What Lies Ahead for Construction Estimating Software Market Growth in 2025 and Beyond?

 

The Business Research Company's report on the Construction Estimating Software Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.

#Which emerging drivers are set to accelerate the growth of the construction estimating software market further?#
The increasing construction activity is expected to propel the growth of the construction estimating software market going forward. Construction refers to the creation, rebuilding, deconstruction, maintenance, or restoration of buildings, structures, or other civil engineering or architectural work and involves site preparation, excavation, drilling, seismic study, product and material supply, and equipment and machinery supply. The increased construction activity boosts the expansion of the construction estimating software market as construction estimating software offers fast, illustrated, and precise results and data solutions to their clients and also provides cost savings, better planning, faster results, and customer satisfaction. For instance, in April 2023, according to the United States Census Bureau, a US-based primary agency of the Federal Statistics System, construction spending was estimated to be $1,844.1 billion in February 2023, up from $1,753.1 billion in February 2022. Additionally, construction spending in the first two months of 2023 was $260.8 billion, which increased from $246.1 billion in the same period in 2022. Therefore, the increase in construction activity is driving the growth of the construction estimating software market.

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#What are the key factors influencing the forecasted market size of the construction estimating software industry?#
The construction estimating software market size has grown strongly in recent years. It will grow from $1.45 billion in 2024 to $1.57 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to shift to digital construction processes, cost overrun mitigation, government investments in infrastructure, global construction industry growth, labor and material cost fluctuations, demand for precision in bidding.

The construction estimating software market size is expected to see rapid growth in the next few years. It will grow to $2.3 billion in 2029 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to rise in design-build contracts, government initiatives for smart cities, data security measures, mobile estimating applications, integration with project management software. Major trends in the forecast period include cloud-based construction estimating solutions, customization and scalability, ai-based predictive analytics for cost trends, collaborative estimation platforms, integration with cost databases.

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#Who are the leading competitors in the construction estimating software market?#
Major companies operating in the construction estimating software market include Autodesk Inc., Bluebeam Inc., Corecon Technologies Inc., Glodon Company Limited, Microsoft Corporation, RIB Software SE, Sage Group PLC, Trimble Inc., AppliCAD PCL, PrioSoft, Buildsoft Pty Ltd., Heavy Construction Systems Specialists Inc., PlanSwift Software LLC, Oracle Corporation, Advanced Electrical Technologies Inc., QuoteSoft Inc., ProEst, Procore Technologies, STACK Construction Technologies, AccuLynx, HCSS, Clear Estimates, RSMeans data, Sigma Estimates, B2W Software, InEight, RedTeam Software, CostX, Esticom, Estimator360 Inc., WinEstimator Inc., Foundation Software, FastEST Inc., eTakeoff LLC, McCormick Systems, ConstructConnect, On Center Software, UDA Technologies, BidScreen XL, Causeway Technologies

#Which emerging trends are set to transform the construction estimating software market landscape?#
Product innovations are a key trend gaining popularity in the construction estimating software market. Major companies operating in the construction estimating software market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2022, Estimating Edge, a US-based software company, launched VECTOR, designed to facilitate efficient quantity takeoffs and accurate cost estimations. It allows users to work with both 2D plans and 3D models, streamlining the estimating process for construction professionals. The software aims to improve productivity by automating repetitive tasks, enhancing collaboration, and providing real-time data management.

#How do different geographies compare in terms of market share and growth potential in the construction estimating software market?#
North America was the largest region in the construction estimating software market in 2024. The regions covered in the construction estimating software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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#Which major segments of the construction estimating software market are experiencing the fastest growth?#
The construction estimating software market covered in this report is segmented –

1) By Product: Construction Accounting, Construction Management, Construction Suites, Project Management
2) By Software License: Perpetual License, Subscription License, Other Software Licenses
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-Use: Architects And Builders, Construction Managers, Contractors, Other End-Users

Subsegments:
1) By Construction Accounting: Cost Tracking, Budgeting, Invoicing, Payroll Management
2) By Construction Management: Resource Management, Scheduling, Compliance Management, Safety Management
3) By Construction Suites: Integrated Solutions, Customizable Suites
4) By Project Management: Bid Management, Change Order Management, Document Management, Reporting And Analytics

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#How is the construction estimating software market defined, and what are its core characteristics?#
Construction estimating software is a computer application that saves and transmits data and information relevant to the process of estimating building expenses. Construction estimating software is designed to make the work of construction estimators easier and their work more efficient which can range from simple spreadsheets to highly integrated estimating software.

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