Construction Management Software Industry

The construction management software market was positively affected by the COVID-19 pandemic and showcased a positive growth rate during the period.

PORTLAND, PORTLAND, OR, UNITED STATE, February 28, 2023 /EINPresswire.com/ -- The thriving construction sector and favorable government policies for promoting construction activities will embellish the expansion of the global construction management software market. Nevertheless, huge deployment and maintenance charges and low availability of skilled workforce can hinder the growth of the global industry. However, the onset of new technologies such as artificial intelligence and the internet of things is expected to generate new growth for the market across the globe over the years to come.

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Based on the offering, the solution segment is set to contribute to the highest market share in 2021, accounting for nearly two-thirds of the global construction management software market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the assessment period is attributed to the massive requirement of the construction sector for improving construction workloads. However, service segment will record the fastest CAGR of 11.3% from 2022 to 2031. The growth of the segment over the forecast timeframe can be due to the extensive use of construction management software in giant enterprises.

On basis of deployment mode, the on-premise segment contributed to the largest market share in 2021, accounting for nearly three-fifths of the global construction management software market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to strong online security provided by on-premise construction management solutions to the construction management software. However, the cloud segment is predicted to record the highest CAGR of 11.4% over the forecast period. The growth of the segment over the forecast timeline can be credited to deployment ease and scalability provided by cloud-based construction management tools to construction management software.

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In terms of building type, the commercial buildings segment contributed to the highest market share in 2021, accounting for nearly three-fourths of the global construction management software market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to the extensive use of construction management software for constructing commercial buildings. However, the residential buildings segment is predicted to register the fastest CAGR of 12.9% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the rise in the digitization of small-scale construction firms and independent contractors in the construction sector.

In terms of application, the project management and scheduling segment contributed to the highest market share in 2021, accounting for nearly one-third of the global construction management software market share. Moreover, the same segment is set to make significant contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to a huge demand for improving the quality of construction activities. However, the safety and reporting segment is predicted to register the fastest CAGR of 12.9% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to rising safety requirements and strict safety and reporting guidelines drafted by various governments for the construction industry.

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By Region, North America contributed notably toward the global construction management software market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than one-third of the global construction management software market share in 2021. The regional market growth over the projected timespan is owing to favorable government policies. Nonetheless, the Asia-Pacific construction management software market is set to record the highest CAGR of 11.1% during 2022-2031. The growth of the market in the region over the forecast timespan can be credited to the growing digital transformation of the construction sector in the sub-continent.

Major market players:

• Brunswick Corporation Autodesk, Inc.
• Constructconnect, Inc.
• Buildertrend
• Bentley Systems, Inc.
• Oracle Corporation
• BrickControl.com
• CMiC
• BuildTools
• e-Builder, Inc.
• Buildstar Technology
• Odoo SA
• Jonas Construction Software, Inc.
• Pland Grid, Inc.
• Sage Group plc
• Viewpoint, Inc.
• TRIMBLE, INC.
• Systemates, Inc.

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