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Construction Management Software Market: Growth, Demand, Size And Share And Forecast To 2033
Construction Management Software Market
Construction Management Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $15.17 billion In 2028 At A CAGR Of 9.4% :
The construction management software market size has grown rapidly in recent years. It will grow from $9.51 billion in 2023 to $10.56 billion in 2024 at a compound annual growth rate (CAGR) of 11.%. The growth in the historic period can be attributed to rise of mobile technology, shift to cloud computing, regulatory compliance requirements, focus on project cost management, demand for real-time communication.
The construction management software market size is expected to see strong growth in the next few years. It will grow to $15.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to regulatory compliance tools, predictive maintenance for equipment, enhanced collaboration platforms, demand for modular construction software, cybersecurity advancements. Major trends in the forecast period include enhanced user experience, artificial intelligence (AI) for project insights, real-time collaboration platforms, sustainable construction features, mobile-first solutions.
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Construction Management Software Market Major Segments
The construction management software market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Building Type: Commercial Buildings, Residential Buildings
4) By Application: Project Management And Scheduling, Safety And Reporting, Project Design, Field Service Management, Cost Accounting, Other Applications
5) By End-User: Architects And Designers, Construction Managers, Other End Users
Key Driver - Digitalization Driving Construction Management Software Market Growth
The growing demand for digitalization in the construction industry is expected to propel the growth of the construction management software market in the coming years. Digitalization in the construction industry refers to the widespread adoption and integration of digital technologies and processes throughout the entire construction lifecycle. Digitalization plays a crucial role in construction management software by embracing digital tools and processes, construction companies can achieve significant improvements in efficiency, cost control, risk management, quality, and safety, ultimately leading to more successful project outcomes. For instance, in July 2023, according to the Royal Institution of Chartered Surveyors (RICS), a UK-based professional organization, around 40% of respondents increased the use of digital technologies for key project aspects, compared to 37% in Q4 2021. Therefore, the growing demand for digitalization in the construction industry is driving the growth of the construction management software market.
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Prominent Trend - Strategic Emphasis On BIM Integration In The Construction Management Software Market
Major companies operating in the construction management software market are focusing on the integration of advanced technologies, such as building information modeling (BIM), to gain a competitive advantage. Building information modeling (BIM) software in construction refers to digital tools for creating, managing, and collaborating on 3D models that incorporate building information throughout the project lifecycle. For instance, in July 2023, Cemex, a Mexico-based building materials company, introduced a dedicated plug-in for building information modeling (BIM) REVIT software, enhancing the design and management of construction projects. This tool facilitates architects and engineers in selecting optimal Cemex products, emphasizing innovation and sustainability. It is tailored for professionals in residential, commercial, industrial, or infrastructure projects. Cemex's BIM software enables concrete product searches by properties, comparisons based on essential characteristics, and identification of embodied carbon values. Users can access detailed information on materials, including physical and mechanical performance, with a focus on recommending sustainable solutions from Cemex's Vertua range.
Construction Management Software Market Players
Major companies operating in the construction management software market report are Oracle Corporation, SAP SE, Kiewit Corporation, Hilti Corporation, Roper Technologies Inc., Trimble Inc., Autodesk Construction Cloud (ACC), Nemetschek SE, Procore Technologies Inc., Hyland Software Inc., Odoo SA, Viewpoint, Constellation Homebuilder Systems, CMiC, Aconex, Chetu Inc., Systemates Inc., Buildertrend Solutions Inc., Prolog, Bluebeam Revu, Computer Methods International Corp., Jonas Enterprise Construction Software, Penta Technologies Inc., Cosential, Constructware
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Largest And Fastest Growing Region In The Market
North America was the largest region in the construction management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Construction Management Software Market Report Structure
3. Construction Management Software Market Trends And Strategies
4. Construction Management Software Market - Macro Economic Scenario
5. Construction Management Software Market Size And Growth
…..
27. Construction Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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