The Latest Construction Management Software Industry Statistics Explained
There is expected to be a 10.2% growth in the construction project management software market from 2021 to 2028.
The statistic indicates that there is projected to be a significant growth of 10.2% in the construction project management software market between the years 2021 and 2028. This growth suggests an increasing demand for construction project management software solutions within the industry. This trend might be driven by several factors such as the need for better project efficiency, cost-effectiveness, and the utilization of technology to streamline processes. Companies in the construction sector are likely to invest more in software tools to enhance project management capabilities and stay competitive in the market. Overall, this statistic highlights a promising growth opportunity for software providers and a positive outlook for the construction project management software market in the coming years.
Procore, Bluebeam, Autodesk and Trimble are the leaders in the construction software market.
The statistic suggests that Procore, Bluebeam, Autodesk, and Trimble are positioned as the top competitors in the construction software market, indicating that these companies have established a significant market share and are considered leaders within the industry. This conclusion may have been drawn based on factors such as revenue, customer base, innovation, product offerings, and overall brand recognition. Being at the forefront of the construction software market implies that these companies are likely to have a competitive edge in terms of technology, features, and customer satisfaction, setting them apart from other players in the industry.
As of 2020, approximately 73% of construction professionals now use mobile or cloud-based apps to manage their projects.
The statistic indicates that in 2020, a significant proportion of construction professionals, around 73%, have adopted mobile or cloud-based applications to assist in managing their projects. This suggests a trend towards technological advancement and digitalization within the industry, as these tools offer enhanced efficiency, accessibility, and collaboration opportunities. The adoption of such apps can lead to streamlined project management processes, improved communication among team members, real-time tracking of progress, and overall increased productivity. This statistic highlights the growing importance of technology in the construction sector and its potential to revolutionize project management practices.
Nearly 59% of construction companies investing in technology improved their project schedule performance.
The statistic ‘Nearly 59% of construction companies investing in technology improved their project schedule performance’ indicates that a significant majority of construction companies that have invested in technology have seen an improvement in their project schedule performance. This suggests that technology adoption in the construction industry can have a positive impact on project management processes, potentially helping companies to streamline operations, increase efficiency, and meet project deadlines more effectively. The statistic highlights the potential benefits of incorporating technology into construction practices and underscores the importance of leveraging technological tools to enhance project performance in the industry.
Approximately 65% of construction companies want to invest in workforce management software in the wild.
The statistic that approximately 65% of construction companies want to invest in workforce management software indicates a strong interest within the construction industry for adopting technology solutions to enhance operational efficiency. This finding suggests that a majority of construction companies recognize the benefits of workforce management software in improving scheduling, resource allocation, and overall workforce productivity. By investing in such software, these companies are likely aiming to streamline their operations, reduce administrative burdens, and ultimately drive better project outcomes. This statistic highlights a significant trend towards digital transformation in the construction sector, with a majority of companies recognizing the value of technology in optimizing their workforce management processes.
The construction management software market is expected to hit USD 2.71 billion by 2027.
The statistic that the construction management software market is projected to reach USD 2.71 billion by 2027 indicates the anticipated total revenue generated by this sector within the specified timeframe. This estimate suggests a positive growth trajectory for the construction management software market, driven by factors such as technological advancements, increasing adoption of digital solutions in the construction industry, and the need for more efficient project management practices. The forecasted market size highlights the significant opportunities for software providers and industry players operating within the construction management software space, emphasizing the importance of innovation and competitiveness in capturing a share of this growing market.
The global construction project management software usage in general contracting was 37%, followed by heavy/civil 29%, and specialty contracting 12% in 2020.
This statistic presents the distribution of construction project management software usage across different sectors in 2020. It indicates that general contracting had the highest adoption rate at 37%, followed by heavy/civil contracting at 29%, and specialty contracting at 12%. This suggests that general contracting firms were the most likely to have integrated project management software into their operations, potentially indicating a greater focus on efficiency and organization within these firms compared to heavy/civil and specialty contractors. The varying usage rates across sectors could reflect differences in the size of projects, the complexity of operations, or the overall technological maturity of the firms within each sector.
54% of builders expect to implement construction management software for remote operations after the covid-19 pandemic.
The statistic ‘54% of builders expect to implement construction management software for remote operations after the covid-19 pandemic’ indicates that a majority of builders in the construction industry are anticipating a shift towards adopting technology to support remote working practices following the Covid-19 pandemic. This suggests a recognition of the benefits of incorporating construction management software to facilitate smoother operations, enhance communication, and improve project efficiency in the post-pandemic era. The statistic highlights a potential trend towards digital transformation within the construction sector as a response to the challenges posed by the pandemic, emphasizing the importance of adapting to evolving work environments and embracing technological solutions for long-term sustainability and competitiveness.
The cloud-based construction management software segment is estimated to register a CAGR (Compound Annual Growth Rate) of 8.5%, and on-premise software is set to register a CAGR of 6% between 2020 and 2027.
