Global Construction Management Software Market Size By Product (On-Premises, Cloud-Based), By Application (Builders and Contractors, Construction Managers), By Geographic Scope And Forecast
Global Construction Management Software Market Size By Product (On-Premises, Cloud-Based), By Application (Builders and Contractors, Construction Managers), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Construction Management Software Market Size And Forecast
Construction Management Software Market size was valued at USD 1,814.47 Million in 2021 and is projected to reach USD 3,955.19 Million by 2030, growing at a CAGR of 9.43% from 2023 to 2030.
Construction management software improves communication between employees and helps to increase project productivity by reducing response time. Construction management software adoption is increasing as large-scale development projects take place around the world, which is expected to drive market growth in the future. The Global Construction Management Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Construction Management Software Executive Summary
Construction management software is used to create, manage, and execute an effective construction management plan. It offers end users effective construction planning that defines the project’s goals, scope, and budget. Construction management software also reduces construction project costs. It is beneficial to home builders, remodelers, specialty contractors, and general contractors. The global construction management software market is expected to expand rapidly during the forecast period, owing to an increase in demand for construction management software among end-users.
The global construction management software market has been significantly impacted by the COVID-19 pandemic. The pandemic has harmed sales of construction management software. Travel restrictions and raw material supply chain constraints have also had a negative impact on the construction industry. Software providers are making a variety of strategic decisions in order to recover from COVID-19. Multiple research and development activities are being carried out by the players in order to improve the technology used in construction operations in order to integrate and automate work processes. The companies will use this to bring advanced technologies to the market.
Furthermore, government initiatives for large commercial projects have contributed to the market’s expansion. Cloud-based technology adoption in management software adds more value to the construction management process, resulting in significant long-term benefits. Long-term benefits include construction professionals becoming aware of the technology and being willing to adopt it. As a result of the increased demand for digitalization in construction projects, the adoption of cloud-based technology is in high demand, fueling the growth of the global construction management software market.
What's inside a industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Construction Management Software Market Attractiveness Analysis
Construction Management Software Market is experiencing a scaled level of attractiveness in the North American region. The North American area has a prominent presence and will account for a significant market share by 2030. The U.S is one of North America’s main markets. U.S. is growing with a substantial CAGR of 8.97% over the forecast period. The growth of this nation is further propelled due the government’s role in promoting the use of technology for superior-quality construction projects.
North America is projected to gain an incremental market value of USD 536.68 Million and is expected to grow at a CAGR of 8.60% between 2023 and 2030. The growth is attributed to the high software adoption in the area and the presence of numerous construction management software companies.
Global Construction Management Software Market absolute Market Opportunity
The above diagram represents the absolute market opportunity for the Global Construction Management Software Market. Global Construction Management Software Market is estimated to gain USD 152.55 Million in 2023 over 2022 value, and the market is projected to achieve a total opportunity of USD 1,891.91 Million between 2021 and 2030.
Think about itimplementing both and could really open up some exciting, well-paying opportunities. This tech in construction management isn't about replacing people, though. It's designed to work alongside us, making our jobs easier and more efficient. Seriously, diving into AI and the Internet of Things (IoT) is paying off big time! But, and it's a big but, with all this cool tech, we need to make sure it actually works. From a business perspective, using AI and IoT in construction? Huge potential for gains. And let's not forget, the rising popularity of lean management is giving the market a serious boost, too.
Global Construction Management Software Market Outlook
Think about itall these government plans to build more stuff and more people moving to cities? That's set to make a big difference for the market. Right now, over half the people on Earth – about 4.4 billion of us – live in cities. And get this, they're predicting that number will double by 2050, with almost 7 out of every 10 people calling a city home. It's not just city-living, though! Government programs are pushing things forward too. Take India for example – they're planning to drop a whopping USD 1.4 trillion on infrastructure through their ‘National Infrastructure Pipeline.’ Infrastructure stuff even accounted for 13% of all the foreign investment they got in FY21, which totaled USD81.72 billion! Crazy, right? And get thisthey’ll need to build like 43,000 houses every day to meet their housing goals! Then you've got companies stepping up. Like when Oracle launched Construction Intelligence Cloud Analytics in September 2022 – it helps builders spot problems and make smarter choices. And B2W Software, a big name in construction software, got snapped up by Trimble Inc. in October 2022. These kinds of tech advancements give builders a serious edge, helping them save money and win over more customers. So, yeah, all these changes and cool new technologies are really fueling the market.
However, the demand for open-source software has increased with the increasing need for digitalization in the current market scenario. The open-source vendors deliver a wide range of tools and applications. These types of feature-rich software are freely available through the internet. Hence, several small and emerging enterprises use them as commercial software’s purchasing and licensing costs are high which in turn, restrains the market. Also, a shortage of skilled operators is expected to hinder the market in the long run.
Global Construction Management Software MarketSegmentation Analysis
The Global Construction Management Software Market is segmented on the basis of Product, Application, and Geography.
Construction Management Software Market, By Product
• On-Premise• Cloud-based
To Get a Summarized Market Report By Product-
Based on Product, the market is segmented into On Premise and Cloud. On-Premise accounted for the largest market share in 2021, and is projected to grow during the forecast period. Cloud based was the second-largest market in 2021. The increasing complexity of real-time collaboration among project stakeholders, large upfront capital investments, and higher storage requirements are all contributing to segment growth.
Construction Management Software Market, By Application
• Builders and Contractors• Construction Managers• Engineers and Architects
To Get a Summarized Market Report By Application-
When we look at who uses Construction Management Software, we can break it down by ApplicationBuilders and Contractors, Construction Managers, and Engineers and Architects. Turns out, Builders and Contractors were the biggest users in 2021, and we're expecting them to keep growing. Construction Managers came in second. What's driving all this? Well, architects are increasingly using BIM, which helps them sync design and construction, spot potential problems, and visualize the whole project. That really helps with planning, design, and overall management. Plus, everyone wants better designs, especially for things like scheduling, development, and making sure everything meets code – and that's fueling the growth in this area too!
Construction Management Software Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East & Africa
To Get a Summarized Market Report By Geography-
On the basis of regional analysis, the Global Construction Management Software Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America accounted for the largest market share in 2021, with a market value of USD, and is projected to grow during the forecast period. Asia-Pacific was the second-largest market in 2021. Increasing requirements for large-scale project management, increasing urbanization, and the Growing importance of lean management are some of the factors driving the market growth in these regions. Due to this, the demand for Construction Management Software is on the rise.
Key Players
The major players in the market are; Sage Group Plc., Autodesk Inc., Trimble Inc., Oracle, Bentley Systems, Incorporated, Buildertrend Solution, Computer Methods International Corp., Construct Connect Inc., Procore Technologies Inc. among others. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Ace Matrix
Okay, so this part of the report is all about how we sized up the different players in the Construction Management Software game. We looked at everything – from their product portfolios and tech innovations to how well-known they are and how much money they're raking in. We even got opinions straight from the source! Using a cool "ace matrix," we figured out who's really making waves. Think of "active" companies as the MVP vendors with serious business smarts. "Cutting edge" folks have awesome products/services and a strong foothold in the market. "Emerging" companies are the ones just starting to take off with some really unique offerings, and "Innovators" are those pushing the boundaries with incredibly inventive services compared to everyone else.
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
Sample Report for Global Construction Management Software Market Size By Product (On-Premises, Cloud-Based), By Application (Builders and Contractors, Construction Managers), By Geographic Scope And Forecast
