According to a new Future Market Insights survey, the global market for Jobsite management software is expected to reach US$ 13.1 billion by 2032, growing at a CAGR of 8.6% over that time. The market has grown as a result of the increased need for large-scale project management.
According to estimates, one of the main variables influencing the market over the evaluation period will be rapid urbanization. The construction market is anticipated to experience a considerable expansion during the projected period as more people move to urban areas. Additionally, it is projected that new housing trends and smart cities, which are supported by digital technology, will increase market size shortly. For instance, BIM software like AutoCAD and Revit allows the user to digitally test the construction. These advancements are anticipated to give the sector a major boost over the assessment period.
As a result of the growing emphasis on smart manufacturing, Asia Pacific is predicted to experience the quickest growth during the projected period. The presence of developing economies like China, Japan, and India has made the region one of the most significant markets for construction and design software. Construction equipment earned US$ 5 billion in revenue in 2020, according to Invest India, the Government of India’s National Investment Promotion and Facilitation Agency.
Important findings of the market study
- The general contractors’ end-user category is predicted to lead the market and display a CAGR of 8.5% throughout the forecast period.
- The cloud-based segment is anticipated to see a CAGR of 8.6% from 2022 to 2032, broken down by product type.
- By 2032, the U.K. market is expected to be valued at US$536.4 million.
- China’s industry will see a CAGR of 7.9% over the forecast period.
- During the assessment period, the South Korean market is anticipated to maintain a value of US$ 470.8 Million.
Heavy Construction Systems Specialists, Inc., Fieldwire, CoConstruct, sub-construction software, and DataForma are important market participants. Important market developments include:
- To enable operators to properly monitor the compaction process, Trimble Inc., a California-based participant in the building and construction industry, developed the Trimble Roadworks Paving Control Platform for asphalt in February 2022.
- Tekla Structures 2021, a structural BIM software solution for structural engineering, steel fabrication management, and constructible BIM, was released in March 2021 by Trimble Inc. With in-product coaching, the software offers enhanced features and better usability.