Construction And Design Software Market Growth & Trends
The global construction and design software marketsize is expected to reach USD 19.12 billion by 2030, growing at a CAGR of 8.5% from 2022 to 2030, according to a recent report by Grand View Research, Inc., The growing demand for effective tool management and development of digital capabilities such as the Internet of Things (IoT) and Building Information System (BIM) are the major drivers that are likely to create the need to adopt construction and design software across infrastructure and real estate industries. These digital capabilities help organizations automate, track, and manage budgets by managing construction projects and controlling costs across the operations. Thus, it allows organizations to increase profits and maximize efficiency by reducing risks and other issues. This is attributed to the rise in demand for construction and design software during the forecast period.
Construction And Design Software Market Segmentation
Grand View Research has segmented the global construction and design software market based on function, deployment, end-use, and region:
Based on the Function Insights, the market is segmented into Safety & Reporting, Project Management & Scheduling, Project Design, Field Service Management, Cost Accounting, Construction Estimation, On Across Bid Management, Others (Asset Management and Building System Analysis).
- The project management & scheduling segment accounted for the largest market share of 18.7% in 2021. The increasing demand to control and manage project activities such as allocating resources, reducing time delays, and tracking project progress is the major factor driving the demand for project management & scheduling globally.
- The field service segment is expected to grow at a CAGR of 9.0% during the forecast period. The segment growth can be attributed to the rising need for mobility with the Internet of Things (IoT), predictive analytics, and the growing adoption of cloud-based applications. Moreover, the real-time monitoring of the field service technicians helps in the timely dispatch of the nearest technician to resolve an issue. It helps streamline all processes associated with field operations.
Based on the Deployment Insights, the market is segmented into Cloud and On-premise.
- The cloud segment accounted for the largest market share of 51.6% in 2021. The cloud-based solution allows outsourcing of IT tasks for better work efficiency. It enables project managers to synchronize and connect with multiple teams to get real-time information across the project sites. It has become the most preferred way to deploy construction and design software and is predicted to maintain its dominance over the forecast period. Several large enterprises such as Oracle Corporation and Sage Group offer construction and design software over the cloud. It increases the system's performance and cost-efficiency and promotes productivity by using data to streamline processes. These benefits offered by cloud deployment will enhance the segment growth.
- The on-premise segment is expected to grow at a CAGR of 6.6% over the forecast period. The segment growth can be attributed to the increasing complexity of real-time collaboration among project stakeholders, large upfront capital investments, and higher storage requirements. Moreover, it provides data security associated with construction projects and offers organizations functionalities such as construction estimation, project management, scheduling, and automating tasks into a single dashboard. These will supplement the growth of the segment during the forecast period.
Based on the End-Use Insights, the market is segmented into Architects & Builders, Remodelers, Designers, Others (Consultants, Facility Managers, and Automatic Exposure Control (AEC) Professionals, among others).
- The architects & builders segment held a market share of 38.1% in 2021 and is expected to dominate the market by 2030. The segment growth can be attributed to the rising demand for design proficiency, to take advantage of the project prospective like scheduled building, development, and building parameter endorsement. Furthermore, the growing adoption of BIM by architects allows synchronization of design and construction planning, conflict detection, and visualization, which will help to plan, design, and manage building projects more effectively.
- The remodelers segment is expected to grow at a CAGR of 8.1% over the forecast period. The remodelers rely heavily on VR, BIM, 4D, and 5D simulations to replan projects and reoptimize schedules, expanding the market potential for construction and design software.
Construction And Design Software Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Markey Share Insights
- February 2022: Trimble Inc. introduced the Trimble Roadworks Paving Control Platform for asphalt compactors, to enable operators to accurately control the compaction process, and reduce unnecessary passes that can result in over compaction.
Key Companies Profile & Market Share Insights
Market players are observed to invest resources in research & development activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.
Some of the prominent players operating in the global construction and design software market include,
- Autodesk Inc.
- Oracle Corporation
- Trimble Inc.
- Constellation Software Inc.
- SAP SE
- Vectorworks, Inc.
- Sage Group plc
- BENTLEY SYSTEMS
- RIB Software SE
Order a free sample PDF of the Construction And Design Software Market Intelligence Study, published by Grand View Research.
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