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Global Construction and Design Software Market By Deployment Type, By Function, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

Global Construction and Design Software Market By Deployment Type, By Function, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

  • October 2021
  • 289 pages
  • ID: 6188472
  • Format: PDF
  • KBV Research

Summary

Table of Contents

The Global Construction and Design Software Market size is expected to reach $15.5 billion by 2027, rising at a market growth of 6.5% CAGR during the forecast period. With the help of construction and design software, it becomes possible to increase the efficiency and accountability of construction businesses by simplifying their manual processes. In addition, it assists with scheduling jobs and estimates, project management, job costing, cost control, punch listing, and evaluating risks related to construction projects. In addition, the demand for construction & design software would witness bright prospects due to the rising infrastructure activities, timely completion of construction activities, integration with lean management processes, successful management, and financial visibility.

Additionally, the demand for construction and design software is expected to fuel due to the advent of next-generation technologies in the construction & design industry like Virtual Reality, Augmented Reality (AR), communication tools, drones, and business information modeling. The combination of these technologies supports health and safety in the construction sector, encouraging office personnel to fulfill social distancing norms. Conversely, the rise in trends of remote working is facilitating engineers and architectures to utilize the current construction software for the further development of their construction models.

Some of the major catalysts for the growth of the construction and design software market include an increase in the deployment rate of cloud-based construction software, demand for increased accuracy and efficiency in the construction sector, and the current M&A in the construction and IT industry. For example, in February 2018, Trimble, California-based software, hardware, and services Technology Company, took over e-Builder, a vendor of cloud-based, construction program management solutions with an aim to drive industry transformation. Key players operating in the global construction and design software market would witness lucrative growth opportunities due to the integration of BIM in sustainable architecture and a surge in investments in the construction industry.

COVID-19 Impact

The growth of the market witnessed a decline due to the outbreak of the COVID-19 pandemic. This is due to the halted activities of various construction sites worldwide. Moreover, the global pandemic has had adverse impacts on the businesses of various engineers, builders, and architects with diversified business models across various business sectors and regions. Factors such as the higher need for large-scale project management, increase in the adoption rate of cloud-based solutions, and utilization of smart devices is indicative of the future growth of the construction and design software market. Furthermore, the growth of the construction and design software would witness new growth avenues due to the increasing business expansion and research activities.

Market Growth Factors:

The growing number of smart city initiatives

A smart city refers to a technologically advanced urban area that deploys several electronic methods, sensors, and voice activation methods to obtain particular data. Moreover, the smart city focuses on better engagement of its citizens for eco-friendly resource utilization, social and better relational capital while ensuring its quality and performance. Construction and design software helps in redefining the decision-making process in the construction of energy-efficient buildings and smart cities.

Increasing adoption of cloud-based solutions and demand for this software in the oil & gas sector

The key markets players operating in the global construction and design software market are increasingly deploying cloud-based solutions due to the flexibility and convenience offered by them. In addition, the cloud-based software can be accessed from any location and at any place which makes it suitable for construction activities taking place around the world. Jonas Construction Software provides cloud-based construction management software for land developers, general contractors, specialty contractors, and home builders.

Market Restraining Factor:

The dearth of skilled professionals

The installation and management of construction and design software require a high level of expertise. Many under-developed, as well as developing countries are facing a dearth of such skilled professionals. As a result, many construction companies with budgetary constraints are not willing to shift to construction and design software. In order to operate and manage this software, professionals need to have technical knowledge. However, people with technical expertise are easily available that could hamper the demand & adoption of this software during the forecasting period.

Deployment Type Outlook

Based on Deployment Type, the market is segmented into On-premise and Cloud. With on-premise deployment, companies can achieve higher flexibility and control to redesign the system software and IT infrastructure of companies and manage data. Due to some factors like surge in complexity for real-time collaboration among project stakeholders, massive upfront capital investments, low scalability, and higher storage needs, the major market players in the construction industry are less willing to adopt on-premise solutions.

Function Outlook

Based on Function, the market is segmented into Project Management & Scheduling, Construction Estimation, Safety & Reporting, Project Design, Field Service Management, On across Bid Management, Cost Accounting and Others. The project management and scheduling segment obtained the maximum revenue share of the construction and design software market in 2020. This is attributed to the rise in demand to control and manage project activities like assigning resources, monitoring project progress, and decreasing time delays.

