Global Construction Software Market is Expected to Hit USD 3,549 million by 2030 – Astute Analytica
CHICAGO, UNITED STATES, October 12, 2022 /EINPresswire.com/ -- The global construction software market size was US$ 1,753 million in 2021, which is expected to grow to US$ 3,549 million by 2030 by registering a compound annual growth rate (CAGR) of 8.3% during the forecast period, i.e., 2022-2030.
Request Sample Report at: https://www.astuteanalytica.com/request-sample/construction-software-market
Construction management software incorporates a variety of applications aimed at managing risk assessment, cost control, labor management, and material requirements. The software manages the entire process from planning to execution by developing a framework and improving resource utilization. It also facilitates communication and documents hierarchy planning in order to improve the implementation of construction projects.
The growing number of public and private construction projects is primarily driving the growth of the construction software market.
Further, the high complexity linked to construction projects may increase the adoption of construction software in the coming years. Apart from that, factors such as the rising deployment of cloud-based software and automated process will drive the demand for technological platforms. On the flip side, the high deployment of construction software and the need for high maintenance costs may limit the growth of the construction software market.
Market Segmentation
On the basis of component type, the software segment is leading in the market
On the basis of component type, the software segment is leading with the highest market share of 63.1% in 2021 due to the rapidly rising adoption of construction software, majorly in the real estate industry. Residential, commercial, industrial, and institutional construction projects all benefit from the software as it enhances performance. Moreover, due to the increased use of consulting services to create robust supply chains, the services category is predicted to grow swiftly, with the highest CAGR of 9.3% during the study period.
The residential segment, based on project type, is expected to exhibit the highest growth rate
Based on the project type, the residential segment is expected to grow at a quick growth rate due to factors like growing disposable income and rising urbanization, which are paving the path for the market's growth. In 2020, one of the leading construction firms, Durkan, completed the development of 354-homes within 139 weeks through Powerproject by Elecosoft.
Based on Modules, the customer management segment is expected to exhibit the highest CAGR during the study period
On the basis of modules, the customer management segment is expected to register a growth at the CAGR of 9.4% during the study period, owing to the growing use of technology to deliver visuals related to design to the clients. Moreover, efficient customer management is the key to business growth. Therefore, more businesses are working on customer interaction capabilities.
Based on end-users, contractors are likely to exhibit the highest growth rate
Based on the end-user segment, contractors are expected to exhibit the highest growth rate, due to the fact that contractors require regular oversight of a construction site to check resource allotment and perform material planning.
During the projected period, Asia Pacific is anticipated to grow at the fastest rate at 8.6%
The rapid expansion of the Asia Pacific construction software market is mostly credited to growing economies like South Korea, China, and India. The region with the highest growth rate is anticipated to be the Asia Pacific, owing to the sustaining government's efforts in launching massive building projects, majorly in China and India. For instance, the Indian government is making crucial efforts in road infrastructure development, with the target of achieving a construction rate of 60 km per day. North America will also record significant growth, with the major contribution from Canada and the US, owing to the high number of construction projects in the countries.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/construction-software-market
Competitive Landscape
The global Construction Software Market is highly competitive as industry players are making continuous advancements in their offerings to attract more opportunities. Some of the key players operating in the global market include Sage Group PLC, Procore Technologies Inc, Oracle Corporation, PlanGrid Inc, Comprotex Software Inc, Trimble Inc, Constellation Software Inc, BIMobject AB, RIB Software SE, Roper Technologies Inc, Autodesk, Inc, BuilderMT LLC, Jonas Construction Software Inc., Heavy Construction Systems Specialists, and ECI Software Solutions Inc.
In September 2022, Trimble obtained B2W Software, which will help the firm expand its civil construction portfolio. Construction companies are accelerating the digitization of their processes and operations as a result of the Infrastructure Investment and Jobs Act (IIJA) and other infrastructure legislation passed throughout the world.
Moreover, Swinburne also opened the Trimble Technology Lab in October 2022 to train the workforce of the future. The lab makes it possible to learn about cutting-edge applications of digital technology in civil engineering and building. In 2021, Swinburne and Trimble inked the pact aimed at the establishment of the Trimble Technology Lab on campus.
Segmentation Overview
Global Construction Software Market is segmented based on components, modules, project type, end users, and region. The industry trends in the global marketplace are sub-divided into different categories in order to get a holistic view of the construction software market.
Following are the different segments of the Global Construction Software Market:
By Component Type:
Software
On-Premises
Cloud
Services
Professional
Managed
By Modules:
Contract Management
Procure Management
Finance Management
Inventory Management
Real Estate Management
Labor Management
Customer Management
Others
By Project:
Residential
Commercial
Industrial
Others
By End Users:
Creative Agencies
Architects
Consultants
Engineers
Builders
Contractors
Owners
Interior Designer
Home Remodelers
Others
By Region:
North America
U.S.
