Construction Software Global Market Report 2024

The construction software market size has grown rapidly in recent years. It will grow from $3.61 billion in 2023 to $4.06 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth during the historic period can be attributed to several factors, labor shortages in the construction industry prompting companies to adopt software solutions, increasing regulatory requirements due to the growing complexity and scale of construction projects, a rise in the number of stakeholders involved in construction projects, and the widespread use of mobile devices and tablets in the industry.

The construction software market size is expected to see rapid growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to several key factors, the focus on sustainable construction practices, increasing demand for project management tools, growing adoption of building information modeling (BIM), digital transformation within the construction industry, and the need for seamless integration with other enterprise systems. Major trends expected during this period include innovations in construction technology, a shift towards cloud computing, integration of AI and machine learning, enhanced collaboration tools, and the integration of IoT devices.

The rise in construction projects is expected to drive the growth of the construction software market. Construction projects involve planning, executing, and managing building structures or infrastructure developments from start to finish. The growing demand for infrastructure development, urbanization, and renovation projects is fueling the increase in construction activities worldwide. Construction firms use construction software to streamline project management, enhance communication, improve scheduling, and optimize resource allocation, which ultimately boosts efficiency and reduces costs. For example, the Northern Ireland Statistics and Research Agency reported in June 2023 that from the first quarter of 2022 to the first quarter of 2023, the overall construction industry grew by 6.5%, with the housing sector increasing by 11.1% and the infrastructure subsector by 3.7%. Consequently, the rise in construction projects is propelling the growth of the construction software market.

Leading companies in the construction software market are focusing on developing innovative solutions, such as user-friendly building construction software, to improve efficiency and productivity in the construction industry. These solutions feature intuitive interfaces for designing, planning, and managing construction projects, thereby streamlining workflows for architects, engineers, and contractors. For instance, in April 2023, Topcon Positioning Systems Inc., a US-based company specializing in precision positioning technology, launched Digital Layout, a user-friendly building construction software aimed at helping more contractors adopt digital layout workflows, thus enhancing efficiency, accuracy, and productivity. This software is designed to offer a significant advantage in the dynamic field of building construction, catering to a wide range of professionals, including general contractors, concrete contractors, MEP contractors, steel erectors, and fire suppression companies. It supports 2D, 3D, and BIM workflows and operates efficiently on Microsoft Windows and Android systems.

In October 2023, Hilti Corporation, a Switzerland-based provider of construction tools and systems, acquired 4PS Group for an undisclosed amount. This acquisition aims to enhance Hilti's software portfolio beyond asset and job site management (Fieldwire). 4PS Group, based in the Netherlands, specializes in providing construction software.

Major companies operating in the construction software market are Microsoft Corporation, Oracle Corporation, Intuit Inc., Autodesk Inc., Constellation Software Inc., Trimble Inc., Sage Group plc, Bentley Systems Inc., Nemetschek Group, Jonas Construction Software Inc., Procore Technologies Inc., ConstructConnect Inc., Buildertrend Solutions Inc., Computer Methods International Corp. (CMiC), InEight Inc., Heavy Construction Systems Specialists Inc. (HCSS), STACK Construction Technologies Inc., Fieldwire, Bridgit Inc., Plexxis Software Inc., CoConstruct LLC, Corecon Technologies Inc., Esticom Inc.

North America was the largest region in the construction software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the construction software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Construction software encompasses a suite of digital tools and applications aimed at facilitating and streamlining various aspects of the construction industry, including project management, design, budgeting, scheduling, and communication. These tools are utilized by construction professionals such as project managers, architects, engineers, and contractors to enhance efficiency, collaboration, and accuracy in construction projects.

The primary types of construction software include project management, account or financial management, quality and safety, field productivity, and others. Project management involves planning, executing, and overseeing a project to achieve specific goals within defined constraints such as time, budget, and resources. This software can be deployed via cloud and on-premises and is utilized by organizations ranging from large enterprises to small and medium enterprises (SMEs). It serves various applications, catering to general contractors, building owners, architects and engineers, subcontractors, and specialty contractors.

The construction software research report is one of a series of new reports that provides construction software market statistics, including the construction software industry's global market size, regional shares, competitors with a construction software market share, detailed construction software market segments, market trends and opportunities, and any further data you may need to thrive in the construction software industry. This construction software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The construction software market consists of revenues earned by entities providing services such as document management, building information modeling (BIM), and project management. The market value includes the value of related goods sold by the service provider or included within the service offering. The construction software market also includes sales of construction scheduling software, construction document management software, field service management software, safety management software, and asset management software. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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