Construction and Design Software - Vietnam

The Construction and Design Software market in Vietnam is expected to witness significant growth in the coming years.
According to projections, the revenue of this market is expected to reach US$9.33m in 2024.
Furthermore, it is anticipated that the market will exhibit a strong compound annual growth rate (CAGR) of 6.47% from 2024 to 2029, resulting in a market volume of US$12.77m by the end of 2029.
In comparison to other countries, United States is projected to generate the highest revenue in the Construction and Design Software market, with an estimated value of US$5.42bn in 2024.
Vietnam's construction and design software market is experiencing a surge in demand due to 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

The Construction and Design Software market in Vietnam has been experiencing a steady growth over the past few years.

Customer preferences: Vietnam's construction and design industry has been rapidly growing and modernizing, which has led to an increased demand for construction and design software. Customers in Vietnam are looking for software that is efficient, user-friendly, and cost-effective. They are also looking for software that can help them manage their projects from start to finish, including design, planning, and construction.

Trends in the market: One of the key trends in the Construction and Design Software market in Vietnam is the shift towards cloud-based software solutions. This trend is driven by the increasing need for mobility and flexibility in the construction industry. Cloud-based software allows users to access their data and applications from anywhere, at any time, using any device with an internet connection. Another trend in the market is the integration of Building Information Modeling (BIM) technology into construction and design software. BIM technology allows users to create digital models of buildings and structures, which can be used to simulate various scenarios and analyze the impact of different design decisions.

Local special circumstances: Vietnam's construction industry is facing a number of challenges, including a shortage of skilled labor and a lack of transparency in the procurement process. These challenges are driving the adoption of construction and design software in Vietnam. Software solutions can help companies streamline their operations, reduce costs, and improve the quality of their work. Additionally, the Vietnamese government has been investing heavily in infrastructure projects, which has created a lot of opportunities for companies in the construction and design software market.

Underlying macroeconomic factors: Vietnam's economy has been growing rapidly over the past few years, driven by strong exports and foreign investment. This growth has led to an increase in demand for construction and infrastructure projects, which has in turn driven the growth of the Construction and Design Software market. Additionally, Vietnam's young and tech-savvy population is driving the adoption of new technologies, including construction and design software. Finally, Vietnam's strategic location in Southeast Asia makes it an attractive destination for companies looking to expand their operations in the region.

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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