Construction and Design Software - Armenia

The Construction and Design Software market in Armenia is expected to achieve a revenue of US$1.41m in 2024.
With an annual growth rate (CAGR 2024-2029) of 4.71%, the market volume is projected to reach US$1.77m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$5.42bn in 2024.
Armenia's construction and design software market is experiencing a surge in demand, driven by the country's rapid urbanization and infrastructure development.

Definition:

The Construction and Design Software market covers software applications in areas such as Computer-Aided Design (CAD), Manufacturing (CAM), and Product Lifecycle Management (PLM) that are used for tasks such as building design, product modeling, product management, manufacturing scheduling, and cost estimating.

Products in the Construction and Design Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Construction and Design Software market comprises revenue and revenue growth as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Autodesk and Dassault Systems.

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Computer-aided design (CAD) software, such as AutoCAD, Solidworks, and Onshape
Computer-aided manufacturing (CAM) software, such as Siemens, Fusion 360, and Desktop Metal

Free-of-charge software, such as Airtable, Anaplan, and BlackLine
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

Armenia, a country in the South Caucasus region of Eurasia, is experiencing a steady growth in the construction and design software market.

Customer preferences: Armenian customers are increasingly seeking software solutions that enhance their productivity, improve their design capabilities, and reduce their costs. They are looking for software that can provide them with 3D modelling, project management, and collaboration tools. Additionally, customers are interested in software that can handle the complexities of large-scale projects, such as building information modelling (BIM) software.

Trends in the market: The construction and design software market in Armenia is experiencing a trend towards cloud-based solutions. Cloud-based software provides customers with flexibility, scalability, and cost-effectiveness. Furthermore, it allows for easy collaboration between team members, regardless of their location. Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. These technologies can streamline the design process, automate repetitive tasks, and improve accuracy.

Local special circumstances: Armenia has a growing construction industry, with a focus on infrastructure development, residential construction, and tourism. The government has implemented various initiatives to support the construction industry, such as tax incentives and streamlined permitting processes. Additionally, Armenia has a highly skilled workforce, with many engineers and architects who are proficient in software design tools. This has created a demand for software that can meet the needs of a technically proficient workforce.

Underlying macroeconomic factors: Armenia has a stable economy, with a GDP growth rate of around 5% per year. The government has implemented various economic reforms to encourage foreign investment and promote entrepreneurship. Additionally, Armenia has a strategic location, with access to major markets in Europe and Asia. This has made it an attractive location for businesses in the construction and design software market. Furthermore, Armenia has a relatively low cost of living, which has made it an attractive location for software development outsourcing.

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.

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