Global Construction Management Software Market Size By Product (On-Premises, Cloud-Based), By Application (Builders and Contractors, Construction Managers), By Geographic Scope And Forecast

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.

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.

Implementation of and is expected to offer remunerative opportunities. Technological innovation in construction management is not designed to replace professional personnel; it is created and deployed to help complement their processes and procedures, maximizing efficiency and results. Embracing the use and harnessing of the ability of AI and the benefits of the IoT persists in bringing dividends. With innovation, the use of IoT and AI in construction brings the need to ensure that it is technically sound. In terms of the overall market, utilizing AI and IoT in construction management can provide numerous benefits. Apart from this, the growing importance of lean management is also propelling the market.

Global Construction Management Software Market Outlook

An increasing number of government initiatives across the globe to boost infrastructure and increase urbanization are expected to create growth opportunities for the market. Today, some 56 percent of the world’s population, i.e., 4.4 billion inhabitants, lives in cities. This trend is expected to persist, with the urban population doubling its current size by 2050, with nearly 7 of 10 people living in cities. Besides, government initiatives are also boosting the market growth. For instance, in India, the government intends to spend USD 1.4 trillion on infrastructure through the ‘National Infrastructure Pipeline.’ In FY21, infrastructure activities accounted for a 13% share of the total FDI inflows of USD81.72 billion. India will require building 43,000 houses every day until 2022 to accomplish the vision of Housing for All by 2022. In addition, Key players in this industry are adopting growth strategies that propel the market. For instance, in September 2022, Oracle introduced Construction Intelligence Cloud Analytics, a tool for identifying issues, foreseeing hazards, and guiding future decisions. Owners and contractors can now understand performance throughout their whole business thanks to the new solution, which combines data from Oracle Smart Construction Platform applications. Also, in October 2022, a leading provider of solutions primarily for the civil construction sector, B2W Software, was acquired by Trimble Inc. These technologies have a variety of advantages that enable contractors to reduce expenses and draw in a sizable client. Thus, such developments and innovations are driving 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

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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

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By Application, Construction Management Software is classified as Builders and Contractors, Construction Managers, and Engineers and Architects. Builders and Contractors accounted for the largest market share in 2021, and are projected to grow during the forecast period. Construction Managers was the second-largest market in 2021. The increasing use of BIM by architects enables synchronization of design and construction planning, conflict detection, and visualization, all of which will aid in the planning, design, and management of building projects. Furthermore, the rising demand for design proficiency, to take advantage of project perspectives such as scheduled building, development, and building parameter endorsement, can be attributed to the segment growth.

Construction Management Software Market, By Geography

• North America• Europe• Asia Pacific• Latin America• Middle East & Africa

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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

This section of the report provides an overview of the company evaluation scenario in the Construction Management Software market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as the product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents. With the help of ace matrix, we can determine the active, cutting edge, emerging and innovator companies of the Construction Management Software market. Here, active companies are those who have established vendors with powerful business strategies. Cutting edge includes vendors who have established service/product portfolios as well as a powerful market presence. Likewise, emerging includes vendors who have started gaining momentum in the market with their niche product offerings and Innovators are vendors that have demonstrated substantial service innovation compared with their competitors.

Report Scope