Global Construction Software Market - Growth, Statistics, Share, Key Country and Regional Forecast 2023
Synopsis
The detailed report published by Market Research Future (MRFR) projects that the global construction software market is marked to exhibit notable expansion at a CAGR of 8.8% during the forecast period of 2017-2023 and reach the market valuation of USD 2715.6 Mn by the end of 2023. Rapid infrastructural development, especially in the urban areas of various regions, has induced high demand for optimization of all the processes in the construction industry. Construction software aids in increasing the productivity and work efficiency by reducing the time required to carry out various processes like cost estimation, construction design, and management of raw materials and others. Increased adoption of cloud-based solutions due to their multiple benefits over traditional methods in building and construction industry and high demand for advanced technology to optimize the construction process are majorly propelling the growth of the global construction software market. However, low penetration of advanced technology in the underdeveloped countries and lack of skilled professionals to operate the software are restraining the growth of the global construction software market during the assessment period.
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Various factors are propelling the construction software market. These factors, as specified by the Market Research Future (MRFR) report, include growing investments made in the construction sector due to lax regulations, rapid urbanization, growing popularity of cloud-based construction management software, and compatibility of cloud technology with software that has the potential of building customized packages for storing and managing data.
Segmental Analysis
The global construction software market has been segmented on the basis of product and application. Based on product, the global construction software market has been segmented into cloud-based, on-premise based, and web-based. The on-premise based segment is forecasted to project notable growth in the global construction software market during the assessment period, whereas, the cloud-based segment is marked to exhibit high growth potential in the global construction software market during the assessment period. Based on application, the global construction software market has been segmented into building owners, independent construction managers, general contractors, and sub-contractors. The general contractors segment commands the dominant share of the global construction software market during the review period.
Regional Analysis
Based on the region, Global Construction Software Market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. This is owing to increasing adoption of cloud technology and need to reduce paperwork and design time. The US is the key contributor here. The public sector here is investing heavily in the construction industry, which is creating higher opportunities for software providers. Moreover, Canada is also contributing due to the growing number of long-term infrastructure plans there.
The construction software market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the quick development of public infrastructure, coupled with increased investment in smart city projects. Main sectors using construction software include housing, healthcare, transportation, and infrastructure. The construction sector in this region is predicted to flourish owing to the development of infrastructural projects such as water/sewerage plants, transportation projects, and electricity works. Besides, governments here are pushing the construction sector to adopt new technology and construction software.
The construction software market in Europe will have a notable growth over the forecast period owing to organizations being involved in construction, engineering, and architecture. Moreover, increasing cost-saving needs and strict government initiatives play an imperative role in pushing market growth in this region.
Key Players
The prime players profiled by MRFR that are operating in the global construction software market are Turtle Creek Software, iSqFt, Builder TREND, Constellation Software Inc., Comprotex Software Inc., BuilderMT, Trimble Inc., Procore Technologies, Oracle Corporation, and Sage Group PLC.
Browse More Details on Report at: https://www.marketresearchfuture.com/reports/construction-software-market-6189
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact:
+1 646 845 9312
Email: sales@marketresearchfuture.com
Blog: http://mrfrblog.com/
The detailed report published by Market Research Future (MRFR) projects that the global construction software market is marked to exhibit notable expansion at a CAGR of 8.8% during the forecast period of 2017-2023 and reach the market valuation of USD 2715.6 Mn by the end of 2023. Rapid infrastructural development, especially in the urban areas of various regions, has induced high demand for optimization of all the processes in the construction industry. Construction software aids in increasing the productivity and work efficiency by reducing the time required to carry out various processes like cost estimation, construction design, and management of raw materials and others. Increased adoption of cloud-based solutions due to their multiple benefits over traditional methods in building and construction industry and high demand for advanced technology to optimize the construction process are majorly propelling the growth of the global construction software market. However, low penetration of advanced technology in the underdeveloped countries and lack of skilled professionals to operate the software are restraining the growth of the global construction software market during the assessment period.
Get Free Sample at: https://www.marketresearchfuture.com/sample_request/6189
Various factors are propelling the construction software market. These factors, as specified by the Market Research Future (MRFR) report, include growing investments made in the construction sector due to lax regulations, rapid urbanization, growing popularity of cloud-based construction management software, and compatibility of cloud technology with software that has the potential of building customized packages for storing and managing data.
Segmental Analysis
The global construction software market has been segmented on the basis of product and application. Based on product, the global construction software market has been segmented into cloud-based, on-premise based, and web-based. The on-premise based segment is forecasted to project notable growth in the global construction software market during the assessment period, whereas, the cloud-based segment is marked to exhibit high growth potential in the global construction software market during the assessment period. Based on application, the global construction software market has been segmented into building owners, independent construction managers, general contractors, and sub-contractors. The general contractors segment commands the dominant share of the global construction software market during the review period.
Regional Analysis
Based on the region, Global Construction Software Market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. This is owing to increasing adoption of cloud technology and need to reduce paperwork and design time. The US is the key contributor here. The public sector here is investing heavily in the construction industry, which is creating higher opportunities for software providers. Moreover, Canada is also contributing due to the growing number of long-term infrastructure plans there.
The construction software market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the quick development of public infrastructure, coupled with increased investment in smart city projects. Main sectors using construction software include housing, healthcare, transportation, and infrastructure. The construction sector in this region is predicted to flourish owing to the development of infrastructural projects such as water/sewerage plants, transportation projects, and electricity works. Besides, governments here are pushing the construction sector to adopt new technology and construction software.
The construction software market in Europe will have a notable growth over the forecast period owing to organizations being involved in construction, engineering, and architecture. Moreover, increasing cost-saving needs and strict government initiatives play an imperative role in pushing market growth in this region.
Key Players
The prime players profiled by MRFR that are operating in the global construction software market are Turtle Creek Software, iSqFt, Builder TREND, Constellation Software Inc., Comprotex Software Inc., BuilderMT, Trimble Inc., Procore Technologies, Oracle Corporation, and Sage Group PLC.
Browse More Details on Report at: https://www.marketresearchfuture.com/reports/construction-software-market-6189
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Contact:
+1 646 845 9312
Email: sales@marketresearchfuture.com
Blog: http://mrfrblog.com/
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