The construction management software market is expected to grow by USD 724.88 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global Construction Management Software Market 2020-2024 (Graphic: Business Wire)
There is an increase in the demand for large-scale project management and large-scale construction project management solutions. This is encouraging organizations to increasingly adopt construction management software as it helps in maintaining a regular follow-up and managing resources by automating the process. This automation of operations not only boosts productivity by minimizing the response time but also increases connectivity so that organizations can handle project-related inquiries easily and effectively. Thus, the increasing requirement for large-scale project management is expected to drive market growth during the forecast period.
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As per Technavio, the application of lean management in construction management will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Construction Management Software Market: Application of Lean Management in Construction Management
The adoption of lean management concept is targetted at minimizing waste and effective use of resources to provide the most productive output possible. The adoption of lean management by builders, contractors, and architects is expected to increase the functionalities of construction management software and minimize the wastage at different stages of the projects. Lean management techniques run as an internal program to reduce wastage on the construction site, in project management processes, and the IT project portfolio.
“Other factors such as the increasing popularity of cloud-based construction management software, and the integration of construction management software estimation and accounting software will have a significant impact on the growth of the construction management software market value during the forecast period,” says a senior analyst at Technavio.
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Construction Management Software Market: Segmentation Analysis
This market research report segments the construction management software market by deployment (on-premises and cloud-based), end-user (builders and contractors; construction managers; and engineers and architects), and geography (North America, APAC, Europe, South America, and MEA).
The North American region led the construction management software market in 2019, followed by Europe, APAC, South America, and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to the presence of advanced economies such as the US that have a high rate of infrastructure development.
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Some of the key topics covered in the report include:
- Builders and contractors
- Construction managers
- Engineers and architects
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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