NEW YORK, Nov. 22, 2021 /PRNewswire/ -- "Construction Management Software Market by Deployment, End-user, and Geography - Forecast and Analysis 2021-2025" has been added to Technavio's offering. The report features Autodesk Inc., Bentley Systems Inc., and Buildertrend Solutions Inc. among others as dominant players in the market.
The market is expected to witness a YOY growth rate of 5.14% in 2021 and will progress at a CAGR of 8% during the forecast period. The report segments the market by end-user (builders and contractors, construction managers, and engineers and architects), deployment (cloud-based and on-premise), and geography (North America, Europe, APAC, MEA, and South America).
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The global construction management software market is fragmented due to the presence of several global and regional players.
Global players are expected to grow inorganically by acquiring regional or local players.
For instance, in May 2021, Autodesk Inc. announced the acquisition of Upchain, a provider of instant-on, cloud-based product lifecycle management (PLM) and product data management (PDM) solutions. In the same month, the company also acquired Innovyze, a provider of smart water infrastructure modeling.
Some vendors are making significant investments in R&D and incorporating the latest technologies to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Bentley Systems Inc.
Buildertrend Solutions Inc.
Computer Methods International Corp.
Procore Technologies Inc.
Sage Group Plc
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Free Sample Report.
Geographical Market Analysis
The report analyzes the growth of the construction management software across APAC, Europe, MEA, North America, and South America.
The market will witness maximum growth in North America during the forecast period.
North America currently holds 31% of the global market share, which is majorly driven by the presence of a large pool of prominent players in the region.
Besides, the growth of online retailing in the US has created significant opportunities for players operating in the North American market.
Countries such as the US, China, the UK, Germany, and Canada are expected to emerge as prominent markets for construction management software during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/construction-management-software-market-industry-analysis
Key Market Drivers & Challenges:
The market is driven by the increasing requirement for large-scale project management.
The growing focus on cultivating and managing necessary resources for efficient product outputs among end-users is creating the need for large-scale construction project management solutions.
Construction management software help end-users handle project-related inquiries easily and effectively while reducing response times and increasing productivity.
Also, construction management solutions reduce the need for paperwork, thereby leading to lower workload and efficient project planning and scheduling.
The availability of open-source platforms will hinder the growth of market players.
The growth of the digitization has increased the availability of open-source construction management software solutions in the market.
Some of the popular open-source software solutions in the market already offer various benefits such as availability of free source codes, faster deployments, reliability, and rapid prototyping, which is reducing the demand for construction management software solutions offered by market players.
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Construction management software Market Value Chain Analysis
It includes the following core components:
Marketing and sales
Construction Management Software Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8%
Market growth 2021-2025
USD 630.51 million
YoY growth (%)
5.14% in 2021
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 31%
Key consumer countries
US, China, UK, Germany, and Canada
Leading companies, competitive strategies, consumer engagement scope
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.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
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