Construction and Design Software - Kuwait

The Construction and Design Software market in Kuwait is expected to experience significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$3.68m Kuwaiti Dinar.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 0.62%.
By 2029, the market volume is projected to reach US$3.79m Kuwaiti Dinar.
In comparison to other countries around Worldwide, United States is expected to dominate the market in terms of revenue.
In 2024, United States is projected to generate a staggering US$5.42bn Kuwaiti Dinar in revenue.
This highlights the significant market potential and opportunities for growth in the Construction and Design Software market sector.
Kuwait's construction and design software market is experiencing a surge in demand due to the country's ambitious infrastructure projects.

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

The Construction and Design Software market in Kuwait has been experiencing significant growth in recent years.

Customer preferences: Kuwaiti customers have shown a growing interest in using construction and design software to improve their building processes. They are looking for software that can help them streamline their workflow and increase efficiency. Additionally, they are seeking software that is user-friendly and can be easily integrated into their existing systems.

Trends in the market: One trend that has emerged in the Kuwaiti market is the adoption of Building Information Modeling (BIM) software. BIM software allows architects and engineers to create digital models of buildings that can be used to optimize design and construction processes. Another trend is the increasing use of cloud-based software, which allows users to access their software and data from anywhere with an internet connection.

Local special circumstances: One factor that has contributed to the growth of the Construction and Design Software market in Kuwait is the government's focus on infrastructure development. The government has invested heavily in infrastructure projects, such as the construction of new airports and highways, which has led to an increase in demand for construction and design software.

Underlying macroeconomic factors: The Kuwaiti economy is heavily dependent on oil exports, which has led to fluctuations in government spending and economic growth. However, the government has recently implemented economic reforms aimed at diversifying the economy and reducing dependence on oil. These reforms have included investments in infrastructure and technology, which have contributed to the growth of the Construction and Design Software market.

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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