2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

Which Primary Drivers Are Supporting the Continued Market Growth of theConstruction Estimating Software Market?

The construction estimating software market is projected to grow due to rising construction activities. Construction encompasses the construction, refurbishment, demolition, upkeep, or restoration of buildings, structures, or other civil engineering or architectural tasks and incorporates site preparation, excavation, drilling, seismic study, supply of products and materials, and supply of equipment and machinery. The surge in construction activities augments the proliferation of the construction estimating software market, as this software delivers swift, visual, and accurate outcomes and data solutions to the users and also offers cost savings, improved planning, quick results, and client satisfaction. For example, the United States Census Bureau, an El-led principal agency of the Federal Statistics System, reported that construction expenditure in April 2023 was forecasted to reach $1,844.1 billion, a rise from $1,753.1 billion in February 2022. Besides, construction expenditure in the initial two months of 2023 ascended to $260.8 billion, an increase from $246.1 billion during the same period in 2022. Hence, the augmenting construction activities are propelling the advancement of the construction estimating software market.

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How Has the Construction Estimating Software Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?

In recent times, there has been a substantial expansion in the market size of construction estimating software. This market is predicted to increase from $1.45 billion in 2024 to $1.57 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The historical growth trend has been influenced by factors such as the transition to digital construction procedures, management of cost overruns, governmental expenditure on infrastructure, growth of the global construction industry, variations in labor and material costs, as well as the need for accuracy in bidding.

In the coming years, the market size for construction estimating software is slated for a swift escalation. The market is predicted to expand to $2.3 billion by 2029, with a compound annual growth rate (CAGR) of 10.0%. A surge in design-build contracts, governmental smart city initiatives, the implementation of data security measures, the use of mobile estimating applications and integration with project management software contribute to this predicted growth within the forecast period. Key trends during this forecast period to note include the rise of cloud-based construction estimating solutions, the ability for customization and scalability, the application of AI-based predictive analytics for cost trends, opportunities for collaborative estimation platforms and integrating with cost databases.

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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theConstruction Estimating Software Market?

The growing trend of product innovations is gaining traction in the construction estimating software realm. To solidify their market standing, leading players in this market are centering their efforts on the creation of novel products. To illustrate, Estimating Edge, a US software firm, introduced a product named VECTOR in May 2022. This software is crafted to aid in accomplishing quantity takeoffs and precise cost estimations efficiently. It equips users with the tools to cope with both 2D blueprints and 3D prototypes, which simplifies the estimation process for those in the construction field. The principal intention of the software is to augment productivity by mechanizing monotonous tasks, bolstering teamwork, and offering active data administration.

Who Are the Key Market Players Influencing the Growth of the Corn and Construction Estimating Software Industry?

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

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Which Key Market Segments Comprise the Construction Estimating Software Market and Drive Its Revenue 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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https://www.thebusinessresearchcompany.com/customise?id=9857&type=smpGlobal Construction Estimating Software Market, Global Construction Estimating Software Market Report, Global Construction Estimating Software Market Trends, Global Construction Estimating Software Market Size

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