End User Outlook

Based on End User, the market is segmented into Architects & Builders, Remodelers, Designers, and Others. With the help of BIM, builders and architects can enhance the design and construction of buildings. The surge in the number of infrastructural projects and the increased popularity of BIM as a tool helps remodelers, architects, and designers to plan, design, and manage building projects in an effective manner. These factors are collectively responsible for the growth of the segment.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the dominating region in the global construction and design software market. Engineers, architects, designers, and builders are increasingly adopting digital systems in the infrastructure domain and BIM. The outbreak of the COVID-19 pandemic had a major impact on the consumer’s sentiments and businesses in the region, resulting in declined growth of the construction industry. However, the pace of growth would increase again from 2021 because of the massive infrastructure investments and the development of smart city initiatives.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Construction and Design Software Market. Companies such as Oracle Corporation, SAP SE, Autodesk Inc., are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Constellation Software Inc., Vectorworks, Inc., Oracle Corporation, Microsoft Corporation, Autodesk, Inc., Trimble, Inc., Bentley Systems, Inc., SAP SE, RIB Software SE, and Sage Group plc.

Recent Strategies Deployed in Construction and Design Software Market

Partnerships, Collaborations and Agreements:

Jul-2021: RIB Software partnered with AVEVA, a British multinational information technology consulting. The partnership aimed to enhance the Project Execution portfolio capabilities of AVEVA for process and plant industries. Through the partnership, AVEVA would extend the AVEVA Unified Project Execution solution to add the latest capabilities from the RIB MTWO platform. Under this partnership, the two entities would boost construction assurance, sustainability, and efficiency.

Jul-2021: Microsoft formed a partnership with InEight, a leader in construction project management software. The acquisition aimed to introduce the latest Construction 365 platform. Following the partnership, the platform would use similar coding as Microsoft Dynamics 365, which would allow the users to connect data and processes across their systems in a more standardized way.

Apr-2021: Autodesk came into a partnership with Aurigo Software, a leading cloud software company for capital planning, infrastructure construction, and facilities maintenance. The partnership aimed to simplify the complicated capital planning process for public agencies and private owners. Through this partnership, the Masterworks platform of Aurigo would integrate with many industry-leading design tools of Autodesk including AutoCAD, InfraWorks, Civil 3D, and Revit. In addition, users of Masterworks can visualize Autodesk design files stored in the cloud, label them at the time of review processes, and send them for approval, ensuring that everyone has the new version of a project’s plans readily available.

Mar-2021: Vectorworks entered into a partnership with Unreal Engine, the world’s most open and advanced real-time 3D creation tool for photoreal visuals and immersive experiences. Under the partnership, the users of Vectorworks 2021 Service Pack 3 would have access to a top-quality procedure for exporting their 3D BIM and design models to Twinmotion, Unreal Engine, and other Epic Games products that bolster the Datasmith file format. Moreover, Vectorworks used the Datasmith SDK to ensure higher fidelity of the model export to these real-time rendering applications.

Dec-2020: Microsoft teamed up with Johnson Controls, a global leader for smart and sustainable buildings. The collaboration aimed to bolster efficient and sustainable design, construction, and ongoing operation of buildings and spaces using modeling, analytics, and digital control mechanisms. Following the collaboration, the companies would digitally transform the way buildings and spaces are conceived, developed, and managed.

Dec-2020: RIB Software formed a partnership with SoftwareONE Holding, a leading global provider of end-to-end software and cloud technology solutions. The partnership aimed to bring world-leading MTWO vertical cloud solutions to the market for the Architecture, Engineering, and Construction (AEC) industry across the world.

Oct-2020: Bentley Systems extended its partnership with Microsoft, an American multinational technology corporation. Through this extended partnership, Azure IoT Digital Twins and Azure Maps of Microsoft would be integrated with the iTwins platform of Bentley Systems. This integration would facilitate engineers, constructors’ architects, and city planners to work within a comprehensive city-scale digital twin, enabling better decision-making, optimizing operational efficiency, decreasing costs, and enhancing collaboration.

Mar-2020: Sage Intacct, a subsidiary of Sage Group came into a partnership with Plumb, a premier Sage construction software value-added reseller. Following the partnership, Plump would provide the latest native cloud solution that is built on proven technology for the construction sector, thereby expanding its suite of software selection within the Sage family.

Acquisitions and Mergers:

Mar-2021: Bentley Systems completed the acquisition of GroupBC, a leading UK SaaS software innovator. Following the acquisition, Bentley Systems would leverage the growth opportunities emerging from the UK’s supportive initiatives towards major infrastructure investment and towards infrastructure digital twins. In addition, the software solutions of both companies have been installed for complementary purposes to enhance project and asset information management.

Feb-2021: Bentley Systems acquired E7, a field-based construction delivery platform, connecting project leaders with real-time insights. The acquisition aimed to incorporate capabilities to the comprehensive project delivery solution of Bentley that would assist civil contractors in fulfilling the schedule and budget requirements of infrastructure investment programs.

