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The construction management software market is estimated to grow at a CAGR of 10.14% between 2022 and 2027. The size of the market is forecast to increase by USD 986.36 million. The growth of the market depends on several factors, including Increasing requirements for large-scale project management, reduction in design time, and growth of the global construction market.
This report extensively covers market segmentation 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reduction in design time is notably driving the construction management software market growth, although factors such as network and connectivity issues may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The reduction in design time is notably driving the construction management software market growth. The incapability to complete projects on time and within the budget is the major problem faced by the construction industry. Inefficient project planning and scheduling, the lack of contractor experience, improper site management and supervision, and delayed delivery of building materials can also adversely affect construction projects. The implementation of construction management software not only can eliminate all these problems but also save time and enhance productivity as it reduces rework and dependence on paperwork and documentation. It also automatically updates data and design changes in the project. For instance, prestressed concrete box girder bridges in India were designed using the BENTLEY SYSTEMS LEAP Bridge Enterprise solution. One of the largest projects completed in India using this solution was the South Kasheli Bridge in Maharashtra. The adoption of construction management software by end-users can reduce design time and save operational costs, which is driving the market during the forecast period.
Growing advancements in construction management software are a primary trend driving the construction management software market growth. Vendors are trying to integrate construction management software with all types of estimation and accounting software for managing the entire construction business. Software vendors are aiding this integration with the help of professional software teams that have experts. This integration is designed particularly for sub-contractors to enhance their productivity and increase profits. The integrated construction management software enables end-users to purchase orders, change orders, as well as pull and populate employees. It can handle material costs, cost codes, and contacts. This integrated software enhances the communication between the accounting staff and the employees (of the construction company) who are in the field significantly. Apart from integration, vendors are launching advanced construction management software. This AI-enabled suite of solutions allows teams to control project changes, manage material supplier and subcontractor tasks, enhance communications and collaboration, streamline bidding processes, and improve document management. Thus, the launch of new construction management software will drive the market in focus during the forecast period.
Network and connectivity issues may impede the construction management software market growth. Accessing data from SaaS-based and cloud-based systems requires high bandwidth for faster data retrieval. Accessing terabytes of data from cloud-based storage systems requires efficient IT systems that are free from networking blockages. Cloud-based solutions are deployed to gain faster data access and run operations smoothly in enterprises. Any connectivity issues in the information and communication technology (ICT) infrastructure can reduce business performance, and enterprises may shift to on-premises solutions. Cloud-based solutions involve enterprise data transfer from the enterprise's local area network (LAN) to a wide area network (WAN) on the cloud. This has led to an increase in the need for higher bandwidths. The time taken to store and retrieve data could vary from seconds to hours, depending on the location of the data stored and the bandwidth allocated. Unlimited bandwidths will increase the costs associated with data transfer. Enterprises, therefore, need to decide on their bandwidth requirements after carefully assessing their data volumes and business needs.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Construction Management Software Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Trimble Inc. - Under this segment, the company offers construction management software. Its key offerings include construction management software with budget and cost management, document control, and field management.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 enabling simplified and streamlined management of labor, site events, data capture, as well as information and material costs. With the deployment of this software, contractors will increase the profitability and efficiency of their projects. Contractors and sub-contractors need an efficient management solution to deliver high-quality work. A busy contractor can leverage the features of construction management software to enhance the project and the overall performance of the team.
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The builders and constructors segment showed a gradual increase in market share from USD 568.14 million in 2017 and continued to grow by 2021. Mike Montgomery, a general contractor in Boston, is using the construction project management software provided by Owner InSite. The features of the software are pre-construction and construction planning, budgeting, and permit clearances. The biggest benefit as per the contractor was the quick and professional support offered by Owner Insite. The Sage Group Plc (Sage Group) also provides a fully integrated solution for builders and contractors, namely the Sage 100 Contractor. It manages all the phases of construction and also provides service management.
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North America is projected to contribute 32% to market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America has some of the most advanced and developing economies in the world, such as the US and Canada, which increases the rate of infrastructure development. In countries such as Mexico, construction management software solutions are adopted in major construction projects like the construction of the Mexico City New International Airport. The US has always been a lucrative market for vendors as it is an early adopter of advanced technologies across different industry verticals. The strong existence and penetration of the top vendors, such as BENTLEY SYSTEMS and Trimble, speed up the overall market growth in the region.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
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Construction Management Software Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.14% |
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Market growth 2023-2027 |
USD 986.36 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.63 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 32% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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. |
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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, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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