Document management within construction management software is crucial for streamlining the handling, storage, and retrieval of essential project documents. By digitizing and centralizing documentation, the software minimizes reliance on paperwork, mitigating the risk of errors and ensuring a more efficient workflow. Project teams benefit significantly as they gain access to the latest and most accurate information in real-time. Construction management software, by prioritizing effective document management, contributes to project success by reducing delays, improving communication, and maintaining a comprehensive and up-to-date repository of project-related information.
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Data Bridge Market Research analyses the Global Construction Management Software Market is expected to reach the value of USD 7,144.70 million by 2029, which was USD 4,096.62 million in 2021 and is expected to reach up to a CAGR of 7.2% during the forecast period 2022-2029. The integration of cutting-edge technologies such as building information modeling (BIM) serves as a pivotal driver for the construction management software market. By incorporating these advancements, software solutions enhance project efficiency, streamline stakeholder collaboration, and facilitate data-driven decision-making, marking a crucial shift toward more sophisticated and effective project management tools.
Key Findings of the Study
Increasing globalization of construction projects is expected to drive the market's growth rate
The globalization of construction projects is a key driver for the construction management software market. As construction projects become increasingly multinational, there is a growing need for standardized and centralized project management tools. Construction management software addresses this demand by enabling seamless communication and coordination across diverse teams and locations. The software's ability to centralize project data, streamline workflows, and enhance collaboration makes it indispensable for efficiently managing complex projects globally, driving its widespread adoption in the construction industry.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Solution, Services), Device Type (Smartphone, Computer), Pricing Model (License Based, Subscription Based), Application (Preconstruction, Project Management, Resource Management, Financial Management, Customer Relationship Management Software, Others), Vertical (Residential Construction Contractors, Commercial Construction Contractors, Landscaping Contractor, Construction Manager, Engineer, Architect, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Oracle (U.S.), Procore Technologies, Inc. (U.S.), Intuit Inc. (U.S.), Trimble Inc. (U.S.), ConstructConnect (U.S.), Sage Group plc (U.K.), Autodesk Inc. (U.S.), Buildertrend (U.S.), Smartsheet Inc. (U.S.), Branch Metrics (U.S.), monday.com (Israel), Epicor Software Corporation (U.S.), Jonas Construction Software Inc. (Canada), Wrike, Inc. (U.S.),Finalcad SARL (France), Constellation HomeBuilder Systems (U.S.), CMiC (Canada), ITAakash Strategic Soft. (P) Ltd. (India), RIB CCS (U.K.), V Plan (U.S.), Construct (U.S.), UDA Technologies (U.S.), STACK Construction Technologies (U.S.), Systemates, Inc. (U.S.), Tilos Americas (U.S.), INSPECTIVITY PTY LTD. (Australia), ClockShark, LLC (U.S.), MITEK INC. (U.S.), EZOfficeInventory (U.S.), BENTLEY SYSTEMS, INCORPORATED (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The global construction management software market is segmented on the basis of offering, device type, pricing model, application, and vertical.
- On the basis of offering, the global construction management software market is segmented into solution and services. The solution segment held the maximum share in the market with 54.37% market share due to the essential nature of software tools in addressing diverse needs such as project planning, scheduling, document management, and collaboration
The solution segment of the offering segment dominates the global construction management software market during the forecast period of 2022-2029
The dominance of the solution segment in the global construction management software market, with a market share of 54.37%, is due to the fundamental need for comprehensive and efficient tools that address the diverse requirements of construction projects. Construction management solutions provide a range of features such as project planning, scheduling, budgeting, and collaboration, offering a holistic approach to project management. As construction projects become more complex and data-driven, the demand for robust software solutions increases to streamline processes and enhance overall project efficiency.
