“Construction Management Software Market” - a comprehensive market study by RationalStat assesses the global market based on type, end-user, purpose, project value, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. The report underlines the market share analysis, production capacities by leading players, competition overview, strategic imperatives, annual sales figures, growth avenues, production overview, and competition assessment for the target players assessed in the global construction management software market study.
Market Overview and Dynamics: The need to increase productivity to fuel the market growth
The construction management software market is expected to grow at a CAGR of around 15% during the forecast period of 2022-2028. The rise in the need to analyze the requirements of construction projects and examine the internal and external factors affecting the same are expected to raise the demand for construction management software in the forthcoming years.
In addition, the government’s efforts to develop smart infrastructure across various countries are anticipated to further fuel the market growth. This will entail improved coordination of capabilities between employees involved in a construction project.
- On the basis of type, Cloud-based construction management software is expected to propel the market growth due to the enhancement in productivity by increasing communication between employees.
- On the basis of end users, the industrial sector including roads, railways, airports, etc. is expected to hold a significant share of the global construction management software owing to rapid urbanization and industrialization contributing to the demand for construction management software.
- Based on region, North America and Europe constitute around half of the global construction management software market and are expected to dominate the market in the forthcoming years due to the prevalence of electronic tendering in large infrastructural projects.
Competition Analysis: Developed Economies to dominate the market in the upcoming years
The global construction management software market experiences moderate competition due to the presence of significant established companies in the market. The constant government initiatives and multiple ongoing research and development activities taking part in the integration and automation of work processes throughout construction activities will catalyze the growth of the global construction management software market.
Product innovations, launches, and partnerships are the identified industry trend in the global construction management software market. Significant consolidation is expected in the global market during the assessed period 2022-2028.
- In 2022, RedTeam Software, LLC, a leading construction management software provider, announced the acquisition of Paskr Inc.
- In 2021, Procore Technologies, Inc. acquired LabourChart to improve construction workforce management.
- In May 2019, the San Diego-based software developer eSub Construction Software raised US$ 12 million in financing for its project management platform for contractors.
- In 2018, Fortive, a diversified industrial group, acquired Gordian, a construction software company, from Warburg Pincus and Education Growth Partners for approximately US$ 775 million in cash.
Some of the leading players contributing significantly to the global construction management software include Procore Technologies, Inc., RIB Software SE (Schneider Electric), Bentley Systems, Inc., Contractor Foreman, BPA Solutions, Fortive, Trimble Inc. (Viewpoint), Oracle, Archdesk, Nexvia, Builderhead, Nemetschek Group, Capmo GmbH, RedTeam, among others.
RationalStat has segmented the global construction management software market on the basis of type, end-user, purpose, project value, and region
- By Type
- Web Application
- Mobile Application
- Cloud or Server-based Application
- By End User
- General Contractor/Builders
- Commercial and Non-residential
- Other Public Spaces
- Solar Farms
- Marine, Landfills, and others
- By Purpose
- Construction Accounting and Job Costing Software
- Construction Bid Management Software
- Construction CRM
- Construction Document Management
- Construction ERP
- Construction Project Management
- Construction Field Management Software
- Others (Workflow management, safety, quality management, etc.)
- By Project Value
- Up to US$ 500 Million
- US$ 500 Million to US$ 1,000 Million
- More than US$ 1,000 Million
- By Region
- North America
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
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