LONDON--(BUSINESS WIRE)--The global construction management software market size is poised to grow by USD 508.33 million during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The construction industry witnessed significant growth in recent years. Additionally, the growing investment by the governments of countries such as India, Saudi Arabia, and Qatar in the development of smart cities will also influence the construction industry. As a result of such factors, there is a growing need for large scale process management solutions as organizations primarily focus on cultivating and managing the resources for efficient product outputs. This will subsequently fuel the demand for construction management software as it helps in maximizing output by automating processes.
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- The major construction management software market growth came from the cloud-based solutions segment. With the emergence of startups and SMEs, there is a growing importance on the cost-effectiveness of software solutions. This is leading to the preference for cloud-based solutions.
- The increasing investments in the construction of infrastructure projects or infrastructural development by governments of various countries in Europe will drive construction management software market growth in the region. The presence and penetration of key vendors such as The Sage Group and the advanced technology infrastructure of the UK will also drive the market's growth in this region.
- The global construction management software market is fragmented. Autodesk Inc., Bentley Systems Inc., Buildertrend Solutions Inc., Computer Methods International Corp., ConstructConnect Inc., Odoo SA, Oracle Corp., Procore Technologies Inc., Sage Group Plc, and Trimble Inc. are some of the major market participants. To help clients improve their market position, this construction management software market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global construction management software market 2020-2024 is expected to have Positive and Superior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/construction-management-software-market-industry-analysis
Use of Lean Management to Improve Productivity will be a Key Market Trend
The need to improve productivity will result in the adoption of lean management in the construction management software market. In addition to improving productivity, lean management techniques also help in reducing wastage in the construction site, IT portfolio, and project management processes. Integrated with lean management processes, construction management software can provide additional functionalities to manage product portfolios successfully. Such benefits will result in a rise in the adoption of lean management in construction management, which will, in turn, affect the market landscape. Such factors will positively impact the construction management software market growth.
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Construction Management Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist construction management software market growth during the next five years
- Estimation of the construction management software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the construction management software market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of construction management software market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DEPLOYMENT
- Market segmentation by deployment
- Comparison by deployment
- Cloud-based - Market size and forecast 2019-2024
- On-premises - Market size and forecast 2019-2024
- Market opportunity by deployment
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Builders and contractors - Market size and forecast 2019-2024
- Construction managers - Market size and forecast 2019-2024
- Engineers and architects - Market size and forecast 2019-2024
- Market opportunity by end-user
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Integration of construction management software estimation and accounting software
- Increasing popularity of cloud-based construction management software
- Application of lean management in construction management
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Autodesk Inc.
- Bentley Systems Inc.
- Buildertrend Solutions, Inc.
- Computer Methods International Corp.
- ConstructConnect Inc.
- Odoo SA
- Oracle Corp.
- Procore Technologies Inc.
- Sage Group Plc
- Trimble Inc.
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
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