Construction Software Market Research Report - Global Forecast to 2027

Global Construction Software Market Research Report: By Product (Cloud, On-Premise and Web-Based), Application (General Contractors, Building Owners, Independent Construction Managers and Sub-Contractors) - Forecast till 2027

ID: MRFR/ICT/4730-CR | January 2020 | Region: Global | 92 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Impact of covid-19 on the Global Construction Software Market
Construction Software Market


The outbreak of the Coronavirus (COVID-19) has caused a lot of hardship across the world. People are struggling with the effects of the COVID-19 pandemic on their health, the economy, and society at large. The Coronavirus pandemic has crippled various industries, including the construction industry. Some of the public construction companies have managed to survive due to public sector construction work. However, these activities are expected to continue for only a short term since the lockdown is expected to continue across several countries. Public-sector construction is expected to halt due to disruptions in the supply chains caused by lack of material and shortage of subcontractors. Companies are terminating contracts to control their expenses. Due to this decline in the construction industry. There has been a significant impact on the construction software market. According to Associated General Contractors (AGC), around 40% of construction firms have had to lay off staff due to the Coronavirus (COVID-19) outbreak.
outbreak


The construction software market is expected to experience a slight decline due to the COVID-19 outbreak, as many construction sites across the globe have stopped operations. However, cutting-edge technologies in the construction industry, such as communication tools, drones, virtual reality (VR), augmented reality (AR), and building information modeling are expected to support the demand for construction software. These integrated technologies encourage safety & health in the construction industry, thereby helping the employees to meet social distancing requirements. Furthermore, as the trend of remote working is increasing, the architects and engineers may use the existing construction software for the further development of their construction models. The remote working trend among the employees has boosted the demand for cloud-based construction software during the pandemic lockdown period. Conversely, the demand for construction software is expected to decrease further from the 3Q 2020 to 3Q 2021 due to the after-effects of the pandemic.
pandemic


During the pandemic, the construction software companies have witnessed a high requirement for customer support and many companies are providing it at low or no additional cost. For instance, Procore Technologies, Inc. is providing free access to its Procore platform and related support services for emergency construction projects, which is expected to support the construction of COVID-19 relief facilities. Autodesk is offering free and extended access to its cloud products during the COVID-19 pandemic.

Construction Software Market - Summary


The global construction software market is deemed to grow at a moderate CAGR of 8.8% during the forecast period (2017-2023), as per the reports of Market Research Future (MRFR). It is expected to cross USD 2715.6 million in valuation till 2023. The feature setting construction software apart is integration. It provides a platform where subcontractors and designers can come together, plan and design in tandem with an accurate 3D visual representation to validate costs and manage risks. By disseminating precise information faster, the software makes the routine maintenance easier and increases the efficiency of asset and facility management.


Real estate sector has dented the revenue chart of the IT companies with a slow growth rate in developed countries. Bearing the brunt, IT giants such as Oracle Corporation and Trimble Inc. started looking for opportunities across other spectrums. The solution came in shape of revamped strategies, and the companies made decisions to expand their portfolios to the incipient economies of Asia Pacific and the Middle East & Africa by making mergers and acquisitions. This is exemplified by the acquisition of Aconex and Viewpoint by Oracle Corporation and Trimble respectively in 2018. These acquisitions assisted these companies in expanding their businesses in previously uncharted territories.


The market has gone through a sea change after the introduction of cloud-based technology that has emerged as a trendsetter across industry verticals. The technology itself is expected to cross USD 270 billion mark by 2020 and has revolutionized sectors by lowering the operational costs and increasing flexibility. Customized packages with the integration of application programming interface (API) for the client is also a feature that takes the technology years ahead of traditional methods. In addition, this offers a one-point solution and has become the choicest platform for contractors. As the MRFR report states, 87% of the contractors are now ready to leap forward by integrating cloud-based software to their system. 


Segmentation:


The construction software market can be segmented by product, application, and region.


By product, the market has been further segmented into cloud-based, web-based and on-premise based. Among these, on-premise based generated the maximum market revenue and expected to continue during the forecast period. However, various developers’ initiative to implement cloud-based technologies can boost its profits further.


