Global Construction and Design Software Market
Global Construction and Design Software Market Size Expands at Impressive CAGR of 9.3% to Touch USD 16.1 Billion by 2029
Published | 25 May 2023
The global construction and design software market is flourishing because of an increasing number of infrastructure development projects and high adoption of cloud-based solutions.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global construction and design software market size at USD 9.45 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global construction and design software market size to grow at a significant CAGR of 9.3% reaching a value of USD 16.1 billion by 2029. Major growth drivers for global construction and design software market include increasing investments in infrastructure development projects, rising preference for cloud-based software solutions, and a surging demand for mobile and web-based applications. The market is also influenced by various trends, such as the use of advanced technologies like AI and machine learning (ML), the rise of virtual and augmented reality tools, and the adoption of BIM for construction projects. The need for sophisticated tools and technologies to optimize construction and design processes, increase project efficiency and productivity, and lower costs and risks is expected to propel the expansion of the global construction and design software market during the forecast period. However, high costs are anticipated to restrain the growth of the global construction and design software market.
Global Construction and Design Software Market – Overview
The construction and design software market refers to the industry that provides software solutions and services for various segments of the construction and design industry, including architectural design, engineering, project management, building information modeling (BIM), and construction estimation. The software solutions and services offered in this market aim to streamline construction and design processes, improve project efficiency and productivity, and reduce costs and risks. The market includes a wide range of software solutions such as 3D modeling software, project management software, CAD software, BIM software, and simulation software, among others. The construction and design software market is driven by increasing investments in infrastructure development projects, rising adoption of cloud-based software solutions, and a growing demand for mobile and web-based applications. The market is constantly evolving with new technological advancements and innovations, which is driving the demand for software solutions that cater to the changing needs of the construction and design industry.
Impact of COVID-19 on Global Construction and Design Software Market
COVID-19 pandemic had a positive impact on the global construction and design software market. The pandemic accelerated the adoption of software solutions as companies have had to adapt to remote work and new safety protocols. One of the key impacts of COVID-19 has been the shift to remote work. With many construction and design professionals working from home, there has been an increased demand for cloud-based software solutions that enable remote collaboration and access to data and applications. This has driven the adoption of cloud-based solutions in the construction and design software market. Also, the pandemic also led to new safety protocols and social distancing requirements on job sites, which increased the demand for software solutions that can help manage and track these protocols.
Global Construction and Design Software Market – By Deployment Mode
Based on deployment mode, the global construction and design software market is bifurcated into Cloud and On-Premises segments. The cloud segment held a higher market share. Cloud-based solutions allow for the outsourcing of IT tasks, resulting in better work efficiency. Project managers can synchronize and connect with multiple teams to obtain real-time information from project sites, making it the most preferred method for deploying construction and design software. This dominance is expected to persist throughout the forecast period, with several large enterprises, such as Oracle Corporation and Sage Group, offering construction and design software via the cloud. The cloud deployment mode increases system performance and cost-efficiency, while using data to streamline processes, thereby promoting productivity. These benefits will drive segment growth. Meanwhile, the on-premises segment is expected to grow during the forecast period due to increasing complexity in real-time collaboration among project stakeholders, large upfront capital investments, and higher storage requirements. The on-premises deployment mode provides data security for construction projects and offers organizations functionalities, such as construction estimation, project management, scheduling, and task automation through a single dashboard, all of which will contribute to the segment's growth during the forecast period.
Major players operating in the global construction and design software market include Autodesk Inc., Oracle Corporation, Microsoft Corporation, Trimble Inc., Constellation Software Inc., SAP SE, Vectorworks, Inc., Sage Group plc, BENTLEY SYSTEMS, RIB Software SE, Aconex, Hexagon AB, and Asite. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Construction and Design Software Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Construction and Design Software Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Construction and Design Software Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Function (Safety & Reporting, Project Management & Scheduling, Project Design, Field Service Management, Cost Accounting, Construction Estimation, On-across Bid Management); By Deployment Mode (Cloud, On-Premises); By End Use (Architects & Builders, Remodelers, Designers); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: May 2023
Growing adoption of cloud-based solutions and increasing number of infrastructure development markets are projected to propel the expansion of the global construction and design software market during the forecast period between 2023 and 2029.
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