PUBLISHER: Grand View Research | PRODUCT CODE: 1363009
PUBLISHER: Grand View Research | PRODUCT CODE: 1363009
The North America residential ductwork design software market size is expected to reach USD 450.7 million by 2030, expanding at a CAGR of 5.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market growth is driven by significant investment into smart infrastructure development and an upsurge in demand for HVAC systems to create more sustainable residential buildings. According to the International Energy Agency (IEA), digitalization or automation of buildings could cut total energy usage in residential buildings between 2017 and 2040 by as much as 10%.
Demand for more efficient heating and cooling systems in residential premises is a primary driver of this industry. Homeowners are increasingly seeking methods to minimize their energy use and save money on their utility bills as they become more aware of energy-efficient devices' environmental and financial benefits. This has increased demand for ductwork design software, which may assist homeowners and contractors in designing and installing efficient HVAC systems. The increase in new building projects is another element driving the growth of the North American residential ductwork design software industry. With the increasing demand for new houses, developers and builders seek methods to simplify operations and cut costs.
Platform providers like Microsoft Corporation, SAP SE, and Oracle Corporation work closely with their partners to provide next-generation ductwork design solutions and combine the technology, service, and equipment essential for creating seamless solutions. System and network integrators play a vital role in the value chain. They are involved in developing and integrating applications within the system and network. They have the relevant experience and necessary resources, such as data centers, to provide comprehensive customer support.
Stringent energy efficiency regulations and sustainability standards imposed by governments and industry bodies have driven the need for energy-efficient HVAC systems. Designers must adopt solutions that align with these regulations, making energy-efficient design markets indispensable. Energy-efficient HVAC systems lead to reduced energy consumption and operational costs. Businesses and building owners are increasingly aware of the long-term financial benefits of lower energy bills, prompting a demand for ductwork design software that prioritizes energy efficiency. Ductwork design software has evolved with advancements in simulation technology, computational fluid dynamics, and artificial intelligence. These advancements enable accurate prediction of airflow behavior, leading to the identification of energy-efficient design strategies.
The major players in the market include Autodesk, CAD International, Trane, Graphisoft, Elite Software Development, and among others. These market players were ranked according to the key strategies they employed to maintain a competitive edge in the market, their product offerings, the applications segment they served, the sophistication of their technology, their strategy to differentiate their products, and their industry impact. The key strategies include strategic collaborations, partnerships, and agreements; new product development; capability expansion; mergers & acquisitions; and research & development initiatives. The market is highly competitive with leading players having an extended operating history, large customer base, and significant competitive strengths. They leverage these strategies to enhance their product offerings and expand their geographic footprint to untapped markets.