August 11, 2021 08:30 ET | Source: CMI CMI
SEATTLE, Aug. 11, 2021 (GLOBE NEWSWIRE) — Construction management software provides range of solutions that help the users to effectively manage construction projects, resources, and customers. Construction management software increases the efficiency and accountability of construction firms and businesses while streamlining previously manual processes, such as daily internal communications, job scheduling, punch listing, and QA/QC list creation. Moreover, the construction management software helps to monitor the cost-control system to achieve an estimated profit on projects and to monitor the predicted results.
The global construction management software market is estimated to account for 2.6 Bn in terms of value by the end of 2028
1. Increasing number of construction projects across the globe is expected to propel the global construction management software market growth over the forecast period
The increasing number of construction projects in countries such as the U.S., China and India is expected to drive the market growth. Moreover, the construction industry in India employs more than 40 million people and has a large pool of low-cost workers. Besides, various governmental flagship programs such as ‘Smart Cities’, ‘Housing for All’, ‘Make in India’, and ‘Atal Mission for Urban Rejuvenation and Transformation’ (AMRUT) are expected to drive growth of the market.
2. Rising need for management of the construction processes is expected to drive growth of the global construction management software market during the forecast period
The construction management software helps to monitor the cost-control system to achieve an estimated profit on projects and to monitor the predicted results. Construction project management software provides features to manage construction projects starting from its inception, by enabling features that monitor various stages of a project including procurement of design service and contractors, contract methods, and management of the construction contract process.
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1. Rising construction projects in Asia-Pacific can present lucrative growth opportunities in the global construction management software market
Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the increasing number of construction projects in China and India. With a huge number of ongoing construction project opportunities, India is the third-largest contributor of economic growth across the globe.
2. Growing adoption of construction management software by construction firms to increase efficiency and accountability can pose major business opportunities in the global market
Construction management software enhances the efficiency and accountability of construction firms and businesses by streamlining their manual processes. Additionally, it helps in job scheduling, time estimations, project management, job costing, cost control, punch listing, and assessing the construction risks. This increases the adoption of the software across the construction industry, which then boosts the growth of the construction management software market.
1. Rising popularity of cloud-based construction management software
Cloud-based construction management software is expected to gain significant traction in the global construction management software market. For instance, Jonas Construction Software Inc. offers cloud-based construction management software for general contractors, land developers, home builders, and specialty contractors.
2. Construction management software is expected to gain rapid traction in oil and gas sector
A notable rise in demand for construction management software is expected from the oil and gas sector. This is owing to the fact that the software helps to boost transparency in brownfield, onshore, and shale-based construction projects. The software also helps in monitoring the development in oil and gas plants as well as for monitoring deepwater oil and gas projects.
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Major companies involved in the global construction management software market are BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint, Inc., Oracle, BrickControl.com, BuildStar Technologies, Inc., Buildtools Inc, CATCloud., e-Builder Inc, eSUB Inc. Jonas Construction Software Inc, Systemates, Inc., Autodesk Inc., Buildertrend, CMiC., ConstructConnect, and Odoo S.A.
For instance, Oracle offers construction management software for various applications including schedule management, construction project and cost controls, design and construction coordination, construction document management, and construction payment management.
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