There is increase in demand for the large-scale project management and the large-scale construction solutions. This is inspiring organizations to progressively adopt construction software as it helps in the maintaining regular follow-up and the managing resources by automating process. The automation of the operations not only boosts the productivity by minimizing response time but increases connectivity so organizations can handle the project-related inquiries effectively and easily. Thus, increasing requirement for the large-scale project management is anticipated to drive the market growth during forecast period.
The adoption of the lean management concept is targeted at minimizing effective and waste use of resources to provide most productive output possible. Adoption of lean management by the builders, contractors, and the architects is likely to increase functionalities of the construction software and minimize wastage at different stages of projects. Lean management methods run as internal program to reduce the wastage on construction site, in the project management processes, and IT project portfolio.Segment Overview
Based on product, global construction software market is segmented into on-premise, cloud, and web based. Growing commercialization and industrialization in real estate market have created demand for the professional and skilled labor to benefit in the pre-planning and construction oversight. Globally, adoption of construction software is presenting tremendous growth in the upcoming years. One of growing trends in the industry 4.0 is adoption of cloud in different industrial verticals. Cloud possesses capability to run the large applications without needing owning supercomputer or data center. Cloud applications are scalable and powerful and have flexible pricing to attract numerous enterprises to move to cloud.Regional Overview
The market, by region, has been segmented as Asia-Pacific, Europe, North America, and the rest of the world. The North America accounted for largest market share in 2019, the market is likely to register CAGR of 10% during forecast period. Europe was second-largest market in 2019, the market is expected to register considerable CAGR. However, market in Asia-Pacific was anticipated to register highest CAGR. North America is likely to dominate global market in terms of share during the forecast period owing to growing popularity of the cloud-based construction software. Among North American countries, U.S. accounts for largest market share owing to growing investments in construction sector, followed by the Canada and Mexico.Competitor overview
In Sept 2017, the Procore Technologies Inc., combined with the Habitat for the Humanity International through the Procore.org, for offering Procore's suite of the products, including Quality & Safety, Project Management, and Construction Financials an in-kind donation.
In Jan 2018, the Constellation Software Inc. acquired ProArc unit of Tieto Oyj, global software provider to engineering and construction industry. Acquisition helps Constellation to increase its presence in Nordics region.
In Apr 2018, the Trimble acquired Viewpoint, leading provider of the scalable construction software firm. Acquisition benefits Trimble to provide completer and more combined business and project workflows across construction lifecycle.
In Jan 2018, the Oracle Corporation acquired Aconex, Australian software firm. Acquisition benefits Oracle to enlarge its construction software portfolio.
In Feb 2018, the Trimble acquired e-Builder, leading provider of the integrated, and cloud-based construction program software to increase its construction solutions.Key Players
- Sage Group PLC
- Oracle Corporation
- Trimble Inc
- Constellation Software Inc.
- Comprotex Software Inc.
- iSqFt (ConstructConnect)
- Procore Technologies Inc.
- Turtle Creek Software.
- General Contractors
- Building Owners
- Independent Construction Managers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA