As part of its research, Allied Market Research released the report “Construction Management Software Market by Offering and Service,” by Deployment Methods (On-Premises and Cloud), by Building Types (Commercial Buildings and Residential Buildings), as well as by End-User (Architects, Designers, Construction Managers, and Others): Global Opportunity Analysis and Forecast, 2021-2031.
According to the report, the global fish processing industry will grow at an average rate of 10.2% per year between 2022 and 2031. This report provides an in-depth analysis of market trends, key segments, and key investment pockets, along with value chains, regional landscapes, and competitive scenarios relevant to the industry.
Drivers, restraints, and opportunities
The global market for construction blogging will grow as long as the construction sector is strong and government policies support construction activities. There is, however, a possibility that the growth of this industry may be limited by high deployment and maintenance costs as well as a shortage of skilled workers. As a result of the emergence of new technologies such as artificial intelligence and the internet of things, there is expected to be a significant increase in the global market growth in the next few years.
The Covid-19 scenario:
- Global construction management market growth was affected by the COVID-19 pandemic due to the widespread use of monitoring and remote management software.
- The software also helped construction companies overcome challenges like lower revenue margins, less productivity, and decreased research activities.
In terms of revenue, the solution segment is expected to dominate the global market by 2031. As the global construction management software market is expected to grow by almost two-thirds in 2021, it is expected that the solutions segment will have the largest market share in that year. Over the forecast period, the segment is also predicted to contribute to the global market share significantly. It is mainly because there is a growing demand for construction work in the large construction sector. The service segment will have the highest CAGR between 2022 and 2031, with a growth rate of 11.3%. As a result of the large number of companies using construction management software within their respective organizations, this is the case.
Over 2022-2031, the Largest Market Share Will Be Held by the On-Premise Segment
According to the market share data, deployment mode accounted for most of the market share. According to the Global Construction Management System Market Share report, almost three-fifths (or almost three-fifths) of the global market share will be held by the on-premise segment in 2021. During the forecast period, it is expected that the same segment will also play a decisive role in driving the growth of the global market.
The segment’s growth over the assessment period is expected to be driven primarily by the strong online security provided by construction management software and on-site construction management solutions. Cloud computing is predicted to grow at a CAGR of 11.4% over the next few years.
With cloud-based construction management tools and field service management software, deployment scalability and ease of use can be greatly improved. As a result, the segment is expected to grow at an increased rate over the forecast period.
During the Forecast Period, the Commercial Building Segment is Expected to Lead the Global Market in Terms of Growth
It is estimated that the commercial buildings segment will account for almost three-quarters of the global construction software market share. In addition, this segment will make a significant contribution to the market share of the global market by the year 2031. The rapid growth of this market can be largely attributed to the rapid development of construction management software. It is expected that the residential building segment will grow at a compound annual growth rate of 12.9% over the forecast period. Due to the digitization of smaller-scale construction companies and independent contractors in this sector, segment growth can be attributed to the growth of this sector overall.
Global Market to be Dominated by Project Management and Scheduling Segments by 2031
As a result, the project management and field service scheduling market segment accounted for almost one-third of the global construction management software market share. A significant global market share is expected to be contributed by the same segment in 2031. This can be attributed to the fact that quality construction activities are in high demand.
During the forecast period, it is expected that the safety and reporting segment will grow at a compound annual growth rate of 12.9%. A major factor contributing to the sector’s growth is the increasing safety requirements in the construction sector, and the strict safety reporting guidelines drafted by different governments.
North America to maintain global market dominance over 2022-2031
The North American region contributed significantly to the overall global construction management software market share of 2021 and will continue to dominate the market during the forecast period. In 2021, the region was responsible for more than a third of the global construction software market share. Favorable government policies are responsible for the regional market growth during the forecast timeframe. The Asia-Pacific construction management market will see a 11.1% CAGR between 2022 and 2131. The sub-continent’s digital transformation has contributed to the growth of the region’s market over the forecast period.
Principal market players:
- Brunswick Corporation Autodesk, Inc.
- Constructconnect, Inc.
- Bentley Systems, Inc.
- Oracle Corporation
- e-Builder, Inc.
- Buildstar Technology
- Odoo SA
- Jonas Construction Software, Inc.
- Pland Grid, Inc.
- Sage Group plc
- Viewpoint, Inc.
- TRIMBLE, INC.
- Systemates, Inc.
This report examines the key players in global construction management software markets. These companies have used key business strategies, such as new product launches, alliances, and joint ventures to increase market penetration and strengthen their position within the industry. This report assists the target audience to determine the market performance, performance in each segment, product portfolio developments in the market and the contributions of each player to market expansion.