The global construction management software market was valued at USD 1.93 billion in 2019 and is expected to reach USD 3.5 million by 2026, expanding at a CAGR of around 8.8 % during the forecast period, 2020–2026. The growth of the market is attributed to increased productivity with minimum response time.
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Construction management software is set of programs which help to manage material requirement, estimates of job work, cost control, labor management, and assessment of risks. It aids in activities from planning to execution of the project work, it designs framework, maximizes resource efficiency and develops communication and hierarchy planning. The software also guides for layout planning with the quality of material requirement and vendor management solutions for materials. The software can efficiently undertake document management and integrate with accounting software for better efficiency and control of funds as per the predetermined construction levels for release of funds.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for large scale construction projects is driving the growth of the market.
- High profitability, agility and security of data are the factors growing demand for the product. This, in turn, is fueling the growth of the market.
- Waste management and process framework are the essential features boosting the growth of the market.
- Interoperability issues and open source platforms are the factors hampering the market growth
- Globally, need automated for management software is rising, which is one of the positive trends that is going to foster the growth of the market during the forecast period.
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Major companies in global construction management software market includes Autodesk Inc, Bentley Systems Inc, BuilderTREND Solutions Inc, Computer Methods International Corp, Constructconnect Inc, Odoo S.A, Oracle Corporation, Procore Technologies Inc, Sage Group plc, and Trimble Inc. The market players are involved in developing multipurpose and integrated software solutions for efficient and capable to provide breakthrough solutions to amplify their growth and thereby gain valuable traction in global market place. The companies are engaging in making strategic decisions such as product launches, R&D, agreements, and collaborations to gain market share.
The global construction management software market has been segmented on the basis of
- Construction Managers
- Engineers & Architects
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Construction Management Software Market Overview
- Global Construction Management Software Market Analysis and Forecast by Type
- Global Construction Management Software Market Analysis and Forecast by Application
- Global Construction Management Software Market Analysis and Forecast by Sales Channel
- Global Construction Management Software Market Analysis and Forecast by Region
- North Construction Management Software Market Analysis and Forecast
- Latin Construction Management Software Market Analysis and Forecast
- Europe Construction Management Software Market Analysis and Forecast
- Asia Pacific Construction Management Software Market Analysis and Forecast
- Middle East & Africa Construction Management Software Market Analysis and Forecast
- Competition Landscape
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