Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Construction Estimating Software Market size is expected to reach $2.2 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Perpetual License segment is showcasing a CAGR of 8.7% during (2022 - 2028). Throughout the projection period, it is anticipated that the perpetual licence market will grow rapidly. For a one-time cost, a perpetual licence entitles the user to use the software permanently. However, technical assistance and software updates could be scarce for the first few years. The customer can choose new software or continue using the current perpetually licensed construction estimating software with no software upgrades or technical help after the technical assistance time has ended.
The Architects & Builders segment acquired maximum revenue share in the Global Construction Estimating Software Market by End-use 2021 thereby, achieving a market value of $868.7 million by 2028. The adoption of construction estimating software is anticipated to increase during the forecast period due to advancements in Virtual Reality (VR) and Augmented Reality (AR) technologies and related ongoing integration into architecture, engineering, and consulting software, as well as the significant rise in the number of construction projects.
The Small & Medium Enterprises segment has shown the growth rate of 10.2% during (2022 - 2028). During the forecast period, the SMEs (small and medium enterprises) segment is predicted to post a sizable CAGR. SMEs are increasingly choosing cloud-based solutions thanks to developments in cloud computing, the agility they offer, and the rise in profitability that comes with their adoption. Additionally, they are using automation technologies to quickly and efficiently respond to questions about projects.
The Cloud segment is generating highest revenue share in the Global Construction Estimating Software Market by Deployment 2021 thereby, achieving a market value of $1.2 billion by 2028. The popularity of cloud computing is increasing as the construction industry develops because construction organizations view cloud deployment as the preferable method of deploying construction estimating software. Cloud adoption provides cost-efficiency while enhancing productivity by enabling the use of data to streamline processes.
The North America market dominated the Global Construction Estimating Software Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $850.6 million by 2028. The Europe market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Bluebeam, Inc. (Nemetschek Group), Autodesk, Inc., Corecon Technologies, Inc., RIB Software SE (Schneider Electric Investment AG), Pacific Northern Environmental LLC, Vision InfoSoft (JDM Technology Group), Trimble, Inc., Glodon Company Limited, and The Sage Group PLC.
By License Type
By End User
By Large Enterprises
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