LONDON--(BUSINESS WIRE)--The global construction management software market is expected to reach USD 1.8 billion by 2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the increasing requirements for large-scale project management. At present, organizations are focusing on cultivating and managing the resources necessary for efficient product outputs, which increases the requirements for large-scale construction project management solutions. Automation of processes in order to ensure maximum outputs by managing resources and maintaining a regular follow-up is the primary purpose of the construction management software.
This market research report on the global construction management software market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the integration of construction management software estimation and accounting software as one of the key emerging trends in the global construction management software market:
Global construction management software market: Integration of construction management software estimation and accounting software
Players in the market are trying to integrate construction management software with all types of estimation and accounting software for managing the construction business. The software players are aiding the integration with the help of professional software teams that have experts. This type of integration is designed particularly for sub-contractors to enhance their productivity and increase profits.
“The integrated construction management software allows players to purchase orders, change orders, as well as pull and populate employees. It can handle material costs, cost codes, and contacts. This integrated software significantly enhances the communication between the accounting staff and employees who are in the field,” says a senior analyst at Technavio for research on enterprise application.
Global construction management software market: Segmentation analysis
This market research report segments the global construction management software market into the following end-users (builders and contractors, construction managers, and engineers and architects) and key regions (the Americas, APAC, and EMEA).
The builders and contractors segment held the largest market share in 2017, accounting for nearly 46% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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