Strategic Analysis to Understand the Competitive Outlook of Construction Management Software Market
Strategic Analysis to Understand the Competitive Outlook of Construction Management Software Market
Published by TMR Research Insights
Posted on August 10, 2021
Construction Management Software: Introduction
Construction management software is used to develop, create, manage, and execute an effective construction management plan. It provides end-users with effective construction planning, which defines the project goals, scope, and budget.
Construction management software is also used as a project optimization tool that provides various features such as materials management, quality management, progress management, document management, payment management, and manpower management of large and complex plant construction
Construction management software also optimizes the construction project cost. It is useful for home builders, remodelers, specialty contractors, and general contractors.
The global construction management software market is projected to expand at a rapid pace during the forecast period, due to increase in demand for construction management software among end-users.
Global Construction Management Software Market: Dynamics
Global Construction Management Software Market: Key Drivers and Restraints
Rise in need to analyze project requirements and understand the internal or external factors of construction projects is expected to boost the construction management software market in the next few years
Increase in demand to enhance the productivity of a construction project by improving communication between employees and reducing the response time is also anticipated to boost the construction management software market during the forecast period
Rise in adoption of cloud-based construction management software is estimated to propel the market during the forecast period
Increase in government initiatives for development of smart infrastructure and smart homes across the globe is likely to propel the construction management software market during the forecast period.
Increasing demand for construction management software tools which can view the risk levels associated with numerous tasks and processes of operations management is anticipated to propel the construction management software market in the next few years.
However, interoperability issues and lack of technical expertise is projected to hinder the construction management software market during the forecast period. Additionally, lack of awareness about the benefits of construction management software is anticipated to hamper the market.
Impact of COVID-19 on the Global Construction Management Software Market
The COVID-19 pandemic has significantly impacted the global construction management software business. The pandemic has adversely affected the sales of construction management software. Restriction on travel and limitation in supply chain of raw materials have also negatively impacted the construction sector.
Construction management software solution providers are launching new products with advanced functions to cope up with social distancing and guidelines on avoidance of physical contact during the COVID-19 pandemic. This is boosting the demand for construction management software.
North America to Hold Major Share of Global Construction Management Software Market
In terms of region, the global construction management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global construction management software market in 2020, due to the presence of a large number of construction management software companies and high adoption of software in the region. The U.S. is the key country of the market in the region owing to extensive adoption of construction management software in the country during the COVID-19 pandemic.
The construction management software market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be ascribed to the growth in industrialization and digitization in China, Japan, and India. Increase in government initiatives to opt for smart infrastructure is expected to create lucrative opportunities for the construction management software market.
Global Construction Management Software Market: Competition Landscape
Several local, regional, and international players are active in the construction management software market with strong presence. Rapid technological advancements have led to creation of opportunities in the market. Vendors of construction management software are focusing on inorganic growth strategies such as strategic collaborations and merger and acquisition with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.
Key Players Operating in Global Construction Management Software Market Include:
Autodesk Inc.
Bentley Systems Inc.
Buildertrend Solutions, Inc.
Computer Methods International Corporation
ConstructConnect Inc.
Odoo SA
Oracle Corporation
Procore Technologies Inc.
Sage Group Plc
Trimble Inc.
Global Construction Management Software Market: Research Scope
Global Construction Management Software Market, by Component
Software/Tool
Services
Global Construction Management Software Market, by Deployment
On-premise
Cloud
Global Construction Management Software Market, by End-user
Construction Managers
Builders & Contractors
Engineers & Architects
Others
Global Construction Management Software Market, by Region
North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Construction management software is used to develop, create, manage, and execute an effective construction management plan. It provides end-users with effective construction planning, which defines the project goals, scope, and budget.
Construction management software is also used as a project optimization tool that provides various features such as materials management, quality management, progress management, document management, payment management, and manpower management of large and complex plant construction
Construction management software also optimizes the construction project cost. It is useful for home builders, remodelers, specialty contractors, and general contractors.
The global construction management software market is projected to expand at a rapid pace during the forecast period, due to increase in demand for construction management software among end-users.
Global Construction Management Software Market: Dynamics
Global Construction Management Software Market: Key Drivers and Restraints
Rise in need to analyze project requirements and understand the internal or external factors of construction projects is expected to boost the construction management software market in the next few years
Increase in demand to enhance the productivity of a construction project by improving communication between employees and reducing the response time is also anticipated to boost the construction management software market during the forecast period
Rise in adoption of cloud-based construction management software is estimated to propel the market during the forecast period
Increase in government initiatives for development of smart infrastructure and smart homes across the globe is likely to propel the construction management software market during the forecast period.
Increasing demand for construction management software tools which can view the risk levels associated with numerous tasks and processes of operations management is anticipated to propel the construction management software market in the next few years.
However, interoperability issues and lack of technical expertise is projected to hinder the construction management software market during the forecast period. Additionally, lack of awareness about the benefits of construction management software is anticipated to hamper the market.
Impact of COVID-19 on the Global Construction Management Software Market
The COVID-19 pandemic has significantly impacted the global construction management software business. The pandemic has adversely affected the sales of construction management software. Restriction on travel and limitation in supply chain of raw materials have also negatively impacted the construction sector.
Construction management software solution providers are launching new products with advanced functions to cope up with social distancing and guidelines on avoidance of physical contact during the COVID-19 pandemic. This is boosting the demand for construction management software.
North America to Hold Major Share of Global Construction Management Software Market
In terms of region, the global construction management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global construction management software market in 2020, due to the presence of a large number of construction management software companies and high adoption of software in the region. The U.S. is the key country of the market in the region owing to extensive adoption of construction management software in the country during the COVID-19 pandemic.
The construction management software market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be ascribed to the growth in industrialization and digitization in China, Japan, and India. Increase in government initiatives to opt for smart infrastructure is expected to create lucrative opportunities for the construction management software market.
Global Construction Management Software Market: Competition Landscape
Several local, regional, and international players are active in the construction management software market with strong presence. Rapid technological advancements have led to creation of opportunities in the market. Vendors of construction management software are focusing on inorganic growth strategies such as strategic collaborations and merger and acquisition with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.
Key Players Operating in Global Construction Management Software Market Include:
Autodesk Inc.
Bentley Systems Inc.
Buildertrend Solutions, Inc.
Computer Methods International Corporation
ConstructConnect Inc.
Odoo SA
Oracle Corporation
Procore Technologies Inc.
Sage Group Plc
Trimble Inc.
Global Construction Management Software Market: Research Scope
Global Construction Management Software Market, by Component
Software/Tool
Services
Global Construction Management Software Market, by Deployment
On-premise
Cloud
Global Construction Management Software Market, by End-user
Construction Managers
Builders & Contractors
Engineers & Architects
Others
Global Construction Management Software Market, by Region
North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
