Industry Background:
Construction estimation software is widely used to calculate the total cost of a construction project. Estimation software computerizes the designs gained from manual spreadsheets & calculators. The introduction of tools helps and increases the speed as well as accuracy of the estimation process. Estimating software supports in improving a contractor's capability to compete with other bidders & exactly represent the actual cost of a project to clients, so improving productivity & bidding process. The increasing construction industry is likely to boost the growth of the global construction estimation software market over the coming years.
According to AMA Research, the market for Construction Estimation Software is expected to register a CAGR of 9.6% during the forecast period to 2028. This growth is primarily driven by Increasing investments in infrastructure development
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Causeway Technologies Limited (United Kingdom), Cordell Information Pty Ltd (Australia), ProEst (United States), Sage Group (United Kingdom), Viewpoint, Inc.(United States), Corecon Technologies, Inc (United States), Xactware Solutions, Inc.(United States), iSqFt, Inc.(United States) and BluBridge Solutions Inc (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In January 2022, Autodesk acquired ProEst, a construction software company. ProEst Estimating Software is a cloud-based solution that enables construction companies to create estimates, generate reports & proposals, and other digital takeoffs.In December 2018, Causeway Technologies has announced with FP McCann Limited that StormBrake, vortex control is now fully integrated within Causeway’s advanced Flow drainage design and analysis software. This addition provides drainage designers as well as engineers with one of the most cutting-edge tools in the industry for achieving optimal design outcome & return on investment by shortening the hydraulic modelling process.
Influencing Trend:
Growing adoption of cloud-based construction estimation software
Market Growth Drivers:
Increasing investments in infrastructure development and An extended measure of the utilization of cloud-based programming
Challenges:
Growing threat from low-cost service providers
Restraints:
High and upfront recurring cost of the software
Opportunities:
Growing investments in infrastructure development in developing markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Construction Estimation Software Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Construction Estimation Software Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Construction Estimation Software players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Construction Estimation Software Study Sheds Light on
The Construction Estimation Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Construction Estimation Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Construction Estimation Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.