The global Urban Planning Software And Services Market size is anticipated to reach USD 192.35 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.2% from 2021 to 2028. Urban planning is one of the most crucial aspects of any country’s development plans as it involves the development and efficient use of land, public welfare, and ensures the safety of the environment. Urban planning is a heterogeneous and complicated process that comprises utility systems, distribution chains, communication networks, infrastructure, and several other elements and processes. Urban planners are adopting urban planning software and services to handle such intricate processes and conceptualize urban designs and plan layouts.
The Covid-19 pandemic severely impacted business
operations and processes across several industries. As governments majorly
diverted their focus from other development activities to the healthcare
segment, the urban planning software and service market was negatively
impacted. However, the urban planning software and services industry is
expected to recover post-pandemic owing to the need for better urban planning
to mitigate future risks of uncertain natural events.
The market has also benefitted from growing
investments by various governments in smart cities projects, which, in turn,
are driving increased investments in urban planning software and services. For
instance, currently, over 26 smart cities projects are in progress across
Association of Southeast Asian Nations (ASEAN) countries.
Related Press Release @ Urban Planning Software And Services Market Report
Urban Planning Software And
Services Market Report Highlights
- In terms of component, the software segment accounted for the largest
revenue share in 2020 and is expected to retain its dominance over the
forecast period. This can be attributed to the increasing investment in
technology by governments for urban development. The service segment is
anticipated to expand at the highest CAGR of 5.1% over the forecast period
- In terms of deployment, the cloud-based segment accounted for the
largest revenue share in 2020 and is expected to retain its dominance over
the forecast period. Additionally, this segment is likely to register the
highest CAGR of 4.5% over the forecast period. The growth of this segment
can be attributed to factors such as quick configurability, cost
efficiency, and flexibility
- Based on end-user, the government segment accounted for the largest
revenue share in 2020 and is expected to retain its dominance over the
forecast period. This can be attributed to growing investment by various
governments in smart city technologies and urban development. For
instance, in June 2020 the Singapore Government Technology Agency announced
that it spent approximately USD 3.5 billion on information technology in
2020, which is 30% more compared to 2019. The real estate and
infrastructure companies segment is anticipated to expand at the highest
CAGR of 4.9% over the forecast period
- Europe captured the second highest market in 2020 and is expected
to retain its position over the forecast period. This can be attributed to
the growing preference for eco-friendly city infrastructures.
Additionally, a rise in the number of infrastructure development
activities is also driving the market growth in this region. The Asia
Pacific region dominated the market in 2020, and it is anticipated to
expand at the highest CAGR of over 6.1% over the forecast period
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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