In the most recent publication from Report Ocean, titled “Exploring the Dynamics of the Construction Management Software Market: Trends, Market Share, Size, Projected Growth, Lucrative Prospects, and Forecasts Spanning 2023-2031,” a thorough and all-encompassing scrutiny of the sector is presented. Within its pages, you will uncover not only penetrating market insights but also a detailed examination of competitive forces and geographical factors influencing the landscape. Furthermore, the document delves into the cutting-edge innovations driving the evolution of this market realm.
What is the Size of the Construction Management Software Market?
Global Construction Management Software Market is valued at approximately USD 9.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 10.2% over the forecast period 2022-2029. Construction management software, is a project management platform that helps business in a variety of operations, including financial planning, communication, decision-making, and allocation. Its primary objective is to optimize construction industry business operations through automated processes. The increasing number of construction projects and the growing development of smart cities are key factors driving market growth.
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The increasing deployment of new commercial and residential construction projects is contributing towards the growth of the Global Construction Management Software Market. For instance – as per Oxford Economics estimates – in 2020, the global construction output was estimated at USD 10.7 trillion, and this number is projected to grow by 42% or USD 4.5 trillion between 2020 and 2030 to reach USD 15.2 trillion.
Additionally, Asia Pacific is estimated to account for USD 2.5 trillion of growth in construction output between 2020 and 2030, up by over 50% to become a USD 7.4 trillion market by 2030. Also, rising digitalization and rising government initiatives in construction industry would create a lucrative growth prospectus for the market over the projected period. However, the high deployment cost associated with Construction Management Software hinders the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Construction Management Software Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of leading construction software vendor as well as implementation of IoT and AI technologies in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising investment towards deployment of smart cities and infrastructure as well as growing digitalization in construction industry in the region.
Major market player included in this report are:
Sage Group Plc
Autodesk Inc.
Trimble Inc.
Oracle Corporation
Bentley Systems Incorporated
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Buildertrend Solution
Computer Methods International Corp.
Construct Connect Inc.
Procore Technologies Inc.
Pland Grid, Inc.
Recent Developments in the Market:
In July 2022, Aqurus has commenced its new Construction Management Software Resource Center to enable builders and land developers to learn how to get things done faster and wiser using automated construction management software.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Product
On-Premises
Cloud-Based
By Application
Builders and Contractors
Construction Managers
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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