Nov-2020: SAP took over Emarsys, a leading vendor of omnichannel customer engagement platforms. Following the acquisition, SAP Customer Experience would build a foundation of omnichannel personalized engagement, meeting customers at preferred time and place, on their chosen channels, and as per their terms.

Aug-2020: Autodesk acquired Pype and its portfolio of cloud-based software solutions for the construction industry. The acquisition aimed to offer additional value for Autodesk Construction Cloud users, enabling general contractors, subcontractors, and owners to automate workflows like submittals and project closeout to boost overall productivity and decrease risk during the project lifecycle.

Jan-2020: Constellation Software completed the acquisition of Charter Software, the maker of the ASPEN Dealer Management System. Following this acquisition, Charter Software Solutions would be operated under the Perseus division of Constellation. This acquisition aimed to expand Constellation’s presence in the dealership management systems market.

Product Launches and Product Expansions:

Sep-2021: Vectorworks introduced Vectorworks 2022 with added features. Through this launch, the company aimed to improve product quality, performance, and user experience. Moreover, the product includes features such as Vectorworks Architect, Spotlight, Landmark, Braceworks, Fundamentals, ConnectCAD, and Vision.

Aug-2021: Sage Software Solutions, a distributor of Sage Group unveiled Sage Sage X3 R 2021 in India. Through this launch, the company aimed to provide a cost-effective and end-to-end ERP that combines several business functions of the company under one enterprise-grade business management solution and a centralized database.

Jul-2021: SAP expanded its geographical footprint by establishing a new creative center in New Zealand. Through this expansion, the company would ensure that creative spaces and innovation services are available to companies that utilize SAP solutions across all regions. The objective of the network is to put people into the center of all engagements by leveraging the potential of SAP BTP.

Jun-2021: Constellation rolled out TradeTopia under its BuildTopia platform. Through this launch, the company would facilitate the builders and trades to effectively communicate while working online including carrying out tasks like purchasing, estimating, and scheduling.

May-2021: Sage launched its latest, cloud-first Sage Data & Analytics service integration for Sage 300 and Sage 100 in the U.S. and Canada. Through this launch, the company would offer graphical cashflow analysis, live sales dashboards, detailed, and trusted P&L reports on Microsoft Azure Cloud. Moreover, Sage Data & Analytics is a robust business intelligence toolkit, integrated with AI and machine learning capabilities.

Feb-2021: Oracle rolled out Oracle Construction Intelligence Cloud Service, the latest suite of AI and analytics applications for the engineering and construction industry. The latest suit utilizes machine learning to constantly analyze project data managed in Oracle Construction and Engineering solutions to recognize these potential risks and inefficiencies early, assisting companies in making informed decisions.

Jan-2021: SAP rolled out a collection of services and software under the product named Rise with SAP. Through this launch, the company aimed to help customers with cloud migration and digital transformation initiatives.

Nov-2020: Autodesk launched Autodesk Build, Autodesk Takeoff, and Autodesk BIM Collaborate under Autodesk Construction Cloud. Through this launch, the company aimed to empower general contractors, designers, specialty trades, and owners to drive better business outcomes. These products are built on a unified platform and common data environment and can connect data, workflows, and teams throughout the entire building lifecycle, from design to operations.

Sep-2020: Vectorworks unveiled Vectorworks 2021. Through this launch, the company aimed to enhance product quality, performance, and the user experience. The product also includes Vectorworks Architect, Designer, and Fundamentals, Landmark, Spotlight along with 2021 versions of Vision, Braceworks, and ConnectCAD.

Mar-2020: Trimble unveiled Trimble Platform as a Service. Through this launch, the company would offer contractors the ability to purchase select civil construction hardware and software solutions and continue to advance those solutions with the new innovations from Trimble. Moreover, the product has added features such as Trimble Earthworks Grade Control Platform, Trimble Siteworks Positioning Systems, Trimble Correction Services, and selects office software.

Scope of the Study

Market Segments covered in the Report:

By Deployment Type

• On-premise

• Cloud

By Function

• Project Management & Scheduling

• Construction Estimation

• Safety & Reporting

• Project Design

• Field Service Management

• On across Bid Management

• Cost Accounting

• Others

By End User

• Architects & Builders

• Remodelers

• Designers

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Constellation Software Inc.

• Vectorworks, Inc.

• Oracle Corporation

• Microsoft Corporation

• Autodesk, Inc.

• Trimble, Inc.

• Bentley Systems, Inc.

• SAP SE

• RIB Software SE

• Sage Group plc

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