering, and construction software is used by real estate companies, construction firms, surveyors, interior designer, and mechanical & electrical piping engineers for effective project life cycle management. Key objective of architecture, engineering, and construction software is to enhance project performance and produce better outcomes. AEC helps construction managers to gather data and information from relevant disciplines and communicate more effectively. Enhanced data communication and coordination among various stakeholders, architectures, and construction supervisors is coupled with improved construction productivity to provide a leading edge to AEC users.
Depending on deployment mode, the on-premise segment dominated the AEC market share in 2020, and is expected to continue this trend during the forecast period. The growth of this segment is attributed to rise in concerns about security of data associated with construction projects, which is highly valuable. Larger firms in the AEC industry provide on-premise software for their customers in industrial, infrastructure, and residential sectors. However, the cloud segment is expected to witness highest growth in the upcoming years as it does not involve capital cost as well as has low maintenance requirements, hence is most preferred by mid-sized financial institutions.
On the basis of enterprise size, the large enterprises segment dominated the market share globally in 2020, and is expected to continue the same during the forecast period. The growth is attributed to rise in use of cutting-edge technology such as augmented reality and virtual reality in large scale enterprises, which needs AEC.
North America generated highest revenue in 2019, and is expected to continue this trend during the forecast period. This is attributed to rapid growth in the construction and infrastructure sector such as adoption of artificial intelligence and rise in need for automation in the construction and architecture sector. However, Asia-Pacific is expected to exhibit highest growth during the AEC market forecast period as adoption of AEC software is prominent in this region, owing to growth in the construction sector in this region. Surge in multi-story buildings and skyscrapers as well as ongoing developments in infrastructure in this region are expected to be key factors facilitating growth of the AEC market.
Segment review
AEC market is segmented into component, deployment mode, enterprise size, application, and region.
- By component, it is bifurcated into software and service.
- Depending on deployment mode, it is categorized into on-premise and cloud.
- On the basis of enterprise size, it is categorized into large enterprises and small & medium size enterprises.
- As per application, it is classified into construction & architecture companies, education, and others.
- Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top impacting factors
Numerous factors such as growth in infrastructure projects, owing to rapid urbanization and increase in productivity through exchange of information drive the market globally. Furthermore, mandatory rules and regulations applied by government authorities for the use of AEC software also drives the market globally. However, high initial cost of implementation of AEC software and lack of skilled workers in the industry restrain the market globally. Furthermore, growth in adoption of AR and VR in the construction industry and rise in implementation of IoT in numerous construction projects are expected to create AEC market opportunity market during the forecast period.
Increase in infrastructure projects
As population is increasing globally, demand for construction of buildings, malls, and offices, owing to launch of projects such as smart cities and high-speed roads, is on the rise. Hence, to operate these projects seamlessly and efficiently, key players are adopting AEC software. The construction industry has witnessed rapid growth in the Middle East and in most developing countries of Asia- Pacific such as India and China.
Source: The indicators are extracted from Allied Market Research report as a reference for market forecast.
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Atlas has attained Cyber Essentials certification with the UK government-backed scheme led by the National Cyber Security Centre in association with IASME Consortium.
Cyber Essentials is an independently verified self-assessment certification which demonstrates our commitment to a recognised standard of cyber security.
As a provider of BIM modelling, documentation support and project delivery services to the architecture, engineering, and construction industry it is essential that we provide our clients with the assurance that their data is secure.
Click here to learn more about Cyber Essentials certification.
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Atlas is delighted to welcome Khaled Kotb and Maziar Hosseinian to the engineering team. Khaled joins as MEP Associate Director and Maziar as Structural Engineering Associate.
The appointments add to the wide-ranging capability of Atlas’ engineering team who partner with some of the world’s leading consultants and contractors to help improve documentation quality, deliver larger more complex projects and to become more competitive in the marketplace.
Director of Engineering Dr Khoa Tran Kim said, “We are delighted to welcome both Khaled and Maziar to Atlas. As MEP Associate Director, Khaled plays a pivotal role in overseeing the successful execution of large-scale, complex, and multi-disciplinary projects. His technical prowess, combined with exceptional management skills, ensures that our clients receive the highest level of service and project delivery.
