The Global Construction Software Market is anticipated to reach US$ 3,549 Mn by 2030 from US$ 1,753 Mn in 2021, registering a CAGR of 8.3% during the forecast period 2022-2030. Construction management software is a set of programs that helps in managing material requirements, estimating job work, cost control, labor management, and assessment of risks. Construction management software aids in activities from planning to execution of the project work, it designs framework, maximizes resource efficiency, develops communication and hierarchy planning, thereby enhancing the performance of construction projects.
The construction software market is majorly driven by factors such as a rise in construction spending and project complexity. A rise in construction spending due to a rise in urbanization is creating demand for projects that support denser population centers, such as transportation, power, and sewage. Moreover, it is estimated that only 15% of firms deliver projects on time and only 30% of firms currently deliver projects on budget. Therefore, to easily manage, boost the workflow, and ensure timely delivery of projects with real-time tracking technology, construction software plays a crucial role in the industry. Furthermore, cloud-based technologies are an emerging opportunity for the construction software market. The Cloud Storage market is growing at a CAGR of ~21% during 2021-2027. Cloud computing outsources the data processing and storage to more powerful machines that allow increased efficiency and less burden to manage data with fewer resources. The cloud removes hardware limitations, prevents data loss, and improves accessibility, thereby leading to cost savings. However, high deployment and maintenance costs, as well as cybersecurity & data protection risks, act as a roadblock to the construction software market.
Report Summary
The study of the Global Construction Software Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the construction software industry for the period 2016-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global construction software market across 19 Chapters and, 256 pages. The report includes data presentation across 55 tables and 133 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the intensity of rivalry and bargaining power of buyers is high.
The subsequent section provides details of the market analysis based on different segments such as components, modules, project types, end-users, and regions. The report also includes a detailed study of the value chain of the construction software industry. It includes designing, engineering, supplying, construction, and operation & maintenance. The report also covers extensively the key competitors in the global construction software market and provides a SWOT analysis for each of the competitors.
Key Takeaways from the Global Construction Software Market Report
Impact of COVID-19
Top construction companies were already investing heavily in technology adoption even in pre-pandemic times. However, the pandemic has further forced many construction players during COVID-19 to digitize and use technology to ensure the safety of their workers and boost productivity, thereby positively impacting the global construction software market. This trend is estimated to continue in the future as well even in post-COVID-19 times.
Competitive Landscape
The key players in the global construction software market are Sage Group PLC, Oracle Corporation, Autodesk, Inc, Roper Technologies, Inc., Constellation Software Inc., Constellation Software Inc., RIB Software SE, Procore Technologies Inc., and Jonas Construction Software Inc. among others. The market players are involved in developing multipurpose and integrated software solutions to amplify their growth and thereby gain valuable traction in the global marketplace. The companies are engaging in making strategic decisions such as product launches, R&D, agreements, and collaborations to gain market share.
Segmentation Overview of the Global Construction Software Market
Following are the different segments of the Global Construction Software Market:
By Component Segment of the Global Construction Software Market is sub-segmented into:
By Modules Segment of the Global Construction Software Market is sub-segmented into:
By Project Type Segment of the Global Construction Software Market is sub-segmented into:
By End Users Segment of the Global Construction Software Market is sub-segmented into:
By Region Segment of the Global Construction Software Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 1,753 Mn |
Expected Revenue in 2030 | US$ 3,549 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Unit | Value (USD Mn) |
CAGR | 8.3% |
Segments covered | By Component, Modules, Project Type, End Users, and Region |
Key Companies | Sage Group PLC, Oracle Corporation, Autodesk, Inc, Roper Technologies, Inc., and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Construction management software is a set of programs which helps in managing material requirements, estimating job work, cost control, labor management, and assessment of risks.
Construction management software aids in activities from planning to execution of the project work, it designs framework, maximizes resource efficiency, develops communication and hierarchy planning, thereby enhancing the performance of construction projects.
The market is estimated to register a CAGR of 8.3% during the forecast period 2022-2030.
The Global Construction Software Market is segmented based on component, modules, project type, end users, and region.
Factors such as rise in construction spending and project complexity are driving the growth of the global construction software market.
High deployment & maintenance cost and cybersecurity & data protection risks acts as restraints in the Global Construction Software Market.
Cloud computing outsources the data processing and storage to more powerful machines that allows increased efficiency and less burden to manage data with less resources. Hence, cloud computing is cost-saving because it reduces capital expenditure, the construction industry is constantly witnessing an increased adoption of cloud.
Software component of the Global Construction Software Market is leading the market in 2021.
Commercial segment holds the highest share in the Global Construction Software Market.
Contractors are the major end users in the construction software market in 2021.
Asia Pacific region is expected to dominate the Global Construction Software Market.
The key players in the Global Construction Software Market are Oracle Corporation, Autodesk, Inc, Roper Technologies, Inc., Constellation Software Inc., Constellation Software Inc., RIB Software SE, and Jonas Construction Software Inc. among others.