According to a new report, published by KBV research, The Global Construction Management Software Market size is expected to reach $16.6 billion by 2028, rising at a market growth of 9.8% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 12.3% during (2022 - 2028). This is because modern-day construction is complicated and requires a high degree of coordination between the parties involved. Construction management software serves an oversight and coordination role, guiding the project from idea to completion. Through a mixture of high-level orchestration and direct guidance, construction management software comes alive while reducing the associated risk with the construction project itself. These features of the construction management services are anticipated to propel the segment's growth.
The Architects & Designers segment acquired maximum revenue share in the Global Construction Management Software Market by End User in 2021 thereby, achieving a market value of $8.3 billion by 2028. The growth is attributed to the increasing demand for design proficiency to take advantage of the project perspective, like development, building parameter endorsement, and scheduled building. Architects & designers give designs customized according to the client’s finances and help them decrease expenditure by imparting complete information about the construction.
The Cloud segment has shown the growth rate of 11.4% during (2022 - 2028). This is because cloud deployment has been the most famous way to deploy construction-based software. The cloud-based software enables project managers to connect and synchronize with numerous teams to get live information across the project sites. Major growth in the construction industry is anticipated to expand the data usage capabilities and cloud technologies to manage businesses and promote productivity efficiently. The popularity of the cloud and the benefits it offers to an organization is expected to surge the segment’s growth.
The Residential Building segment is leading the Global Construction Management Software Market by Building Type in 2021 thereby, achieving a market value of $10.8 billion by 2028. The growth is due to the rising digitalization of small-scale construction firms and independent contractors in the construction sector. An increase in the urban population is resulting in the increasing residential industry. Also, there is a high number of people migrating to urban centers, increasing the demand for the residential sector. The constant rise of the residential construction sector, combined with the digitalization of construction firms, will grow the segment.
The Field Service Management segment is poised to grow at a CAGR of 11% during (2022 - 2028). The growth is the result of the rising need for mobility with the Internet of Things (IoT), predictive analysis, and the increasing adoption of cloud-based applications. The real-time monitoring of the field service technicians aids in the timely dispatch of the closest technician to resolve any issue. Hence, the higher adoption of construction-based software for field service management will increase the segment’s expansion.
The North America market dominated the Global Construction Management Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.5 billion by 2028. The Europe market is exhibiting a CAGR of 9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 11.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/construction-management-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Oracle Corporation, SAP SE, Autodesk, Inc., Bentley Systems, Inc., Trimble, Inc., Constructconnect, Inc. (Roper Technologies, Inc.), Jonas Construction Software, Inc. (Constellation Software Inc.), Buildertrend, Computer Methods International Corp., and Odoo SA.
By Component
By End User
By Deployment Mode
By Building Type
By Application
By Geography
Companies Profiled
Unique Offerings 
