The global construction software market is anticipated to witness significant growth over the forecast period on account of growing need for accurate cost estimation solutions for construction designs and projects. These software offer unique features allowing builders to perform complex calculations quickly and efficiently. In addition, they can create building designs in 2D and 3D formats. Increasing number of construction companies globally is also likely to fuel the demand for advanced tools, thereby augmenting market expansion. In addition, stringent regulatory policies related to structure of residential and commercial buildings can further boost product demand in the coming years. Using advanced tools, architects can easily create design for commercial or residential buildings considering all required parameters and regulatory norms.
On the other hand, lack of experts and awareness regarding these tools may have a slightly negative impact on the growth of market. However, continual efforts by major companies to simply operations of these tools for enhanced accessibility is projected to create lucrative opportunities for the market. Construction estimation and designing software are the two different types available in the market. The estimation software helps contractors in calculating approximate cost that can incur during a particular project. Such pre-calculations can help builders save a lot of money and time. It can automate the calculations and enhance estimation accuracy and speed. This can fuel the product demand contributing to the global market growth.
Considering the rising demand, major companies are investing more in R&D to design advanced construction software. For instance, Clear Estimates recently introduced pro version of their product, which is a more powerful and improved version till date. This advanced application enables integration with CRMs and email marketing tools. In another instance, Buildsoft is offering an advanced software called Cubit that provides unique solution for construction and building project cost estimation. The designing tool provide remodelers and builders with required tools and symbols projects enabling them to easily design complex 2D and 3D designs of home or commercial buildings. There are numerous construction designing software available in the market that offer advanced features to support designers.
For instance, SketchUp, a 3D modeling program that can be used in various industries for designing purposes. It contains 3D model library that helps designers save time. Another example is AutoCAD, which is capable of creating both 2D and 3D designs. Geographically, Asia Pacific is predicted to witness high demand attributed to the presence of a large number of end-use companies. Furthermore, increasing population in developing countries like India and China is likely to augment the market growth over the years to come. Increasing by government investments on infrastructure projects including railways, roads, and residential buildings is also anticipated to drive the regional market.
North America is also expected to witness high demand due to the lack of skilled professionals and stringent tax laws related to construction projects. Some of the leading companies in the construction software market are Adobe, Inc.; SketchUp; Autodesk, Inc.; Siemens PLM Software; and Oracle Corporation. Most of these companies have undertaken business strategies like mergers and acquisitions to expand their product portfolio and maintain market position. For instance, Autodesk recently announced the plans to acquire PlanGrid. PlanGrid is a cloud-based management software company. Hence, Autodesk is combining PlanGrid’s software with its BIM 360 and Revit systems to provide better solutions.
