The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Construction Boom Drives Market Expansion

• Construction activity encompasses various processes such as site preparation, excavation, drilling, and more.
• According to the United States Census Bureau, construction spending has been on a steady rise, indicating increased activity.
• The construction estimating software market benefits from offering efficient solutions, cost savings, and improved planning.

Key Players Driving Innovation

• Companies like Autodesk, Trimble, and Sage Group lead the market.
• Focus on developing innovative products to cater to evolving market needs.
• Trimble’s cloud-based software Trimble Quest streamlines preconstruction and bidding processes.

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Hexagon AB Strengthens Construction Portfolio With Acquisition Of Projectmates’ SaaS-Enabled Project Management Software

Strategic Acquisition for Enhanced Portfolio

• Hexagon AB, a Sweden-based technology company, acquires Projectmates to bolster its construction portfolio.
• Projectmates offers SaaS-enabled project management software, complementing Hexagon’s existing offerings.
• Hexagon’s comprehensive construction portfolio, including reality capture solutions, gains further depth with this acquisition.

Segmentation of the Construction Estimating Software Market

Understanding Market Dynamics

• The market is segmented based on product, software license, deployment, enterprise size, and end-use.
• Product segments include construction accounting, management, suites, and project management.
• Software license options vary from perpetual to subscription licenses.
• Deployment options encompass cloud-based and on-premise solutions.
• Target clientele range from small and medium enterprises to large corporations, including architects, builders, construction managers, and contractors.

Regional Insights: North America Leading the Charge

Dominance of North America

• North America emerged as the largest region in the construction estimating software market in 2023.
• The region’s robust construction industry drives software adoption and innovation.
• High demand for precision, cost efficiency, and project management solutions fuels market growth.
• Major players like Autodesk and Trimble have a strong presence in North America, contributing to market leadership.

Forecast: Steady Growth Ahead

Promising Outlook

• The construction estimating software market is poised for steady growth in the coming years.
• Projections suggest a compound annual growth rate (CAGR) of 8.9% by 2028, reaching $2.09 billion.
• Factors driving growth include design-build contracts, government initiatives for smart cities, and integration with project management software.
• Cloud-based solutions, AI-driven analytics, and collaborative platforms are anticipated to be major trends in the forecast period.

Conclusion: Embracing Technological Advancements

Embracing Innovation for Future Success

• The construction estimating software market is witnessing significant growth driven by technological advancements and increasing construction activity.
• Companies must stay abreast of market trends and invest in innovative solutions to remain competitive.
• Collaborations, acquisitions, and product innovations will be key strategies for market players to capitalize on emerging opportunities and sustain growth in this dynamic landscape.

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The Construction Estimating Software Global Market Report 2024  provides comprehensive insights on the construction estimating software market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the construction estimating software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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