Mechanical, Electrical, and Plumbing Software Market Forecast 2024: Industry Advances

"The Business Research Company recently released a comprehensive report on the Global Mechanical Electrical And Plumbing Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The mechanical electrical and plumbing software market size has grown rapidly in recent years. It will grow from $4.56 billion in 2023 to $5.06 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased demand for energy-efficient buildings, regulatory compliance, increasing urbanization, global construction boom, efficiency gains in project delivery, complexity of building designs..

The mechanical electrical and plumbing software market size is expected to see rapid growth in the next few years. It will grow to $7.56 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to renewable energy integration, focus on maintenance and facility management, global infrastructure investments, sustainable design and certification, data security and privacy measures.. Major trends in the forecast period include building information modeling (bim) integration, cloud-based solutions, mobile accessibility and field integratio, iot and smart building integration, focus on collaboration and communication..

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Market Drivers and Trends:

The increasing physical inactivity among women is expected to propel the growth of the menopause market going forward. Physical inactivity refers to the absence or minimal physical activity that refers to all activity, including mobility during leisure time, transportation to and from places, and moving as part of a person's job. The growing problem of physical inactivity among women during menopause contributes to a greater demand for products and services that address menopausal symptoms, health risks, and overall well-being. For instance, in September 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, the %age of women who had no physical activity increased by 7.9% from 213,555 in 2020 to 230,493 in 2021. Therefore, the increasing physical inactivity among women is driving the menopause market.

Major companies operating in the mechanical electrical and plumbing software market are adopting innovative technologies such as digital mechanical, electrical, and plumbing (MEP) workflow to provide reliable customer service. Digital mechanical, electrical, and plumbing (MEP) workflows use digital tools and technologies in mechanical, electrical, and plumbing (MEP) design to automate tasks, improve communication, and share information across the project team. For instance, in September 2021, Trimble Inc., a US-based software, hardware, and services provider, launched SysQue v8.3, a uniquely designed digital tool to drive greater efficiency in modeling workflows and digitizing MEP workflows from design to the shop floor. The ability to quickly configure wall assemblies, save configurations as business standards, and set them in the model at precise heights improves electrical efficiency and productivity. With the addition of the PypeServer interface, it can create pipe CAM files directly from the Revit model.

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Major Key Players of the Market:

Siemens AG, Schneider Electric, Ecolab Inc., EMCOR Group Inc., GDI Integrated Facility Services Inc., Dassault Systèmes SE, Autodesk Inc., Trimble Inc., Sage Group, AVEVA Group, Bentley Systems Incorporated, Caravan Facilities Management LLC, Knight Facilities Management Inc., Graphisoft SE, ProTenders Inv., Continuum Services, EDSA Micro Corporation, Camelot Facility & Property Management, Crockett Facilities Services Inc., CYPE Ingenieros SA, MEPcontent, BIM-ME, Choice Facility Services & Construction Inc., Dohn Engineering PLC, Assurance Facility Management Inc., eSUB Construction Software, Global Facility Solutions Inc., Priosoft Construction Software

Mechanical Electrical And Plumbing Software Market 2024 Key Insights:

• The mechanical electrical and plumbing software is expected to grow to $7.56 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising Demand For Energy-Efficient Buildings Fuels The Mechanical, Electrical, And Plumbing Software Market
• Residential Sector Growth Fuels Mechanical, Electrical, And Plumbing Software Market
• North America was the largest region in the mechanical electrical and plumbing software market in 2023. The regions covered in the mechanical electrical and plumbing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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