Construction management software market

Construction Management Software Market, By Deployment (Cloud-based and On-premise), By End User (Builders & Contractors, Construction Managers, and Engineers & Architects), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

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Aug 2021
CMI4566
180 Pages
Excel & Pdf
Information and Communication Technology

Summary

Construction management software helps in project planning and scheduling in the construction industry. This is done by sequencing operations of the construction project and enabling effective use of the schedules created via a work breakdown structure. The features and functions of construction software management includes specifying a project’s objectives and plans, which include delineation of scope, budgeting, scheduling, setting performance requirements, and selecting project participants.

The construction management software helps to monitor the cost-control system to achieve an estimated profit on projects and to monitor the predicted results. Construction project management software provides features to manage construction projects starting from its inception, by enabling features that monitor various stages of a project including procurement of design service and contractors, contract methods, and management of the construction contract process.

The construction management software market is expected to witness significant growth during the forecast period (2021–2028). Rising popularity of cloud-based software, expansion of product output, increasing application of lean management in construction management, increasing automated processes, and the need for maintaining regular follow-ups are some of the factors that will enhance the growth of the construction management software market during the forecast period. On the other hand, increasing research activities and business expansions will further create new opportunities for the growth of construction management software market in the above mentioned forecast period.

The major factor restraining growth of the construction management software market is the lack of awareness regarding the about construction management software as well as the lack of skilled labor.

Global Construction Management Software Market - Impact of Coronavirus (Covid-19) Pandemic

The pandemic has triggered a new perspective in the construction management sector. The construction management software reduce the number of man-hours required to complete a project by eliminating factors such as overlapping of decisions, duplication of work, improper communication, etc. Construction management software encompasses all the possible pain points that a construction firm may face in the turbulent times of COVID-19 pandemic. The construction management software is an end-to-end digital solution that caters to the A-Z needs of a construction company by integrating all the required modules including tendering and estimation, HR & payroll, and others, thus making the operations streamlined, organized, and easy to execute.

Construction Management Software Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2020:	US$ 1.4 Bn
Historical Data for:	2017 to 2019	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	8.2%	2028 Value Projection:	US$ 2.6 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, Spain, and Rest of Europe Asia Pacific: China, India, Japan, Australia & New Zealand, South Korea, , and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East & Africa
Segments covered:	By Deployment: Cloud-based and On-premise By End User: Builders & Contractors, Construction Managers, and Engineers & Architects By Region: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
Companies covered:	BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint, Inc., Oracle, BrickControl.com, BuildStar Technologies, Inc., Buildtools Inc, CATCloud., e-Builder Inc., eSUB Inc., Jonas Construction Software Inc, Systemates, Inc., Autodesk Inc., Buildertrend, CMiC., ConstructConnect, Odoo S.A.
Growth Drivers:	Rising popularity of cloud-based software Rising construction projects across the globe
Restraints & Challenges:	Lack of skilled workforce to maintain the construction management software Lack of awareness about construction management software

North America is expected to hold dominant position in the construction management software market during the forecast period.

North America is expected to dominate the construction management software market in the forecast period, while the Asia Pacific region is expected to witness the highest growth rate during the forecast period of 2021–2028. North America’s expected dominance in the market could be attributed to the high volume of construction projects in the region, whereas Asia Pacific’s increasing growth rate can be attributed to the increasing number of construction projects in China and India.

Figure 1: Global Construction Management Software Market Share (%), By Region, 2020

Oil and gas sector is expected to drive the market growth during the forecast period.

A notable rise in demand for construction management software is expected from the oil and gas sector. This is owing to the fact that the software helps to boost transparency in brownfield, onshore, and shale-based construction projects. The software also helps in monitoring the development in oil and gas plants as well as for monitoring deep water oil and gas projects.

Figure 2: Global Construction Management Software Market Value (US$ Bn) Analysis and Forecast, 2017 - 2028

The global construction management software market was valued at US$ 1.4 Bn in 2020 and is expected to reach US$ 2.6 Bn by 2028 at a CAGR of 8.2% between 2021 and 2028.

Major players operating in the global construction management software market are BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint Inc., Oracle, BuildStar Technologies, Inc., Buildtools Inc, CATCloud., e-Builder Inc, eSUB Inc., Jonas Construction Software Inc, Systemates, Inc., Autodesk Inc., Buildertrend, CMiC., ConstructConnect, and Odoo S.A.

Table of Content

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- Frequently Asked Questions -

What is the expected market size of global construction management software in 2028?

The global construction management software market is expected to reach US$ 2.6 billion by 2028.

What is the expected compound annual growth rate (CAGR) of the market during the forecast period (2021-2028)?

The market is expected to witness a CAGR of 8.2% during the forecast period (2021-2028).

What is the primary factor contributing to growth of the market?

Rising popularity of cloud-based software and rising construction projects across the globe are expected to boost growth of the market.

Based on deployment which segment held the largest market share in the market in 2020?

The cloud-based construction management software held the largest market share among deployment.

Which region held the largest market share in the market in 2020?

North America region held the largest share in the market in 2020, accounting for 31% share in terms of value.

Who are the key players operating in the market?

Key players operating in the market include BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint, Inc., Oracle, BrickControl.com, BuildStar Technologies, Inc., Buildtools Inc; CATCloud., e-Builder Inc, eSUB Inc., Jonas Construction Software Inc, Systemates, Inc., Autodesk Inc., Buildertrend, CMiC., ConstructConnect, and Odoo S.A.