Market Insights Technology Software Productivity Software

Construction and Design Software - Lithuania

Lithuania

Revenue in the Construction and Design Software market is projected to reach US$2.79m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.83%, resulting in a market volume of US$3.12m by 2028.
In global comparison, most revenue will be generated in the United States (US$5,420.00m in 2024).

Key regions: Japan, South Korea, United States, Germany, France

Market

Region

Region comparison

Currency

Analyst Opinion

The construction and design software market in Lithuania has been steadily growing in recent years.

Customer preferences: Lithuanian customers are increasingly looking for software solutions that can streamline their construction and design processes. They are particularly interested in software that can help them to improve collaboration between different teams and stakeholders, as well as software that can provide accurate cost estimates and project timelines.

Trends in the market: One of the key trends in the Lithuanian construction and design software market is the increasing use of cloud-based solutions. This trend is being driven by a number of factors, including the growing popularity of remote work and the need for more flexible and scalable software solutions. Another trend is the growing use of Building Information Modelling (BIM) software, which is becoming increasingly popular among Lithuanian architects and engineers.

Local special circumstances: Lithuania's construction and design software market is heavily influenced by the country's geographical location and economic ties to other countries in the region. For example, Lithuania's close proximity to Russia has led to the adoption of some Russian software solutions in the Lithuanian market. Additionally, Lithuania's relatively small size means that many Lithuanian construction and design firms are looking to expand their operations internationally, which is driving demand for software solutions that can support international collaboration.

Underlying macroeconomic factors: The growth of the Lithuanian construction and design software market is being driven by a number of underlying macroeconomic factors. These include Lithuania's growing economy and increasing investment in construction and infrastructure projects. Additionally, Lithuania's membership in the European Union has helped to facilitate the adoption of international software solutions and best practices in the Lithuanian market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.