Fatpos Global has released a report titled “Construction Software Market- Analysis of Market Size, Share & Trends for 2014 – 2021 and Forecasts to 2031” which is anticipated to reach USD 4.75 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 9.2% between 2021 and 2031. The study claims that throughout the forecast period, factors including cloud-based software, automated processes, increased product output, and advancements in technology platforms would accelerate the growth of the construction software market. Additionally, it is anticipated that rising demand for complicated building projects will propel market expansion.

The market report on the global Construction Software Market includes in-depth insights as:

• The estimated value of the market was USD 1.97 billion in the year 2021.
• Global Construction Software Market in North America held the largest market share in the year 2020.
• Global Construction Software Market is classified on the basis of Product into Cloud, On-Premise, and Web-Based.
• Based on Application, the global Construction Software Market is fragmented into General Contractors, Building Owners, Independent Construction Managers, and Sub-Contractors.
• Key players are likely to focus on product developments, strategic alliances, mergers and acquisitions, and partnerships to retain their positions in the developed markets.

“The market is expanding as a result of the expanding need for large-scale project management as well as ongoing research and development efforts to create better iterations of the software. Along with these, expanding lean management application areas in the construction sector and growing investments to boost firms' productivity are anticipated to propel the market to considerable growth in the years to come. Additionally, the developed economies' early adoption of technology is also boosting the market's expansion.”, said a lead analyst at Fatpos Global.

Construction software connects numerous applications and stages of the project life cycle, from pre-sale through building and final invoicing, and helps businesses automate crucial operations including takeoff, estimating, project management, and accounting. These resources can aid businesses in modernizing, expanding, and running more effectively. Software designed for builders and contractors can read a blueprint and make these calculations more quickly and accurately. Additionally, it serves as a central database that enables users to upload and save this data in a single, searchable area. Businesses can access a virtual paper trail for each project using this database.

Global Construction Software Market is classified on the basis of application into General Contractors, Building Owners, Independent Construction Managers, and Sub-Contractors. In the construction software sector, the General Contractors segment held the largest market share. The day-to-day management of a construction site, material planning, resource allocation, and equipment needed for the project's construction fall within the purview of the general contractor.

Key Players in the Market

Some of the key players operating in the global Construction Software Market are Sage Group PLC, Oracle Corporation, BuilderTREND, Trimble Inc, Constellation Software Inc., Comprotex Software Inc., iSqFt (ConstructConnect), Procore Technologies Inc., BuilderMT, Turtle Creek Software, and Other Prominent Players.

Get Valuable Insights into Global Construction Software Market

In the new report, Fatpos Global thrives to present an unbiased analysis of the global Construction Software Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into growth that is witnessed in the market. Global Construction Software Market is classified on the basis of Product into Cloud, On-Premise, and Web-Based. By Application, the global Construction Software Market is divided into General Contractors, Building Owners, Independent Construction Managers, and Sub-Contractors. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.

About Fatpos Global

Fatpos Global is a leading management consulting, advisory and market research organization that serves its clients globally through its team of experts and industry veterans that have years of expertise in management consulting, advisory, and market research analysis. The organization functions across business consulting, strategy consulting, market research, operations consulting, financial advisory, human resources, risk & compliance, environmental consulting, software consulting, and sales consulting amongst others, and aims to aid businesses with bold decisions that help them embrace change for their sustainable growth.