Press release
Global Construction Software Market to Reach $7.35 Billion by 2029, Growing at 12.5% CAGR
Construction Software
The growth of the construction software market is expected to be driven by the increasing number of construction projects. These projects involve planning, executing, and managing building and infrastructure developments. The rise in urbanization, infrastructure development, and renovation projects globally is contributing to this increase. Construction software is used to streamline management, improve communication, optimize scheduling, and allocate resources efficiently, ultimately enhancing productivity and reducing costs. For example, in June 2023, the Northern Ireland Statistics and Research Agency reported a 6.5% overall expansion in the construction industry from Q1 2022 to Q1 2023, with housing growing by 11.1% and infrastructure by 3.7%. Hence, the growing number of construction projects is propelling the construction software market.
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What is the projected compound annual growth rate (CAGR) of the construction software market from 2025 to 2034, and what factors influence it?
The construction software market has experienced rapid growth in recent years. It will increase from $4.06 billion in 2024 to $4.59 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. This growth is driven by labor shortages in the construction industry, regulatory requirements, the increasing scale and complexity of construction projects, a rising number of stakeholders, and the widespread use of mobile devices in the industry.
The construction software market is projected to grow to $7.35 billion by 2029, with a CAGR of 12.5%. Growth is fueled by a focus on sustainable construction, demand for project management tools, increased BIM adoption, digital transformation, and the need for seamless system integration. Trends include innovations in construction technology, cloud computing, AI and machine learning integration, and enhanced collaboration tools.
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How are the latest trends influencing the growth of the construction software market?
In the construction software market, companies are introducing user-friendly software to boost efficiency in construction projects. For example, in April 2023, Topcon Positioning Systems launched Digital Layout, an intuitive construction software designed for contractors. It supports 2D, 3D, and BIM workflows, enabling better accuracy and productivity for professionals across various construction sectors.
What are the major segments of the construction software market and their role in driving growth?
The construction software market covered in this report is segmented -
1) By Type: Project Management, Account Or Financial Management, Quality And Safety, Field Productivity, Other Types
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Large Enterprise, Small And Medium Enterprises
4) By Application: General Contractors, Building Owners, Architects And Engineers, Sub-Contactors, Specialty Contractors
Subsegments:
1) By Project Management: Scheduling Software, Collaboration Tools, Project Tracking And Reporting
2) By Account Or Financial Management: Budgeting And Forecasting Software, Billing And Invoicing Software, Financial Reporting And Analytics
3) By Quality And Safety: Safety Management Software, Quality Control And Compliance Software, Risk Management Software
4) By Field Productivity: Mobile Workforce Management Software, Time Tracking And Labor Management Software, Equipment Management Software
5) By Other Types: Estimating And Bidding Software, Building Information Modeling (BIM) Software, Procurement And Supply Chain Management Software
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Which regions are key players in the growth of the construction software market?
North America was the largest region in the construction software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the construction software market?
Major companies operating in the construction software market are Microsoft Corporation, Oracle Corporation, Intuit Inc., Autodesk Inc., Constellation Software Inc., Trimble Inc., Sage Group plc, Bentley Systems Inc., Nemetschek Group, Jonas Construction Software Inc., Procore Technologies Inc., ConstructConnect Inc., Buildertrend Solutions Inc., Computer Methods International Corp. (CMiC), InEight Inc., Heavy Construction Systems Specialists Inc. (HCSS), STACK Construction Technologies Inc., Fieldwire, Bridgit Inc., Plexxis Software Inc., CoConstruct LLC, Corecon Technologies Inc., Esticom Inc.
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What Is Covered In The Construction Software Global Market Report?
•Market Size Forecast: Examine the construction software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the construction software market for a structured understanding.
•Key Players Overview: Analyze major players in the construction software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the construction software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the construction software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the construction software market.
•Industry Challenges: Identify potential risks and obstacles affecting the construction software market.
•Competitive Landscape: Review strategic developments in the construction software market, including expansions, agreements, and new product launches.
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