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Construction and Design Software - Saudi Arabia

Saudi Arabia

Revenue in the Construction and Design Software market is projected to reach US$22.43m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.01%, resulting in a market volume of US$22.44m 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

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Analyst Opinion

The demand for construction and design software in Saudi Arabia has been on the rise in recent years.

Customer preferences: Customers in Saudi Arabia are increasingly adopting construction and design software to streamline their project management processes. The software allows for greater collaboration between team members, reduces errors, and saves time and money.

Trends in the market: One trend in the market is the increased use of Building Information Modeling (BIM) software. BIM software allows for the creation of 3D models that can be used for design, construction, and maintenance of buildings. This software is becoming more popular in Saudi Arabia as it helps to reduce errors and increase efficiency in the construction process.Another trend is the growing popularity of cloud-based software solutions. Cloud-based software allows for greater flexibility and accessibility, as users can access the software from anywhere with an internet connection. This is particularly useful in Saudi Arabia, where many construction projects are located in remote areas.

Local special circumstances: Saudi Arabia has a large construction industry, with many large-scale projects underway. The government has been investing heavily in infrastructure projects, including the construction of new cities and the expansion of existing ones. This has created a significant demand for construction and design software in the country.

Underlying macroeconomic factors: One factor driving the growth of the construction and design software market in Saudi Arabia is the country's Vision 2030 plan. This plan aims to diversify the economy and reduce the country's reliance on oil revenues. As part of this plan, the government has been investing in infrastructure projects, which has created a significant demand for construction and design software.Another factor is the country's young and tech-savvy population. Saudi Arabia has one of the highest rates of internet and smartphone penetration in the world, and many young people are interested in pursuing careers in technology. This has created a fertile ground for the growth of the construction and design software market in the country.

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.