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

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.

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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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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

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