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Construction Estimating Software Market Size Report, 2033
Construction Estimating Software Market Size
As per the report, the construction estimating software market size has grown strongly in recent years. It will grow from $1.35 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The construction estimating software market size is expected to see strong growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Rising Construction Activity Fuels Growth In The Construction Estimating Software Market
The increasing construction activity is expected to propel the growth of the construction estimating software market going forward. Construction refers to the creation, rebuilding, deconstruction, maintenance, or restoration of buildings, structures, or other civil engineering or architectural work and involves site preparation, excavation, drilling, seismic study, product and material supply, and equipment and machinery supply. The increased construction activity boosts the expansion of the construction estimating software market as construction estimating software offers fast, illustrated, and precise results and data solutions to their clients and also provides cost savings, better planning, faster results, and customer satisfaction. For instance, in April 2023, according to the United States Census Bureau, a US-based primary agency of the Federal Statistics System, construction spending was estimated to be $1,844.1 billion in February 2023, up from $1,753.1 billion in February 2022. Additionally, construction spending in the first two months of 2023 was $260.8 billion, which increased from $246.1 billion in the same period in 2022. Therefore, the increase in construction activity is driving the growth of the construction estimating software market.
Construction Estimating Software Market Fueled By Innovative Solutions
Product innovations are a key trend gaining popularity in the construction estimating software market. Major companies operating in the construction estimating software market are focused on developing innovative products to strengthen their position in the market. For instance, in March 2021, Trimble Inc., a US-based company that plans, creates, and manages real-time networks that consistently produce accurate and trustworthy data, launched Trimble Quest, a cloud-based software-as-a-service (SaaS) for estimating and budgeting for experts in civil construction. This software is intended for civil engineering contractors that require precise estimated costs to efficiently quote and handle finances for civil construction projects. The unique characteristics of Trimble Quest include its team collaboration to accelerate the preconstruction and bidding procedures by building a price database that can be utilized on multiple projects and used to rapidly and correctly produce bids, increased efficiency, and budget management and forecasting.
The construction estimating software market covered in this report is segmented -
1) By Product: Construction Accounting, Construction Management, Construction Suites, Project Management
2) By Software License: Perpetual License, Subscription License, Other Software Licences
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-Use: Architects And Builders, Construction Managers, Contractors, Other End-Users
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Major companies operating in the construction estimating software market report are Autodesk Inc., Bluebeam Inc., Corecon Technologies Inc., Glodon Company Limited, Microsoft Corporation, RIB Software SE, Sage Group PLC, Trimble Inc., AppliCAD PCL, PrioSoft, Buildsoft Pty Ltd., Heavy Construction Systems Specialists Inc., PlanSwift Software LLC, Oracle Corporation, Advanced Electrical Technologies Inc., QuoteSoft Inc., ProEst, Procore Technologies, STACK Construction Technologies, AccuLynx, HCSS, Clear Estimates, RSMeans data, Sigma Estimates, B2W Software, InEight, RedTeam Software, CostX, Esticom, Estimator360 Inc., WinEstimator Inc., Foundation Software, FastEST Inc., eTakeoff LLC, McCormick Systems, ConstructConnect, On Center Software, UDA Technologies, BidScreen XL, Causeway Technologies .
Contents of the report:
1. Executive Summary
2. Construction Estimating Software Market Report Structure
3. Construction Estimating Software Market Trends And Strategies
4. Construction Estimating Software Market - Macro Economic Scenario
5. Construction Estimating Software Market Size And Growth
…..
27. Construction Estimating Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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