What Fueled The Previous Growth In The Construction Software Market?
The construction software market has seen considerable growth due to a variety of factors.
• The construction software market has seen rapid growth in recent years. It will rise from $4.06 billion in 2024 to $4.59 billion in 2025, at a compound annual growth rate (CAGR) of 12.9%.
This growth is attributed to labor shortages in the construction industry, increasing regulatory requirements, the complexity and scale of construction projects, the rising number of stakeholders, and the widespread use of mobile devices and tablets in the industry.
What Can Be Expected from the Construction Software Market Size?
The construction software market is expected to maintain its strong growth trajectory in upcoming years.
• The construction software market will grow to $7.35 billion by 2029, with a CAGR of 12.5%.
The market growth is driven by the focus on sustainable construction, growing demand for project management tools, increased adoption of building information modeling (BIM), digital transformation, and the need for seamless system integration. Trends include innovations in construction technology, the shift to cloud computing, AI and machine learning integration, and enhanced collaboration tools.
What Are the Critical Driver Fuelling The Construction Software Market's Growth?
The construction software market is projected to grow due to an increase in construction projects. These projects, which involve the planning and execution of building structures and infrastructure, are expanding as demand for urbanization and infrastructure development rises. Construction software aids in streamlining project management, improving scheduling, and optimizing resources. The Northern Ireland Statistics and Research Agency’s report for 2023 showed a 6.5% growth in the overall construction industry from Q1 2022 to Q1 2023.
How Is The Construction Software Market segmented?
The construction software market covered in this report is segmented –
1) By Type: Project Management, Account Or Financial Management, Quality And Safety, Field Productivity, Other Types
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Large Enterprise, Small And Medium Enterprises
4) By Application: General Contractors, Building Owners, Architects And Engineers, Sub-Contactors, Specialty Contractors
Subsegments:
1) By Project Management: Scheduling Software, Collaboration Tools, Project Tracking And Reporting
2) By Account Or Financial Management: Budgeting And Forecasting Software, Billing And Invoicing Software, Financial Reporting And Analytics
3) By Quality And Safety: Safety Management Software, Quality Control And Compliance Software, Risk Management Software
4) By Field Productivity: Mobile Workforce Management Software, Time Tracking And Labor Management Software, Equipment Management Software
5) By Other Types: Estimating And Bidding Software, Building Information Modeling (BIM) Software, Procurement And Supply Chain Management Software
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What Trends Are Reshaping The Future Of The Construction Software Market?
In the construction software market, companies are creating easy-to-use digital tools to streamline construction management. For example, in April 2023, Topcon Positioning Systems launched Digital Layout software, designed to support 2D, 3D, and BIM workflows to help contractors improve efficiency, accuracy, and productivity in building construction.
Who Are the Key Players In The Construction Software Market?
Major companies operating in the construction software market are:
• Microsoft Corporation
• Oracle Corporation
• Intuit Inc.
• Autodesk Inc.
• Constellation Software Inc.
• Trimble Inc.
• Sage Group plc
• Bentley Systems Inc.
• Nemetschek Group
• Jonas Construction Software Inc.
• Procore Technologies Inc.
• ConstructConnect Inc.
• Buildertrend Solutions Inc.
• Computer Methods International Corp. (CMiC)
• InEight Inc.
• Heavy Construction Systems Specialists Inc. (HCSS)
• STACK Construction Technologies Inc.
• Fieldwire
• Bridgit Inc.
• Plexxis Software Inc.
• CoConstruct LLC
• Corecon Technologies Inc.
• Esticom Inc.
What Is The Most Dominant Region In The Construction Software Market?
North America was the largest region in the construction software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
