USD 10.2 billion
Report ID:
SQMIG45E2252 |
Region:
Global |
Published Date: October, 2024
Pages:
195
|Tables:
118
|Figures:
74
Construction Management Software Market size was valued at USD 11.32 Billion in 2023 and is poised to grow from USD 12.48 Billion in 2024 to USD 27.16 Billion by 2032, growing at a CAGR of 10.21% during the forecast period (2025-2032).
Rapidly increasing investments in infrastructure development and growing use of technology in construction are slated to bolster the demand for construction management software over the coming years. Rapid industrialization and urbanization are also expected to indirectly promote the adoption of construction management software around the world. Moreover, rising emphasis on enhancement of construction operations and workflows is also expected to favor the global construction management software market outlook in the future. Expanding global population and the need for proper housing for the same are also slated to benefit the demand for construction management software going forward. Efforts to improve compliance with stringent construction rules and regulations are also expected to promote the business of construction management software companies across the study period and beyond. On the contrary, resistance to change, challenges in integration, high initial costs of implementation, and dearth of skilled workforce are some major constraints slowing down the global construction management software demand outlook.
Global Market Size
USD 10.2 billion
Largest Segment
On-premises
Fastest Growth
Cloud
Growth Rate
10.1% CAGR
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Global Construction Management Software Market is segmented by Offering, Building Type, Deployment Mode, Application, End User, and Region. Based on Offering, the market is segmented into Solution, Services (Professional Services, Managed Services). Based on Building Type, the market is segmented into Commercial Buildings, Residential Buildings. Based on Deployment Mode, the market is segmented into On-premises, Cloud. Based on Application, the market is segmented into Project Management and Scheduling, Safety and Reporting, Project Design, Field Service Management, Cost Accounting, Others. Based on End User, the market is segmented into Architects and Designers, Construction Managers, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Deployment
On-premises deployment of construction management software is projected to account for the largest share in the global construction management software industry. High scope of customization and better privacy and security offered by on-premises deployment allows it to bring in the most revenue. Easy integration and limited to no dependence on internet connectivity also make on-premises deployment preferable for end users. However, the high costs involved in setting up the infrastructure and need for skilled professionals to manage and maintain on-premises solutions are expected to hurt the share of this segment going forward. Large enterprises with high spending potential are more likely to opt for on-premises construction management software.
Meanwhile, the demand for cloud deployment of construction management software is expected to increase at a robust pace across the study period and beyond. Increasing demand for collaboration in the construction industry and advancements in cloud technologies are slated to create new opportunities for construction management software providers via this segment. Availability of high flexibility and scalability from cloud-based construction management software makes it highly suitable for all types of construction companies. Smal and medium enterprises are expected to be prime adopters of cloud-based construction management software owing to its low costs of deployment and maintenance as compared to on-premises mode of deployment.
Analysis by End User
Construction managers are forecasted to account for a substantial chunk of the global construction management software market share in the future. Construction managers can streamline their operations and workflows by using construction management software, which helps optimize the outcome of construction projects. Efforts of construction managers to enhance the productivity and profitability of their projects are also slated to promote the adoption of construction management software going forward. Enhanced communication and collaboration can be achieved by construction managers using construction management software. Demand for managing resource allocation and tracking risk management is also expected to help this end user lead revenue generation.
On the other hand, the architects and designers are expected to emerge as the fastest end user segment for construction management software providers going forward. Architects can utilize construction management software to track their projects and also manage their finances to provide accurate billable and non-billable hours. Easy collaboration with other people involved in construction projects, assigning tasks, and mapping out phases of the project are some other uses of construction management software for architects and designers. Growing use of digital technologies and demand for data-driven decision-making are also expected to further create new opportunities for construction management software providers focusing on this segment.
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North America is estimated to hold a massive chunk of the global construction management software market share going forward. Growing construction activity, rising demand for residential housing infrastructure, and quick adoption of advanced technologies are some key factors cementing the dominance of this region over others. The presence of a stringent regulatory framework for buildings and construction is also estimated to offer lucrative business scope for construction management software providers. Canada and the United States are slated to bring in the most revenue for construction management software companies operating in this region. Presence of leading construction management software providers also aids the dominance of this region.
The demand for construction management software in the Asia Pacific region is projected to rise at a rapid pace across the study period. Robust investments in infrastructure development backed by industrialization and urbanization to boost economic growth are boosting the adoption of construction management software in this region. India and China are forecasted to be the most opportune markets followed by Japan. Growing efforts to increase home ownership in this region and launch of multiple new construction projects are also slated to present new opportunities for companies over the coming years. Supportive government initiatives to promote construction are also expected to favor revenue generation through 2031.
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Drivers
Growing Use of Technology in Construction
High Investments in Infrastructure Development
Restraints
Resistance to Change
Challenges in Integration
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Construction management software companies should focus on simplifying the integration process and create more awareness regarding the benefits of their offerings. Developing countries focusing on boosting economic growth are expected to create an opportune setting for construction management software providers in the long run. Providing training for construction workers to manage construction management software effectively could also help promote revenue generation for market players going forward.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the rise in construction activity around the world and increasing use of technology in construction are slated to be the key drivers for the market going forward. On the contrary, challenges in integration and resistance to change are slated to slow down market development in the future. Asia Pacific region is estimated to expected to emerge as the fastest-expanding market for construction management software providers owing to high investments in infrastructure development in countries such as Japan, India, and China. Integration with building information modeling solutions and use of analytics are slated to be top construction management software market trends for the future.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 11.32 Billion |
Market size value in 2032 | USD 27.16 Billion |
Growth Rate | 10.21% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Construction Management Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Construction Management Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Construction Management Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Construction Management Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45E2252
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