The “Global Urban Planning Software and Services Market By Component (Software and Services), By Deployment Type (Cloud-based and Web-based),
By End User (Government and Real Estate & Infrastructure Companies), By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027″ report has been added to ResearchAndMarkets.com’s offering.
The Global Urban Planning Software and Services Market size is expected to reach $190.97 billion by 2027, rising at a market growth of 5.1% CAGR during the forecast period.
Urban planning is a political and technical process that is aimed to design and develop urban environments like proper water, air, and the infrastructure passing outside and inside of urban regions like communications, distribution, and transportation networks and their accessibility. The major organizations operating in the u planning software and services market are witnessing various opportunities in transport planning. In addition, they are striving to enhance the performance of multi-model road infrastructure networks.
Planning includes the development and well-planned utilization of land and public welfare, and it also ensures the safety of the environment; this planning is considered to play a major role in the country’s development plans. Hence, it can be considered that urban planning is a complex and heterogeneous process, which includes distribution chains, infrastructure, communication networks, utility systems, and many different processes & elements.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic had a negative impact across various industries, including the planning software and services industry. There was a rapid increase in the number of COVID-19 patients, due to which WHO declared it a Public Health Emergency. Governments across the world formulated norms and regulations with an aim to curb the impact of COVID-19. Lockdown was imposed that led to the shutdown of businesses and also had a negative impact on the planning software and service market. Traveling was banned, which disrupted the supply chains. People were forced to stay in their homes and maintain social distance. However, various industries are recovering at a faster pace after the relaxation of the restrictions.
After a major downfall in the planning software and services market due to COVID-19, it is anticipated that in the upcoming years, this market will grow rapidly. Moreover, the demand for urban planning software and services is expected to witness an increase as the urban planning projects that were on halt will resume in the coming years.
Market Growth Factors:
Growing deployment of a centralized decision-making model
The governments across various nations are shifting from rigid decision-making to a centralized decision-making model, which is anticipated to boost the growth of the market in the coming years. In addition, various other urban planners are also deploying a centralized model that is more open to ecosystem partners and individuals that are the parts of the value chain.
Moreover, the companies that are involved in the urban planning software and services market are increasingly focusing on creating smart city ecosystems and offering quality-of-life benefits.
Huge demand from rapidly urbanizing cities
It is noticed that various nations across the world are rapidly developing and urbanizing, especially in China, and increasingly shifting towards digitalization. Digitalization has become a major concern for urban planners, especially in well-established nations. However, governments in such nations are largely focusing on fulfilling the extensive, complicated requirements of city infrastructure by adopting geographic information system technologies and tools.
Marketing Restraining Factor:
Lack of appropriate governance frameworks and urban planning
In the past years, cities have been continuously expanding and becoming burdened due to unplanned urbanization, thereby impacting the poor & the marginalized, the biodiversity & the economy. Moreover, the sudden outbreak of COVID-19 revealed that various cities require proper planning and management, majorly focusing on the health of the people residing in such cities. Major concerns such as traffic congestion, lack of availability of serviced land, pressure on basic infrastructure, urban flooding, water scarcity & droughts, and extreme air pollution reflect the infrastructural failure and lack of planning in the cities.
This article was shared with Prittle Prattle News as a Press Release.
