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Construction Management Software Market To Grow By USD 986.36 Million From 2022 To 2027, Growth Driven By Increasing Requirements For Large-scale Project Management- Technavio

By PR Newswire

PR Newswire
Overall Rating

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The construction management software market by end-user (builders and constructors, construction managers, and engineers and architects), deployment (cloud-based and on-premise), and geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2023-2027" report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the construction management software market from 2022 to 2027 is USD 986.36 million, according to Technavio. The reduction in design time is a key factor driving market growth. Failure to complete projects on time and within budget is a major problem in the construction industry. Implementing construction management software can not only eliminate all these problems but also save time and improve productivity as it reduces rework and reliance on paperwork and documentation. In addition, it also automatically updates data and design changes in the project. For example, the prestressed concrete box girder bridge in India was designed using the BENTLEY SYSTEMS LEAP Bridge Enterprise solution. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge 

Network and connectivity issues are a significant challenge restricting market growth. To retrieve faster, high bandwidth is needed to access data from Software as a Service and cloud-based systems. Accessing terabytes of data from cloud-based storage requires efficient computing without network congestion. Cloud-based solutions are being deployed for faster data access and smooth running of operations in the enterprise. In addition, cloud-based solutions involve moving corporate data from a corporate local area network (LAN) to a wide area network (WAN) in the cloud. This has led to an increase in demand for higher bandwidth. Hence, these factors are expected to restrict market growth during the forecast period.

Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

The construction management software market is segmented by end-users (builders and constructors, construction managers, engineers and architects), deployment (cloud-based and on-premise), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

  • The market share growth by the builders and constructors segment will be significant during the forecast period. Construction management software standardizes the construction process by allowing simple and streamlined management of labor, site events, data collection, and cost information and materials. With the implementation of this software, contractors will increase profits and efficiency for their projects. For example, Mike Montgomery, a general contractor in Boston, uses construction project management software provided by InSite Owners. Software features are pre-construction and building planning, budgeting, and permit approval. Hence, these factors are expected to drive segment growth during the forecast period.
  • North America is estimated to contribute 32% to the growth of the global market during the forecast period. 

View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the construction management software market:

ARES Holding Corp., Autodesk Inc., Bentley Systems Inc., Buildertrend Solutions Inc., Chetu Inc., Computer Methods International Corp., Constellation Software Inc., Hilti Corp., Hyland Software Inc., Kiewit Corp., Nemetschek SE, Odoo SA, Oracle Corp., Penta Technologies Inc., Procore Technologies Inc., Roper Technologies Inc., Sage Group Plc, Systemates Inc., and Trimble Inc.

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Construction Management Software Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 10.14%

Market growth 2023-2027

USD 986.36 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.63

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 32%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ARES Holding Corp., Autodesk Inc., Bentley Systems Inc., Buildertrend Solutions Inc., Chetu Inc., Computer Methods International Corp., Constellation Software Inc., Hilti Corp., Hyland Software Inc., Kiewit Corp., Nemetschek SE, Odoo SA, Oracle Corp., Penta Technologies Inc., Procore Technologies Inc., Roper Technologies Inc., Sage Group Plc, Systemates Inc., and Trimble Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

First published on Fri, Sep 8, 2023

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