The statistic highlights the forecasted growth rates of two different segments within the construction management software industry between 2020 and 2027. The cloud-based construction management software segment is expected to experience a Compound Annual Growth Rate (CAGR) of 8.5%, indicating a relatively faster rate of expansion compared to the on-premise software segment, which is projected to register a CAGR of 6% over the same period. This suggests a greater adoption and acceptance of cloud-based solutions within the construction industry, driven by factors such as scalability, cost-efficiency, remote access, and enhanced collaboration capabilities. Meanwhile, the on-premise software segment is likely to see more moderate growth, reflecting a slower transition away from traditional software deployment models within the sector.
North America captured the largest market share of 38.4% in 2019 due to a surge in demand for cloud-based solutions.
The statistic indicating that North America captured the largest market share of 38.4% in 2019 due to a surge in demand for cloud-based solutions suggests that the region experienced significant growth and dominance in the market for such technologies. The surge in demand for cloud-based solutions likely led to greater adoption rates among businesses and consumers in North America, driving up the market share for the region. This statistic highlights the strong influence of technological advancements and shifting consumer preferences on market trends, positioning North America as a key player in the global market for cloud-based solutions in 2019.
Asia Pacific region is expected to grow at the highest CAGR of 9.2% from 2020 to 2027.
This statistic indicates that the Asia Pacific region is projected to experience the highest Compound Annual Growth Rate (CAGR) of 9.2% between the years 2020 and 2027. This suggests that the economies within the Asia Pacific region are expected to grow at a faster pace compared to other regions during this time period. The high growth rate could be the result of various factors such as increasing investments, technological advancements, favorable government policies, and growing consumer demand within the region. Businesses and investors may find this information valuable when making decisions related to market expansion, investment opportunities, and resource allocation in the Asia Pacific region.
About 62% of the surveyed construction companies said their profits improved after adopting project management software.
The statistic indicates that a majority, specifically 62%, of construction companies that were surveyed experienced improved profits after implementing project management software. This suggests that utilizing such software has been beneficial for a significant portion of construction businesses in terms of enhancing their financial performance. The finding implies a positive association between the adoption of project management software and an increase in profits within the construction industry, highlighting the potential advantages of incorporating technological tools for project organization and efficiency in this sector.
In 2019, the construction software market topped $10.6 billion a 12% increase over 2018.
The statistic indicates that in 2019, the market for construction software reached a value of $10.6 billion, which represents a significant 12% increase compared to the previous year. This suggests a thriving and growing market for software solutions tailored to the construction industry. The increase in market value signifies an increasing demand for construction software, likely driven by technological advancements, industry trends, and the need for efficiency and productivity in construction projects. The growth rate of 12% highlights a strong market performance and signals opportunities for software developers and companies to innovate and capitalize on the expanding market for construction software.
On average, businesses in the construction industry that use software experience a 20% reduction in project costs.
This statistic indicates that businesses in the construction industry that utilize software tools experience, on average, a 20% reduction in project costs compared to those that do not use such tools. This suggests that the implementation of software systems can lead to more efficient project management, coordination, and resource allocation, resulting in cost savings for construction companies. By harnessing the capabilities of software in tasks such as project planning, documentation, scheduling, and communication, these businesses are able to streamline their operations and enhance productivity, ultimately leading to lower overall project costs. This statistic highlights the significant impact that technology adoption can have on the financial performance of construction firms.
The takeoff software market, a vital component of construction management, was valued at USD 260.12 million in 2020.
The statistic indicates that the takeoff software market, which plays a crucial role in construction management by facilitating the estimation and quantification of materials needed for a project, had a market value of USD 260.12 million in the year 2020. This figure suggests that there is a significant demand for takeoff software within the construction industry, highlighting its importance in streamlining project planning and cost estimation processes. The market value also reflects the continued growth and adoption of technology-based solutions in the construction sector to improve efficiency and accuracy in project management tasks.
Approximately 90% of global infrastructure projects are either late or over-budget, which underlines the critical importance of construction management software.
The statistic that approximately 90% of global infrastructure projects are either late or over-budget highlights a concerning issue within the construction industry, signifying the prevalent challenges faced in project delivery. This further emphasizes the essential role that construction management software plays in enhancing project efficiency and success. By utilizing such software solutions, construction professionals can streamline project planning, monitoring, and execution processes to mitigate delays and cost overruns. The statistic underscores the urgent need for implementing modern technologies like construction management software to effectively manage infrastructure projects and drive improvements in project delivery performance globally.
By 2027, the estimated value of construction software utilized in industrial and infrastructure construction is predicted to reach USD 1.7 billion.
The statistic reveals a projected growth in the utilization of construction software in industrial and infrastructure construction, with an estimated value of USD 1.7 billion by the year 2027. This prediction suggests an increasing trend towards the adoption of technological solutions in the construction industry to improve efficiency, productivity, and overall project management. The substantial value associated with construction software underscores its perceived importance in driving innovation and streamlining processes within the sector. As such, this statistic indicates a significant opportunity for software developers and construction companies to capitalize on the expanding market for digital tools in the construction field.
Conclusion
The statistics presented demonstrate the significant growth and evolution of the Construction Management Software industry. With increasing digitalization and a focus on efficiency and productivity, the demand for such software solutions is on the rise. As technology continues to advance, it is evident that Construction Management Software will play a crucial role in shaping the future of the industry.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.constructiondive.com
2. – https://www.softwareconnect.com
3. – https://www.www.buildertrend.com
4. – https://www.geniebelt.com
5. – https://www.www.mordorintelligence.com
