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The Business Research Company’s Construction Estimating Software Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UNITED KINGDOM, September 30, 2024 /EINPresswire.com/ — The construction estimating software market has experienced robust growth in recent years, expanding from $1.35 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to shift to digital construction processes, cost overrun mitigation, government investments in infrastructure, global construction industry growth, labor and material cost fluctuations, demand for precision in bidding.
What Is The Estimated Market Size Of The Global Construction Estimating Software Market And Its Annual Growth Rate?
The construction estimating software market is projected to continue its strong growth, reaching $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rise in design-build contracts, government initiatives for smart cities, data security measures, mobile estimating applications, integration with project management software.
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Growth Driver of The Construction Estimating Software Market
The increasing construction activity is expected to propel the growth of the construction estimating software market going forward. Construction refers to the creation, rebuilding, deconstruction, maintenance, or restoration of buildings, structures, or other civil engineering or architectural work and involves site preparation, excavation, drilling, seismic study, product and material supply, and equipment and machinery supply. The increased construction activity boosts the expansion of the construction estimating software market as construction estimating software offers fast, illustrated, and precise results and data solutions to their clients and also provides cost savings, better planning, faster results, and customer satisfaction.
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Which Market Players Are Driving The Construction Estimating Software Market Growth?
Key players in the market include Autodesk Inc., Bluebeam Inc., Corecon Technologies Inc., Glodon Company Limited, Microsoft Corporation, RIB Software SE, Sage Group PLC, Trimble Inc., AppliCAD PCL, PrioSoft, Buildsoft Pty Ltd., Heavy Construction Systems Specialists Inc., PlanSwift Software LLC, Oracle Corporation, Advanced Electrical Technologies Inc., QuoteSoft Inc., ProEst, Procore Technologies, STACK Construction Technologies, AccuLynx, HCSS, Clear Estimates, RSMeans data, Sigma Estimates, B2W Software, InEight, RedTeam Software, CostX, Esticom, Estimator360 Inc., WinEstimator Inc., Foundation Software, FastEST Inc., eTakeoff LLC, McCormick Systems, ConstructConnect, On Center Software, UDA Technologies, BidScreen XL, Causeway Technologies.
What Are The Key Trends That Influence Construction Estimating Software Market Share Analysis?
Major companies operating in the market are focused on introducing advanced tools, such as AI-based estimating software, to gain a competitive edge in the market. AI-based construction estimating software leverages artificial intelligence (AI) and machine learning technologies to automate the cost estimation process, increasing the accuracy and speed of a project’s overall estimation process.
How Is The Global Construction Estimating Software Market Segmented?
1) By Product: Construction Accounting, Construction Management, Construction Suites, Project Management
2) By Software License: Perpetual License, Subscription License, Other Software Licenses
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-Use: Architects And Builders, Construction Managers, Contractors, Other End-Users
Geographical Insights: North America Leading The Construction Estimating Software Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Construction Estimating Software Market Definition
Construction estimating software is a computer application that saves and transmits data and information relevant to the process of estimating building expenses. Construction estimating software is designed to make the work of construction estimators easier and their work more efficient which can range from simple spreadsheets to highly integrated estimating software.
Construction Estimating Software Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global construction estimating software market report covering trends, opportunities, strategies, and more
The Construction Estimating Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on construction estimating software market size, construction estimating software market drivers and trends, construction estimating software market major players and construction estimating software market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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