Covid-19 Impact on Global Construction Project Management Software Market Size, Status and Forecast 2020-2026

Covid-19 Impact on Global Construction Project Management Software Market Size, Status and Forecast 2020-2026

“Construction Project Management Software Market”
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Construction Project Management Software Market:

Executive Summary

Global Construction Project Management Software Market is valued approximately USD 1310.19 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 3.30% over the forecast period 2019-2026. Construction management software is referred to the project management tool that is specifically designed for the construction company and professionals that facilitates a secure processing of the construction process for them to increase efficiency, accountability and provide smooth processing in construction process. It offers wide range of advantages to the construction professionals in streamlining processes that were done manually such as communication, decision-making, job scheduling and others. The global impact of COVID-19 results in slowdown in global economy along with steady growth in various industries across the globe. Due to such factors, construction project management software may gain slower growth in the upcoming years. However, the rapid growth in construction sectors across the globe and inherent offering of construction project management software in construction sectors for better management, efficient communication and increasing work efficiency is expected to drive the growth of market over the forecast years. For instance: According to the Association of Equipment Manufacturer, the U.S construction industry is estimated to grow with 1% annually and it is found as increase of 1.1% in 2017 and 1.9 percent in 2018. Similarly, as per the National Investment Promotion & Facilitation Agency, the construction industry in India is expected to reach up to USD 738.5 billion till 2022. In addition, increasing requirement for large-scale project management solutions across the globe is propelling the growth of market over the forecast years. However, privacy and security concerns related to the software are the factors that is hampering the growth of market over the forecast years.

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The regional analysis of global Construction Project Management Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing requirement for large-scale project management solutions in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rapid growth in construction sector, industrialization and urbanization in the region would create lucrative growth prospects for the Construction Project Management Software market across Asia-Pacific region.

Major market player included in this report are:
Netsense Business Solutions Pte Ltd
PCOM PTE LTD
Magicsoft Asia Systems Pte Ltd
Finalcad
Procore
Aconex Ltd.
Buildertrend
CoConstruct
CPG Corporation
Textura Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment Type:
Cloud
On-premise

By Application:
Housing Construction
Municipal Engineering
Others

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026

Target Audience of the Global Construction Project Management Software Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

 

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