Home Press Releases Construction Estimating Software Market Size Worth $2,612.23 Million By 2030 | CAGR: 8.2%

Construction Estimating Software Market Size Worth $2,612.23 Million By 2030 | CAGR: 8.2%

The global construction estimating software market size is expected to reach USD 2,612.23 Million by 2030, according to a new study by Polaris Market Research. The report “Construction Estimating Software Market Share, Size, Trends, Industry Analysis Report, By Deployment (Cloud and On-premises); By Software; By Enterprise Size; By End-Use; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The increasing digitalization of various construction-related operations such as construction designing, fleet management, and cost estimation along with growing internet penetration across the world are major key factors favoring the market.

 

Moreover, the rising adoption of several types of business developing strategies by key market players to increase their net sales and enhance their projects and operations are likely to impact the market growth.

 

For instance, in March 2022, Cost Certified, a leading provider of construction estimating software, announced that it has partnered with Cedro, a SaaS provider for 3D home design. The partnership has been done to develop a single platform integrated with advanced designing and estimation tools for various types of residential projects.

 

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Moreover, construction estimating software helps commercial construction firms streamline their workflows and maximize their productivity through the digitalization of their preconstruction process, which leads to accurate estimates and enhanced construction bidding coupled with the improved viability of work processes and precise assessment are likely to have a positive impact on the growth.

 

The outbreak of the COVID-19 pandemic has significantly impacted the growth of the construction estimating software market. The emergence of the deadly coronavirus has enabled various challenges such as low productivity, low R&D investment, and affected margins. To get control over the COVID pandemic governments of various countries have imposed lockdowns and stringent regulations on the supply chain. These factors impacted the adoption and growth of the market negatively during the period.

 

Construction Estimating Software Market Report Highlights

  • Cloud deployment segment accounted for a significant market share, in 2021, due to the growing adoption of cloud computing as a result of increasing preference for cloud deployment around the world
  • Subscription license segment held the highest market revenue share in 2021 which is mainly accelerated by increasing penetration for the subscription-based business models and high consumer retention emphasis
  • Large enterprises segment dominated the global market with a holding of healthy percentage on account of the high adoption of advanced and innovative software for efficient tracking of costs
  • Architecture & builders segment lead the market in 2021 and is likely to grow considerably during the forecast period owing to the integration of virtual reality and augmented reality technologies
  • Asia Pacific region is projected to grow at the fastest rate of CAGR over the anticipated period due to an extensive rise in the number of government favorable initiatives and heavy investment in the development of infrastructure
  • The global construction estimating software market is fairly fragmented with the presence of many large market companies such as Corecon Technologies Inc., PrioSoft Construction Software, and Glodon Company Ltd.

 

Polaris Market Research has segmented the construction estimating software market report based on deployment, software license, enterprise size, end-use, and region:

 

Construction Estimating Software, Deployment Outlook (Revenue – USD Million, 2018 – 2030)

  • Cloud
  • On-premises

Construction Estimating Software, Software License Outlook (Revenue – USD Million, 2018 – 2030)

  • Perpetual License
  • Subscription License
  • Others

Construction Estimating Software, Enterprise Size Outlook (Revenue – USD Million, 2018 – 2030)

  • SMEs
  • Large Enterprises

Construction Estimating Software, End-Use Outlook (Revenue – USD Million, 2018-2030)

  • Architecture & Builders
  • Construction Managers
  • Contractors
  • Others

Construction Estimating Software, Regional Outlook (Revenue – USD Million, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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