Global Electrical Estimating Software Market Overview:
Electrical estimating software is a tool that assists experts in accurately predicting labor, materials, and project difficulties. These systems often feature databases with thousands of things to help with electrical task quotations and direction. Electrical estimating software was created primarily for construction companies that work in the electrical, telecommunications, and low-voltage industries. Electrical estimating software for new home construction, commercial, industrial, multi-family, remodeling, service work, flat rate, and other types of work. Electrical contractors can use this estimating software to handle contracts, generate bids, manage quotes, and reuse them.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (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 |
Influencing Trend:
Increased Usage of Cloud-based Software
Market Growth Drivers:
Increasing Investments in Infrastructure Development in both Developed and Developing Countries and Emergence of Smart Cities across the globe especially in Emerging Economies such as India, China, Brazil
Challenges:
Technical Issues Associated with Software and Surging Threat from Low-cost Service Providers
Restraints:
Growing Adoption of Open-source Estimation Software
Opportunities:
Growth in the Construction Industry Worldwide and Increasing Demand from End-users
Competitive Landscape:
The global Electrical Estimating Software market is fragmented due to the presence of several software providers. The level of competition among the companies in the electrical estimating software market is intense and software providers focus on developing new technologies and offering customization to the customers. During the coming years, a number of companies will also follow partnership, merger, acquisition, and other strategies to sustain in this competitive market
Some of the key players profiled in the report are Trimble (United States), JDM Technology Group (Canada), FieldPulse (United States), First Choice Electrical Estimating Software (United States), TurboBid LLC (United States), Esticom (United States), Hard Hat Industry Solutions (United States), Charter Estimating Company (United States), Jaffe Software Systems (United States), McCormick Systems (United States) and PlanSwift (United States). Additionally, following companies can also be profiled that are part of our coverage like Spearhead Software (Australia) and Electrical Resources (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Electrical Estimating Software market by 2028. Considering Market by Features, the sub-segment i.e. Bid analysis and management will boost the Electrical Estimating Software market. Considering Market by Subscription, the sub-segment i.e. Monthly Subscription will boost the Electrical Estimating Software market. Considering Market by Deployment Model, the sub-segment i.e. Cloud-Based will boost the Electrical Estimating Software market.
Latest Market Insights:
In May 2021, Foundation Software, LLC acquired McCormick Systems. Foundation Software, LLC is construction back-office solutions provider. This acquisition strengthens Foundation Software's ability to serve the construction community and become the dominant provider of back-office solutions for contractors.
On Oct. 14, 2021, Trimble introduced its model-based estimating workflow, which seamlessly connects the Building Information Model (BIM) to the estimate for mechanical piping and electrical contractors. Powered by a direct API connection between Trimble® SysQue® detailing software and Trimble Estimation® MEP cloud estimating software, the workflow provides contractors with greater project insight and visibility, improved collaboration and more accurate project execution.
What Can be Explored with the Electrical Estimating Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Electrical Estimating Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Electrical Estimating Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electrical Estimating Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electrical Estimating Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Electrical Estimating Software Provider, End-users Industries, System Integrators, Market and Research Firms, Government Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.