Construction Bid Management Software Market Report 2024

This Construction Bid Management Software market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The construction bid management software market size has grown rapidly in recent years. It will grow from $0.86 billion in 2023 to $1.0 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The expansion observed in the past can be linked to the use of digital tools, rising project complexity, adherence to regulatory requirements, cost management and budgeting, and competitive bidding practices.

The construction bid management software market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The anticipated growth in the future is driven by the digital transformation of construction, the rise in infrastructure projects, cloud-based solutions, compliance with regulations, and heightened competition. Key trends expected during this period include a surge in cloud adoption, the use of AI and machine learning, increased mobile accessibility, a stronger emphasis on data security, and improved collaboration tools.

The expansion of construction projects is anticipated to drive the growth of the construction bid management software market. This growth in construction is fueled by rising urbanization, infrastructure development, and global demand for both residential and commercial spaces. Construction bid management software helps streamline and automate the bidding process, improving efficiency, accuracy, and transparency in construction projects. For example, a quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency in June 2023 indicated that from Q1 2022 to Q1 2023, the overall construction industry grew by 6.5%. Specifically, the housing sector saw an 11.1% increase, and the infrastructure subsector grew by 3.7%. As a result, the expansion in construction projects is boosting the demand for construction bid management software.

Leading companies in the construction bid management software market are focusing on developing advanced platforms, such as bid leveling software, to gain a competitive advantage. Bid leveling software is a specialized tool for comparing and evaluating bids from various contractors or suppliers. For instance, Beck Technology, a US-based software firm, introduced DESTINI Bid Day in April 2022. This web-based bid leveling software aims to enhance the subcontractor selection process. It allows users to perform a thorough analysis of subcontractor bids and integrates seamlessly with the DESTINI Estimator platform. The tool provides color-coded alerts for missing bid information, facilitates easy bid comparison, and supports real-time collaboration by allowing multiple team members to work on bids simultaneously.

In May 2024, BID Equity, a Germany-based private equity firm, acquired REALVIEW AG for an undisclosed sum. This acquisition is expected to enhance BID Equity's position in the construction software market and improve the value delivered to its clients. REALVIEW AG, based in Switzerland, specializes in bid management software.

Major companies operating in the construction bid management software market are Oracle Corporation, Autodesk Inc., Trimble Inc., Sage Intacct Inc., Procore Technologies, ConstructConnect, Bluebeam Inc., HeavyBid (HCSS), Buildertrend, BidClerk, B2W Estimate, On Center Software, RedTeam, EstimateOne, Pantera Tools, BidCentral, ConEst, Contractor Foreman, eSUB Inc., ProEst, SmartBid, STACK Construction Technologies, PipelineSuite.

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

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

Construction bid management software is a specialized digital solution designed to streamline and oversee the bidding process for construction projects. It assists construction firms, contractors, and subcontractors in efficiently managing the intricate tasks involved in bidding, from the initial request for proposals (RFP) through to the final contract award.

There are two main types of construction bid management software on-premise and cloud-based. On-premise software is installed and operated on computers within the user’s organization. This type is utilized by both small and medium-sized enterprises (SMEs) and large enterprises across various applications, including commercial, residential, infrastructure, and industrial construction projects.

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

The construction bid management software market includes revenues earned by entities by providing services such as bid solicitation, document management, bid comparison, bid submission, and reporting and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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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