Bizizz Market Research has recently published a research report, “Key Construction Software Market By Product (Cloud-based, On-premise, and Web-based), Application (Builders & Contractors, Construction Managers Engineers and Architects) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Key Construction Software Market is anticipated to reach at market value of US$ 3.3 Bn by 2027, witnessing a CAGR of 9.1 % during the forecast period. The rising adoption of high efficiency practices in construction management coupled with flourishing construction industry mainly in developing countries is driving the demand for construction software across the globe.
The construction software enables the customers to collaborate and helps the players with high performance construction software. Furthermore, the in-detailed analysis of construction management than the traditional construction management model enhances the productivity of construction activities. Thus, the key players in infrastructure industry are investing heavily in adoption construction software, which in turn is anticipated to boost the demand for construction software during the forecast period.
The Key Construction Software market is anticipated to register a CAGR of over 9.1 % during the forecast period.
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By Product, The Demand for Cloud Based Construction Software to Expand Rapidly During the Forecast Period
Rising adoption of cloud in various industries have resulted in improved efficiency of operations. The cloud based construction software enables the users to access the huge amount of data and analysis easily and ensures the data security. Thus, the key players are investing in development of cloud based construction software and offers the various set of product as per the requirement of construction business. Thus, the cloud based construction software segment is anticipated to exhibit rapid CAGR during the forecast period.
By Application, Construction Manger held prominent share in Global Construction Software Market in 2018
Construction managers are adopting construction software to enhance their construction processes. The technical advancements in the software has resulted in emerge of a broad range of applications such as visual 3D effect to ease the management of construction activities. Thus, construction mangers are adoption construction software to enhance their productivity of construction activities and this in turn makes the application segment most lucrative for the forecast period.
Europe dominated the Construction Software Market in 2018
The higher adoption rate of Construction Software by key companies in construction industry due to advanced construction activities coupled with availability of huge private and public capital in the European countries such as Germany, U.K. and France have augmented the demand for key Construction Software. Therefore, Europe held prominent share in Global Construction Software market in 2018.
Global key Construction Software market was moderately consolidated as the construction software is in the introduction phase of product life cycle across the globe and key players holds the major share of the market.
Key players operating in the Global Key Construction Software Market are: Autodesk, Inc., B Computer Methods International Corp., Buildtools, Inc., entlysystems, Inc., Buildertrend Solutions, Inc., Constructconnect, Inc., ACCA software, ArCADiasoft, and ToolkitX, Skytop technologies ltd.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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