Construction Management Software: Introduction
- Construction management software is used to develop, create, manage, and execute an effective construction management plan. It provides end-users with effective construction planning, which defines the project goals, scope, and budget.
- Construction management software is also used as a project optimization tool that provides various features such as materials management, quality management, progress management, document management, payment management, and manpower management of large and complex plant construction
- Construction management software also optimizes the construction project cost. It is useful for home builders, remodelers, specialty contractors, and general contractors.
- The global construction management software market is projected to expand at a rapid pace during the forecast period, due to increase in demand for construction management software among end-users.
Global Construction Management Software Market: Dynamics
Global Construction Management Software Market: Key Drivers and Restraints
- Rise in need to analyze project requirements and understand the internal or external factors of construction projects is expected to boost the construction management software market in the next few years
- Increase in demand to enhance the productivity of a construction project by improving communication between employees and reducing the response time is also anticipated to boost the construction management software market during the forecast period
- Rise in adoption of cloud-based construction management software is estimated to propel the market during the forecast period
- Increase in government initiatives for development of smart infrastructure and smart homes across the globe is likely to propel the construction management software market during the forecast period.
- Increasing demand for construction management software tools which can view the risk levels associated with numerous tasks and processes of operations management is anticipated to propel the construction management software market in the next few years.
- However, interoperability issues and lack of technical expertise is projected to hinder the construction management software market during the forecast period. Additionally, lack of awareness about the benefits of construction management software is anticipated to hamper the market.
Impact of COVID-19 on the Global Construction Management Software Market
- The COVID-19 pandemic has significantly impacted the global construction management software business. The pandemic has adversely affected the sales of construction management software. Restriction on travel and limitation in supply chain of raw materials have also negatively impacted the construction sector.
- Construction management software solution providers are launching new products with advanced functions to cope up with social distancing and guidelines on avoidance of physical contact during the COVID-19 pandemic. This is boosting the demand for construction management software.
North America to Hold Major Share of Global Construction Management Software Market
- In terms of region, the global construction management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global construction management software market in 2020, due to the presence of a large number of construction management software companies and high adoption of software in the region. The U.S. is the key country of the market in the region owing to extensive adoption of construction management software in the country during the COVID-19 pandemic.
- The construction management software market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be ascribed to the growth in industrialization and digitization in China, Japan, and India. Increase in government initiatives to opt for smart infrastructure is expected to create lucrative opportunities for the construction management software market.
Global Construction Management Software Market: Competition Landscape
Several local, regional, and international players are active in the construction management software market with strong presence. Rapid technological advancements have led to creation of opportunities in the market. Vendors of construction management software are focusing on inorganic growth strategies such as strategic collaborations and merger and acquisition with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.
Key Players Operating in Global Construction Management Software Market Include:
- Autodesk Inc.
- Bentley Systems Inc.
- Buildertrend Solutions, Inc.
- Computer Methods International Corporation
- ConstructConnect Inc.
- Odoo SA
- Oracle Corporation
- Procore Technologies Inc.
- Sage Group Plc
- Trimble Inc.
Global Construction Management Software Market: Research Scope
Global Construction Management Software Market, by Component
Global Construction Management Software Market, by Deployment
Global Construction Management Software Market, by End-user
- Construction Managers
- Builders & Contractors
- Engineers & Architects
Global Construction Management Software Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.