Application-wise segmentation includes general contractors, building owners, independent construction managers, and sub-contractors. General contractors account for the largest market share in 2017, whereas independent construction managers segment are expected to capture a significant share of the market during the forecast period.


Regional Analysis:


Geographically, the construction software market has been segmented into North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).


North America, currently leads the market and is expected to remain so in the foreseeable future. The region is experiencing a boom due to various developed industrial sectors and their tendency to adopt the latest technologies. The robust infrastructure of cloud-based technology is also a dominant factor in fueling the market growth further. The North America market can experience a CAGR of 10% during the assessment period.


In Europe, government initiatives to assimilate and implement construction software in the architecture, engineering, and construction (AEC) industry have impacted the market considerably. The U.K. government has set up an extraordinary example by integrating level two construction software for public projects with an aim to universalize them.   


The APAC region seems to be a bright spot for the market, with public infrastructural projects and increased investment in smart city projects expected to pave the way for rapid market development. The region is expected to chip in with the fastest CAGR during the forecast period. Government initiatives are also commendably influencing the market. In Singapore, the government is encouraging incorporation of construction software both in private and public sectors and has made the implementation mandatory for all building projects larger than 16,404.2 square feet.


Market Dashboard:


Some of the key market players are Oracle Corporation, Sage Group PLC, Constellation Software Inc., Trimble Inc., Comprotex Software Inc., and Builder TREND.