Maziar's expertise is in the design and lateral stability analysis of RC high-rise structures utilising advanced analytical methods and the design of structural steel industrial and mining buildings. He is a great addition to the team, overseeing peer reviews, mentoring, and coaching junior engineers in computer modelling and design verifications.”
Prior to joining Atlas Khaled was MEP Senior Manager at Hyundai Engineering and Construction working on the Hanoi Pilot Metro Line PC03 (underground section Hanoi), Vietnam.
Maziar previously held senior/lead structural engineer roles with Australian-based organisations including Taylor Thomson Whitting and SMEC International.
Atlas welcomes both Khaled and Maziar to the company.
About Khaled Kotb
Khaled has over 20 years of professional experience in electrical and mechanical engineering, project management, site supervision, design, value engineering and contract conditions. Since gaining his qualifications from Cairo University he has worked in Egypt, the United Arab Emirates, Hong Kong and Vietnam. His multilingual capabilities in English, Arabic, Tagalog, and French are an advantage to effectively communicate and collaborate with our global clients.
In sharing his vision for the industry and working at Atlas, Khaled said: “Atlas is a well-established organisation with excellent systems. As a team, we combine human values, integrity, and honesty with MEP industry expertise to provide the highest level of performance and professionalism to our clients’ projects.”
With his project experience encompassing all stages of the project lifecycle – concept design, procurement, construction, installation, testing and commissioning – Khaled has successfully delivered electrical and mechanical solutions for rail, high-rise residential and mixed-use, hotels and resorts, healthcare, leisure and industrial projects. He has considerable knowledge of global electrical, electronic and related technologies, standards and codes, including IEC, NEC, BS, NFPA and FIDIC.
khaled.kotb@atlasindustries.com
About Maziar Hosseinian
Maziar is a structural engineer with 14 years’ experience. He gained his Master of Engineering Science in Structural Engineering from the University of New South Wales, Australia.
Upon joining Atlas Maziar said “Coming from an engineering design background in Australia I have been struck by how well informed the Atlas team is of high-level international standards. They are well capable to compete and hold up their own in the global engineering consultancy market and add considerable value to their client’s projects.”
Maziar’s professional experience includes numerous residential, commercial and industrial buildings in Australia and South East Asia. He has extensive knowledge of reinforced concrete, post tensioned and precast concrete and structural steel structures in addition to shallow and deep piled footing systems. Maziar is knowledgeable in the quality control of design and directing the design to value engineering standards and efficient constructability.
maziar.hosseinian@atlasindustries.com
The Atlas team has just secured the third position in the prestigious INNOVATOR OF THE YEAR category at the recent Autodesk ASEAN Innovation Awards 2023 (AAIA). The accolade was awarded in recognition of the team’s great work on the Hong Kong International Airport Terminal 1 project, which exemplified the transformative power of digital technology in the AEC industry.
The team was entrusted by the Airport Authority Hong Kong (AAHK) to embark on the first phase of the airport's digital twin journey. Their objective was to develop an as-built asset-rich BIM model of Terminal 1, which would serve as a comprehensive asset and facilities management tool, as well as a visualization aid for future expansion and development endeavors.
To accomplish this feat, Atlas harnessed the capabilities of several Autodesk solutions, including ReCap, Revit, BIM360, Navisworks, and Dynamo. During the programme, the team meticulously validated an immense volume of data, consisting of over 10,000 folders, 500,000 files, and a staggering 391GB of information, successfully generated and aligned more than 3,000,000 BIM geometries.
A key highlight of the project was the seamless collaboration of over 50 professionals across various disciplines, showcasing excellent teamwork and project management skills. This synchronized effort ensured the integration of multiple facets of the project, ultimately contributing to its success.
David Llorente - Digital Director and the Digital team represented Atlas at the AAIA event. David delivered a presentation on the award-winning project and participated in a round table discussion to share the ideas of cutting-edge advancements in design, technology, and application within the industry.
The advantages in digital transformation, understanding the technology and its potential to revolutionize the way we envision and create the built environment, were also discussed on the sidelines of the conference.
This recognition garnered by the Atlas team at the Autodesk ASEAN Innovation Awards 2023 is a testament to our unwavering commitment to embracing digital transformation and leveraging innovative technologies. This remarkable achievement serves as an inspiration to the team, highlighting the developments of BIM and digitalization in driving productivity and enhancing project workflows.