MEP Software Market Size, Share, Growth, and Industry Analysis By Type (BIM MEP Software and CAD MEP Software) By Application (Construction Industry, Electrical Industry, Mechanical Engineering, Plumbing Industry, and Others), Regional Insights, and Forecast To 2032

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MEP Software Market REPORT OVERVIEW

Global MEP software market size was USD 1.19 billion in 2023 and is projected to touch USD 3.03 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period 2024 To 2032.

MEP stands for mechanical, electrical, and plumbing. MEP software is a subset of CAD software planned primarily for users in the MEP professions to improve the overall design of the projects. The design calculation must be accurate when engineers develop a building's infrastructure, whether connected to heating and cooling or electrical circuits. Therefore, mechanical, electrical, and plumbing design necessitates careful planning and trained engineering personnel. The software enables engineers to deconstruct and visualize these complicated designs, optimizing overall workflows and accelerating project design from start to finish. It is expected to boost the MEP software market's growth. 

One of the primary reasons for using MEP software is to strengthen teamwork. With a single design at the core of an engineering project, everyone in the team can pitch in and assist wherever required. It allows everyone to keep track of the design's progress and collaborate on projects, streamlining the workflow. A design in 3D software, such as MEP, is a visual tool for firms to show their clients. When a customer hires a team of engineers to create a design, they must often articulate their requirements in detail. Engineers can combine sustainability needs and commercial features that clients require into the design structure with these objectives in mind. After engineers complete the design in 3D software, it can be easily exhibited to clients, and they can collaborate to address problems by fiddling with it in 3D.

COVID-19 Impact: Halt on Construction Activities to Slower Market Growth

The COVID-19 pandemic had an impact on the MEP software market in terms of supply chain interruptions. Due to plant shutdowns, lead times for some products have increased. However, due to the impact of COVID-19 on the corporations and government organizations that commissioned them, some building projects have been delayed or canceled in the present market scenario. The way projects are developed and built has been forever altered by technological advancements. Using MEP design software, plumbing and mechanical engineers can now create more sophisticated and collaborative designs in much less time. While these technologies on the rise in the construction industry in recent years, the COVID-19 epidemic has accelerated the number of enterprises adopting and implementing software solutions.

LATEST TRENDS

"Rising Technological Advancements to Boost Market Growth"

Modern technology makes it easier to handle complex, major projects by using linked job sites that use cloud-based software, mobile devices, and connected equipment. Project teams may freely and effectively transfer data between the office and the field in real-time with a cloud-based collaborative tool. Collaboration via the cloud means that information is quickly shared, interpreted, and accessible throughout the project. Trade groups, such as MEP contractors and engineers, may coordinate, interact, and work more effectively with better visibility.

Additionally, IoT refers to physical devices linked to the Internet and exchanging data without the intervention of humans. Being one of the world's fastest expanding technologies, IoT makes its way into the MEP business. With sensors to produce input and triggers to generate output, data-rich BIM lays the groundwork for IoT. MEP contractors utilize IoT to track progress on construction sites in real-time, collecting and visualizing data in a 3D model. For example, it can be used to determine where a valve is linked to a pump and monitor and predict its performance and maintenance. Therefore, these factors are likely to foster the MEP software market progress. 

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MEP Software Market Segmentation

• By Type Analysis

By type, the market is segmented into BIM MEP Software and CAD MEP Software

The BIM MEP segment is expected to lead the market. Engineers can use this software for BIM to observe how any change to the plumbing and electrical affects the building's overall energy flow. It enables engineers to concentrate on energy, solar research, and heating and cooling analyses for their developing building. These factors are likely to foster market growth during the coming years. 

• By Application Analysis

Based on application, the market is divided into Construction Industry, Electrical Industry, Mechanical Engineering, Plumbing Industry, and Others

The Construction segment is expected to lead the market. Manufacturing, mining, and a range of MEP services all have a construction as a major consumer. Therefore, these factors can propel market growth. 

DRIVING FACTORS

"Increasing Demand from New Constructions to Boost Industry Progress"

The construction sector is a prominent buyer in manufacturing, mining, and a variety of MEP services. During the recession, it is also considered a crucial economic reviver. Since the third quarter of 2020, the residential construction sector has been the star performer in the United States' economic recovery. The market is expected to generate double-digit growth rates and contribute significantly to the economy's resurgence and overall construction industry growth. During the COVID-19 phase, many building projects were accelerated to take advantage of the lockdown opportunity, resulting in higher revenue. These factors may propel the MEP software market growth. 

"Rising Demand from Healthcare to Foster Progress of the Market"

The healthcare sector is viewed as one of the most important for economic development. However, it faces a major challenge in healthcare institutions due to inadequate planning and resources. Therefore, end-users in the healthcare sector are beginning to see the value of MEP services in leveraging facility inefficiencies. Furthermore, each department in a healthcare facility has its own set of requirements. The current COVID-19 pandemic has exposed the lack of pandemic awareness and the health system's disparities. The healthcare infrastructure cannot accommodate COVID-19 patients, and fewer hospital beds are available in developed countries. Therefore, these occurrences are projected to increase demand for MEP services as regional governments devote more resources to developing efficient medical facilities.

RESTRAINING FACTORS

"Low Level of Digitization in Construction Industry to Impede Market Growth"

The construction business has a lower level of digitization than other industries. Large-scale construction projects are frequently reported to take longer to complete and run over budget, resulting in reduced financial returns for contractors. Furthermore, lower digitization reduces productivity because the construction industry has been unable to implement process and technology advancements.

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MEP Software Market REGIONAL INSIGHTS

"Presence of Prominent Players to Facilitate Market Growth in North America"

Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. 

North America is expected to dominate the MEP Software market share. The United States and Canada are the two primary countries in this region that drive the industry. Some of the key factors that make the region dominant in the global mechanical, electrical, and plumbing (MEP) software market are the increased influence of market leaders such as Autodesk, Inc., Trimble Inc., Bentley Systems, Incorporation, and others as the early adopters of the technology pattern.

The Asia Pacific is expected to hold the second-largest market share. The growing urbanization of Asia Pacific countries has increased the demand for new buildings, which, in turn, fuels the region's MEP software industry. Moreover, improved government spending on smart city projects is likely to boost market growth.

KEY INDUSTRY PLAYERS

"Companies Invest Heavily in Research and Development Activities to Improve Brand Position"

The market appears to be fragmented, with several vendors present. This market report will aid customers in discovering new growth opportunities and building distinct business strategies by offering a complete analysis of the industry's competitive landscape and information on the products offered by competitors. Mergers and acquisitions, expansions, investments, new service launches, and collaborations are among the companies' favored techniques for exploring the market. Players are expanding and acquiring businesses in new geographies to get a competitive edge through interaction.

LIST OF TOP MEP Software COMPANIES

• MagiCad
• Autodesk
• Trimble
• Nemetschek
• Bentley Systems
• COINS Global
• eVolve MEP
• Witas
• Exactal
• On Center Software
• Design Master Software
• Stack
• Causeway
• ProgeCAD
• ePROMIS Solutions
• Renga Software

INDUSTRY DEVELOPMENT

• August 2020: eVolve MEP, a U.S.-based company, announced a partnership with Autodesk and GTP Services. To provide a more comprehensive manufacturing process that will enable MEP contract workers to work more effectively. This organization will support contractual workers to build more secure working conditions, completing tasks on time, combating the skilled labor shortage, and increasing overall venture effectiveness and benefit.

REPORT COVERAGE

The report covers the following topics in detail: business overview, financials, revenue produced, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, and application dominance.