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.3 List Of Assumptions

2.4 Market Structure

3 Market Insights

4 Research Methodology

4.1 Research Process

4.2 Primary Research

4.3 Secondary Research

4.4 Market Size Estimation

4.5 Forecast Model

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.2.1 Government Norms

5.2.2 Increase In Productivity And Efficiency

5.2.3 Improved Quality And Integration

5.2.4 Drivers Impact Analysis

5.3 Opportunities

5.3.1 Increasing Popularity Of Cloud-Based Construction Management Software

5.3.2 Rising Investments In The Construction Sector

5.4 Challenges

5.4.1 High Initial Cost Of Hardware And Software

5.4.2 Lack Of Skilled Professionals

6 Market Factor Analysis

6.1 Porter’s Five Forces Model

6.1.1 Threat Of New Entrants

6.1.2 Bargaining Power Of Suppliers

6.1.3 Bargaining Power Of Buyers

6.1.4 Threat Of Substitutes

6.1.5 Intensity Of Rivalry

7 Global Construction Software Market, By Product

7.1 Overview

7.1.1 Cloud-Based

7.1.2 On-Premise Based

7.1.3 Web Based

8 Global Construction Software Market, By Application

8.1 Overview

8.1.1 General Contractors

8.1.2 Building Owners

8.1.3 Independent Construction Managers

8.1.4 Sub-Contractors

9 Global Construction Software Market, By Region

9.1 Introduction

9.2 North America

9.2.1 U.S.

9.2.2 Canada

9.2.3 Mexico

9.3 Europe

9.3.1 Germany

9.3.2 U.K

9.3.3 France

9.3.4 Italy

9.3.5 Rest Of Europe

9.4 Asia-Pacific

9.4.1 China

9.4.2 Japan

9.4.3 South Korea

9.4.4 India

9.4.5 Rest Of Asia-Pacific

9.5 Rest Of The World

9.5.1 The Middle East & Africa

9.5.2 South America

10 Competitive Landscape

10.1 Competitive Landscape

11 Company Profiles

11.1 Sage Group Plc.

11.1.1 Company Overview

11.1.2 Financial Overview

11.1.3 Product/Solution Offerings

11.1.4 Key Developments

11.1.5 SWOT Analysis

11.1.6 Key Strategies

11.2 Oracle Corporation

11.2.1 Company Overview

11.2.2 Financial Overview

11.2.3 Product/Solution Offerings

11.2.4 Key Developments

11.2.5 SWOT Analysis

11.2.6 Key Strategies

11.3 Trimble Inc.

11.3.1 Company Overview

11.3.2 Financial Overview

11.3.3 Product/Solution Offerings

11.3.4 Key Developments

11.3.5 SWOT Analysis

11.3.6 Key Strategies

11.4 Constellation Software Inc.

11.4.1 Company Overview

11.4.2 Financial Overview

11.4.3 Product/Solution Offerings

11.4.4 Key Developments

11.4.5 Key Strategies

11.5 Comprotex Software Inc.

11.5.1 Company Overview

11.5.2 Product/Solution Offerings

11.6 BuilderTREND

11.6.1 Company Overview

11.6.2 Product/Solution Offerings

11.7 BuilderMT

11.7.1 Company Overview

11.7.2 Product/Solution Offerings

11.7.3 Key Developments

11.8 ISqFt (ConstructConnect)

11.8.1 Company Overview

11.8.2 Products

11.8.3 Key Developments

11.9 Procore Technologies Inc.,

11.9.1 Company Overview

11.9.2 Products

11.9.3 Key Developments

11.10 Turtle Creek Software

11.10.1 Company Overview

11.10.2 Products

12 List Of Tables

TABLE 1 MARKET SYNOPSIS

TABLE 2 LIST OF ASSUMPTIONS

TABLE 3 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 4 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2016–2027 (USD MILLION)

TABLE 5 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY REGION, 2020-2027 (USD MILLION)

TABLE 6 NORTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY COUNTRY, 2020-2027 (USD MILLION)

TABLE 7 NORTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 8 NORTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 9 U.S.: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 10 U.S.: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 11 CANADA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 12 CANADA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 13 MEXICO: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 14 MEXICO: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 15 EUROPE CONSTRUCTION SOFTWARE MARKET, BY REGION, 2020-2027 (USD MILLION)

TABLE 16 EUROPE CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 17 EUROPE CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 18 GERMANY: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 19 GERMANY: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 20 U.K : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 21 U.K: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 22 FRANCE : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 23 FRANCE: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 24 ITALY : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 25 ITALY: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 26 REST OF EUROPE : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 27 REST OF EUROPE: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 28 ASIA-PACIFIC CONSTRUCTION SOFTWARE MARKET, BY REGION, 2020-2027 (USD MILLION)

TABLE 29 ASIA-PACIFIC CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 30 ASIA-PACIFIC CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 31 CHINA : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 32 CHINA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 33 JAPAN : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 34 JAPAN: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 35 SOUTH KOREA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 36 SOUTH KOREA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 37 INDIA : CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 38 INDIA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 39 REST OF ASIA-PACIFIC: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 40 REST OF ASIA-PACIFIC: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 41 REST OF THE WORLD CONSTRUCTION SOFTWARE MARKET, BY REGION, 2020-2027 (USD MILLION)

TABLE 42 REST OF THE WORLD: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 43 REST OF THE WORLD: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 44 THE MIDDLE EAST & AFRICA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 45 THE MIDDLE EAST & AFRICA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

TABLE 46 SOUTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 47 SOUTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

13 List Of Figures

FIGURE 1 GLOBAL CONSTRUCTION SOFTWARE MARKET: MARKET STRUCTURE

FIGURE 2 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2020 VS 2027)

FIGURE 3 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2020 VS 2027)

FIGURE 4 ASIA-PACIFIC & MARKET SHARE BY COUNTRY (2020 VS 2027)

FIGURE 5 REST OF THE WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2020 VS 2027)

FIGURE 6 RESEARCH PROCESS OF MRFR

FIGURE 7 TOP DOWN & BOTTOM UP APPROACH

FIGURE 8 DOC ANALYSIS OF GLOBAL CONSTRUCTION SOFTWARE MARKET

FIGURE 9 DRIVERS IMPACT ANALYSIS: CONSTRUCTION SOFTWARE MARKET

FIGURE 11 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020 TO 2027 (USD MILLION)

FIGURE 12 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020 TO 2027 (USD MILLION)

FIGURE 13 GLOBAL CONSTRUCTION SOFTWARE MARKET, BY REGION, 2020 TO 2027 (USD MILLION)

