Construction and Design Software - Bangladesh

The Construction and Design Software market in Bangladesh is expected to witness substantial growth in the coming years.
By 2024, the projected revenue for this market segment is estimated to reach US$16.13m.
Furthermore, it is anticipated that the market will experience an annual growth rate of 8.18% from 2024 to 2029.
This growth trajectory is expected to contribute to a market volume of US$23.89m by 2029.
When compared globally, United States is projected to generate the highest revenue in the Construction and Design Software market.
In 2024, the revenue for this market segment United States is estimated to be US$5.42bn.
This indicates the significant presence and dominance of the United States in this industry.
The construction and design software market in Bangladesh is witnessing a surge in demand, as the country's infrastructure development projects continue to expand rapidly.

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

Construction and Design Software market in Bangladesh has been experiencing steady growth in recent years.

Customer preferences: Bangladesh is a developing country with a growing economy, and the construction industry is a crucial part of its development. Construction and Design Software helps architects, engineers, and construction professionals to design and construct buildings more efficiently and accurately. The software enables them to create 3D models, simulate building performance, and manage construction projects. The demand for Construction and Design Software has been increasing in Bangladesh due to the growing number of construction projects in the country.

Trends in the market: The Construction and Design Software market in Bangladesh is witnessing a shift towards cloud-based software. Cloud-based software offers several benefits such as easy access, scalability, and cost-effectiveness. Moreover, the adoption of Building Information Modelling (BIM) is also increasing in Bangladesh. BIM is a digital representation of a building that enables architects, engineers, and construction professionals to collaborate and share information throughout the construction process. The use of BIM helps to reduce errors, improve productivity, and increase efficiency.

Local special circumstances: The construction industry in Bangladesh is facing several challenges such as a shortage of skilled labor, lack of safety standards, and inadequate infrastructure. The adoption of Construction and Design Software can help to address some of these challenges. The software can help to improve productivity, reduce errors, and enhance safety standards. Moreover, the government of Bangladesh is also promoting the use of Construction and Design Software in the construction industry.

Underlying macroeconomic factors: The economy of Bangladesh has been growing at a steady pace in recent years. The construction industry is a crucial part of its development, and the government is investing heavily in infrastructure projects. The growing number of construction projects in the country is driving the demand for Construction and Design Software. Moreover, the increasing adoption of technology in the construction industry is also contributing to the growth of the market. The government of Bangladesh is also promoting the use of technology in the construction industry to improve productivity and efficiency.

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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