- On the basis of device type, the global construction management software market has been segmented into smartphone and computer. The computer segment held a larger share of the market, with 64.79% market share. Computers provide larger screens and advanced computing capabilities for detailed planning, design, and collaboration because of the complex nature of construction project management tasks
- On the basis of pricing model, the global construction management software market is segmented into license based and subscription based. The license based segment held larger share in the market with 64.19% market share due to the preference of certain businesses for a one-time, upfront payment model, providing perpetual access to the software
- On the basis of application, the global construction management software market is segmented into pre-construction, project management, resource management, financial management, customer relationship management, and others. The financial management held largest share in the market with 32.27% market share due to its critical role in overseeing budgeting, cost tracking, invoicing, and financial reporting
- On the basis of vertical, the global construction management software market is segmented into residential construction contractors, commercial construction contractors, landscaping contractors, construction manager, engineer, architect, and others. The residential construction contractors held the largest share in the market with 24.03% market share due to the widespread demand for housing and real estate development
The residential construction contractors segment of the vertical segment dominates the global construction management software market during the forecast period of 2022-2029
The residential construction contractors segment is expected to dominate in the global construction management software market, with a market share of 24.03% due to the substantial growth in residential construction projects worldwide. The increasing demand for housing and urbanization trends have led to a surge in residential construction activities. Residential contractors seeking enhanced project efficiency and streamlined operations are more inclined to adopt construction management software solutions. These tools enable effective project planning, resource management, and collaboration.
Major Players
Data Bridge Market Research recognizes the following companies as the major global construction management software market players in global construction management software market are Oracle (U.S.), Procore Technologies, Inc. (U.S.), Intuit Inc. (U.S.), Trimble Inc. (U.S.), ConstructConnect (U.S.), Sage Group plc (U.K.), Autodesk Inc. (U.S.), Buildertrend (U.S.)
Market Developments
- In November 2022, Bentley Systems, Incorporated launched SYNCHRO Cost and SYNCHRO Perform apps as part of its SYNCHRO construction management solution. These enhancements complement SYNCHRO's industry-leading 4D scheduling and project management systems. Specifically designed to aid contractors in cost control, these apps efficiently link expense tracking and planning of schedules. The introduction of these features reflects Bentley Systems' commitment to providing comprehensive tools that enhance efficiency in construction project management
- In September 2022, ConstructConnect collaborated with Togal.AI, Inc., a software company, to integrate artificial intelligence and machine learning into non-residential pre-construction processes. This strategic move allows ConstructConnect to streamline estimators' tasks, reducing time-consuming actions and enabling a focus on high-value projects. The integration with Togal.AI is a significant step for ConstructConnect to enhance accuracy in estimates and bids, showcasing a commitment to innovation in the construction industry
- In May 2022, Oracle announced a strategic collaboration with Deloitte aimed at enhancing Oracle applications. This collaboration signifies Oracle's commitment to advancing cloud and application technology, ultimately offering an improved solution portfolio to customers. The partnership with Deloitte is poised to elevate the brand value of Oracle by providing customers with more robust and innovative solutions, fostering trust and satisfaction
- In May 2022, Procore Technologies, Inc. proudly announced its recognition as a Top Rated Construction Product by TrustRadius for technology products. This accolade acknowledges Procore's technological prowess and enhances its brand value within the market. The recognition as a top-rated construction product is expected to bolster Procore's credibility and trustworthiness among customers, contributing to accelerated sales growth and market prominence
Regional Analysis
Geographically, the countries covered in the global construction management software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global construction management software market during the forecast period 2022-2029
In Asia Pacific, China dominates the construction management software market is propelled by its robust construction industry, innovative local solutions, government support, and potential global expansion. The country's rapid urban development has created a significant demand for these software solutions, while proactive measures and advancements contribute to its leadership. The dynamic nature of the market underscores the need to stay informed through up-to-date sources for accurate insights into China's ongoing influence.
North America is estimated to be the fastest-growing region in the global construction management software market for the forecast period 2022-2029
North America is expected to experience substantial growth during the forecast period of 2022-2029 in the market due to increased government focus on infrastructure development initiatives. The region is witnessing significant investments in construction projects, including transportation systems and smart city developments, leading to a heightened demand for advanced project management solutions.
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