FIGURE 14 NORTH AMERICA: CONSTRUCTION SOFTWARE MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 15 NORTH AMERICA: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020 TO 2027 (USD MILLION)

FIGURE 16 NORTH AMERICA CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020 TO 2027 (USD MILLION)

FIGURE 17 EUROPE: CONSTRUCTION SOFTWARE MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 18 EUROPE CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020TO 2027 (USD MILLION)

FIGURE 19 EUROPE CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020TO 2027 (USD MILLION)

FIGURE 20 ASIA-PACIFIC: CONSTRUCTION SOFTWARE MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 21 ASIA-PACIFIC CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2016 TO 2027 (USD MILLION)

FIGURE 22 ASIA-PACIFIC CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020TO 2027 (USD MILLION)

FIGURE 23 REST OF THE WORLD: CONSTRUCTION SOFTWARE MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 24 REST OF THE WORLD: CONSTRUCTION SOFTWARE MARKET, BY PRODUCT, 2020 TO 2027 (USD MILLION)

FIGURE 25 REST OF THE WORLD: CONSTRUCTION SOFTWARE MARKET, BY APPLICATION, 2020 TO 2027 (USD MILLION)

FIGURE 26 BENCHMARKING OF MAJOR COMPETITORS

Global Construction Software Market: Competitive Landscape

Sage Group PLC, Oracle Corporation, Trimble Inc., Constellation Software Inc., Comprotex Software Inc., Builder TREND, BuilderMT, iSqFt, Procore Technologies, Turtle Creek Software Inc. are some of the key players of the global construction software market in 2017. These companies continue to retain their strong global presence through expansion, merger & acquisition, and extensive product portfolio. Oracle Corporation, Trimble Inc., Sage group, Constellation Software Inc. are some of the major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the development of sophisticated construction software. Although the international players are dominating the market, regional and foreign players with small market shares also have a considerable presence in the market. The international players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecasted that improvement of the global economic scenario combined with efforts to enhance infrastructure in emerging nations, is fuelling the market growth, thereby making it an ideal time to launch new construction software solutions and increase the global market share.

In 2017, Oracle Corporation was the leading player in the market. The company pursued a strategy to continue their investments and innovation with respect to their products and services through their cloud and on-premise software, hardware and services businesses. It also relies on acquisitions that enhance their products and services to customers in order to expand the customer base and provide greater scale to accelerate innovation. In recent years, the company has invested billions of dollars to acquire a number of companies, products, services and technologies that has increased their geographical presence and improved their customer base and increases their revenue.

SAGE Group. held the second position in terms of market share, in 2017. Sage Group is a well-established multinational company. They offers business management software and services for small and medium enterprises. The product portfolio consists of accounting and payroll, ERP (Enterprise Resource Planning), payments, and CRM (Customer Relationship Management). In the area of construction, the company offers various solutions such as Sage300, Sage 100 and Sage estimating for managing entire project lifecycle with precision and efficiency. Till now, more than 50,000 construction and real estate companies have deployed Sage software. In addition, the company offers customizable solutions such as risk management, business visibility, real-estate management, service management and many others. The company majorly operates in Northern Europe, Central and Southern Europe, North America, and internationally.

Trimble Inc. acquired the third spot in the market. Trimble, Inc. offers positioning, wireless and software technology solutions. The company operates through various business divisions which include Geospatial, Resources & Utilities, Buildings & Infrastructure, and Transportation. The company focuses on R&D to introduce new products and make improvements in existing products. Due to the strong focus on R&D, the company has launched and commercialize a number of new products in the recent past. In addition, the company's strong R&D has enabled it to add a number of important patents. At the end of FY2016, the company had approximately 1,200 unique issued and enforceable patents, the majority of which cover GNSS based technologies and other applications such as optical and laser technology. In April 2018, Trimble acquired Viewpoint, a provider of innovative construction-specific software solutions.
Other prominent players in construction software market include private listed companies namely Constellation Software Inc., Comprotex Software Inc., Builder TREND, BuilderMT, iSqFt, Procore Technologies, Turtle Creek Software.