Canada
Mexico
Europe
Western Europe
Turkey
Bulgaria
U.K.
Germany
France
Spain
Italy
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
South America
Argentina
Brazil
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/construction-software-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Request Sample Report at: https://www.astuteanalytica.com/request-sample/construction-software-market
Construction management software incorporates a variety of applications aimed at managing risk assessment, cost control, labor management, and material requirements. The software manages the entire process from planning to execution by developing a framework and improving resource utilization. It also facilitates communication and documents hierarchy planning in order to improve the implementation of construction projects.
The growing number of public and private construction projects is primarily driving the growth of the construction software market.
Further, the high complexity linked to construction projects may increase the adoption of construction software in the coming years. Apart from that, factors such as the rising deployment of cloud-based software and automated process will drive the demand for technological platforms. On the flip side, the high deployment of construction software and the need for high maintenance costs may limit the growth of the construction software market.
Market Segmentation
On the basis of component type, the software segment is leading in the market
On the basis of component type, the software segment is leading with the highest market share of 63.1% in 2021 due to the rapidly rising adoption of construction software, majorly in the real estate industry. Residential, commercial, industrial, and institutional construction projects all benefit from the software as it enhances performance. Moreover, due to the increased use of consulting services to create robust supply chains, the services category is predicted to grow swiftly, with the highest CAGR of 9.3% during the study period.
The residential segment, based on project type, is expected to exhibit the highest growth rate
Based on the project type, the residential segment is expected to grow at a quick growth rate due to factors like growing disposable income and rising urbanization, which are paving the path for the market's growth. In 2020, one of the leading construction firms, Durkan, completed the development of 354-homes within 139 weeks through Powerproject by Elecosoft.
Based on Modules, the customer management segment is expected to exhibit the highest CAGR during the study period
On the basis of modules, the customer management segment is expected to register a growth at the CAGR of 9.4% during the study period, owing to the growing use of technology to deliver visuals related to design to the clients. Moreover, efficient customer management is the key to business growth. Therefore, more businesses are working on customer interaction capabilities.
Based on end-users, contractors are likely to exhibit the highest growth rate
Based on the end-user segment, contractors are expected to exhibit the highest growth rate, due to the fact that contractors require regular oversight of a construction site to check resource allotment and perform material planning.
During the projected period, Asia Pacific is anticipated to grow at the fastest rate at 8.6%
The rapid expansion of the Asia Pacific construction software market is mostly credited to growing economies like South Korea, China, and India. The region with the highest growth rate is anticipated to be the Asia Pacific, owing to the sustaining government's efforts in launching massive building projects, majorly in China and India. For instance, the Indian government is making crucial efforts in road infrastructure development, with the target of achieving a construction rate of 60 km per day. North America will also record significant growth, with the major contribution from Canada and the US, owing to the high number of construction projects in the countries.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/construction-software-market
Competitive Landscape
The global Construction Software Market is highly competitive as industry players are making continuous advancements in their offerings to attract more opportunities. Some of the key players operating in the global market include Sage Group PLC, Procore Technologies Inc, Oracle Corporation, PlanGrid Inc, Comprotex Software Inc, Trimble Inc, Constellation Software Inc, BIMobject AB, RIB Software SE, Roper Technologies Inc, Autodesk, Inc, BuilderMT LLC, Jonas Construction Software Inc., Heavy Construction Systems Specialists, and ECI Software Solutions Inc.
In September 2022, Trimble obtained B2W Software, which will help the firm expand its civil construction portfolio. Construction companies are accelerating the digitization of their processes and operations as a result of the Infrastructure Investment and Jobs Act (IIJA) and other infrastructure legislation passed throughout the world.
Moreover, Swinburne also opened the Trimble Technology Lab in October 2022 to train the workforce of the future. The lab makes it possible to learn about cutting-edge applications of digital technology in civil engineering and building. In 2021, Swinburne and Trimble inked the pact aimed at the establishment of the Trimble Technology Lab on campus.
Segmentation Overview
Global Construction Software Market is segmented based on components, modules, project type, end users, and region. The industry trends in the global marketplace are sub-divided into different categories in order to get a holistic view of the construction software market.
Following are the different segments of the Global Construction Software Market:
By Component Type:
Software
On-Premises
Cloud
Services
Professional
Managed
By Modules:
Contract Management
Procure Management
Finance Management
Inventory Management
Real Estate Management
Labor Management
Customer Management
Others
By Project:
Residential
Commercial
Industrial
Others
By End Users:
Creative Agencies
Architects
Consultants
Engineers
Builders
Contractors
Owners
Interior Designer
Home Remodelers
Others
By Region:
North America
U.S.
Canada
Mexico
Europe
Western Europe
Turkey
Bulgaria
U.K.
Germany
France
Spain
Italy
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
South America
Argentina
Brazil
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/construction-software-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
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