DUBLIN--(BUSINESS WIRE)--The "Construction And Design Software Market Size, Share & Trends Analysis Report By Function (Cost Accounting, Project Management & Scheduling), By Deployment, By End Use, By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global construction and design software market size is expected to reach USD 18.18 billion by 2028, expanding at a CAGR of 7.7% from 2021 to 2028
The growing demand for effective tool management in the construction industry is triggering the adoption of construction and design software and consequently acting as a driving factor for market growth.
The development of digital capabilities such as IoT, Geographic Information Systems (GIS), Building Information Modeling (BIM), and recent improvements in drones and Unmanned-Aerial-Vehicle (UAV) technology can improve accuracy and speed across businesses in the construction industry.
The aforementioned factors are considered as the major drivers that are likely to create the need to adopt construction and design software across businesses. As construction and design software requires high capital investments, it makes SMEs difficult to afford their business lines, which is expected to restrain the market growth.
Growing preference for better interior design and decoration among customers and end-use industries is one of the primary factors driving the market growth. Rising government initiatives for promoting construction and real estate globally and the growing need for higher productivity are anticipated to further fuel the demand over the forecast period.
Increased investment in advanced technologies is driving competition among market players, thereby leading to the development of new design software, such as DataCAD, AutoCAD, SketchUp, and Revit, with improved technology and enhanced capabilities.
The global market for construction and design software is also fueled by growth factors such as the rising adoption of cloud-deployed construction software, increasing demand for higher accuracy and efficiency in the construction industry, and the ongoing number of M&A in the construction and IT industry.
Moreover, the integration of BIM in sustainable architecture and increasing investments in the construction sector are major opportunities for the market players operating in the market.
Construction and Design Software Market Report Highlights
- In terms of function, the project management and scheduling segment dominated the market in 2020 and is expected to retain its dominance over the forecast period. The segment growth can be attributed to the increased projectification of work and higher demand for disciplines such as product and project management globally
- In terms of deployment, the cloud segment is anticipated to expand at the highest CAGR of 9.3% over the forecast period. Cloud-based solutions allow businesses to access data across connected devices at any point, which increases the scope for customization and enables the implementation of analytical tools across multiple business channels
- In terms of end use, the architects and builders' segment is expected to expand at a promising CAGR from 2021 to 2028. This growth can be attributed to the increasing demand for design skills to maximize the project's potential and growing concern for necessary consents such as listed building, planning, and building regulation approvals. Moreover, architects & builders provide designs tailored to the customer's budgets, help reduce cost by providing thorough construction information, and ensure on-time delivery of projects
- In terms of region, Asia Pacific is anticipated to emerge as the fastest-growing regional market due to the rapid growth of economies vis-a-vis infrastructural and industrial projects. Most Asian countries such as China, Japan, India, and Singapore require a substantial amount of spending directed toward infrastructure development, which is expected to accelerate the demand for construction and design software across the Asia Pacific
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Construction and Design Software Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Construction and Design Software Market - Value Chain Analysis
3.4 Construction and Design Software Market Dynamics
3.4.1 Market driver analysis
3.4.2 Market challenge analysis
3.5 Penetration and Growth Prospect Mapping
3.6 Market Analysis Tools
3.6.1 Construction and Design Software Industry Analysis - Porter's Five Forces Analysis
3.6.2 Construction and Design Software Industry Analysis - PEST Analysis
3.7 Construction and Design Software Market - COVID-19 Impact Analysis
Chapter 4 Construction and Design Software Function Outlook
4.1 Construction and Design Software Market Share by Function, 2020 & 2028
4.2 Safety & Reporting
4.3 Project Management & Scheduling
4.4 Project Design
4.5 Field Service Management
4.6 Cost Accounting
4.7 Construction Estimation
4.8 On across Bid Management
Chapter 5 Construction and Design Software Deployment Outlook
5.1 Construction and Design Software Market Share by Deployment, 2020 & 2028
5.2 Cloud
5.3 On-premise
Chapter 6 Construction and Design Software End Use Outlook
6.1 Construction and Design Software Market Share by End Use, 2020 & 2028
6.2 Architects & Builders
6.3 Remodelers
6.4 Designers
Chapter 7 Construction and Design Software Regional Outlook
7.1 Construction and Design Software Market Share by Region, 2020 & 2028
Chapter 8 Competitive Analysis
8.1 Key Global Players, Recent Developments & Their Impact on the Industry
8.2 Company Categorization
8.3 Vendor Landscape
8.3.1 Construction and Design Software Market: Key Company Market Ranking/Share Analysis, 2020
Chapter 9 Competitive Landscape
- Autodesk Inc.
- Oracle Corporation
- Microsoft
- Trimble Inc.
- Constellation Software Inc.
- SAP
- Vectorworks, Inc.
- Sage Group plc
- Bentley Systems
- RIB Software SE
For more information about this report visit https://www.researchandmarkets.com/r/nba88p
