Construction Software Market

Construction software is a set of programs that enable the creation of vector-based representation in 3D formats for construction projects such as buildings, railways, and roads. The rising demand for increasing efficiency & productivity and need for improved quality & integration are driving the growth for the global construction software market. The rising investments in the construction sector and increasing popularity of cloud-based construction software is fueling market growth. However, the lack of skilled professionals in this area is hampering market growth.

Most countries across the globe are promoting the use of construction software for all construction projects. Governments of different countries are coming up with initiatives and implementation strategies to increase the adoption of construction software in the AEC (Architecture, Engineering, and Construction) industry. The U.K government is encouraging and promoting awareness and use of construction software and aims to make it as universal industry recognition. In July 2015, the UK government mandated the use of level two construction software for public projects to be constructed from 2016. In 2014, the Singapore government put infrastructure development across the country on high priority. Also, the adoption of construction software has become an important step toward minimizing lifecycle building costs and improving the design quality of buildings. The Singapore government is encouraging and promoting construction software development strategy both in the public and private sectors. In 2014, the government also implemented programs for incentivizing software adopters.

The government of Singapore mandated construction software e-submissions for all building projects greater than 16,404.2 square foot in 2014. Thus, government support and mandates for use of construction software across the globe will drive the growth of the global construction software market during the forecast period.

Cloud technology is slowly progressing in the construction sector. It is estimated that by 2020, the cloud market will reach USD 270 billion, with public cloud standing at a 44% growth rate. The cloud-based construction software is capable of lowering operational costs, increasing flexibility and much more. Cloud-based software solutions benefit enterprises in reducing business costs. Additionally, they require low maintenance and act as a one-point solution for storing and managing data within an organization.

Cloud-based construction software is less expensive than other traditional software packages. These solutions offer API (Application Programming Interface) that allows businesses to build custom packages. According to Associated General Contractors of America, 2017 survey, it is observed that nearly 87% of the construction contractors are using or planning to use cloud-based construction software. To suppress aging hardware costs and improve efficiency, contractors are transitioning towards cloud-host systems. Other benefits such as access to real-time data from any location via any number of mobile devices, promoting greater capabilities and tighter integration with other software used by contractors are fuelling cloud-based networks.

Construction software has proven to be an excellent tool for the enhancement of information communication and to reduce the cost and time of the project in the construction industry. Improved communication among construction managers and engineers with the help of construction software results in high efficiency.

But on the other side, the deployment of construction software is a little expensive which includes the purchase of new hardware and construction software. Although many organizations have working technology systems which can be upgraded to use the construction software. Generally, an organization has a dedicated system for its employees which runs a Windows operating system with dual or quad or multi-core processors, a graphics card, 2 to 6 GB of RAM, 17 to a 30-inch monitor and other accessories which can be seen as basic system. But to run a construction software, these systems need some upgrades which can be HDD (Hard Disk Drive) of more than 320 GB, RAM capacity up to 20 GB and an operating system which runs on 64 bit.

Talking about software, there are several software applications. The cost of the application varies from region to region and is completely dependent on the package the client seeks. Some of the applications of construction software include customer relationship management, accounting & financials, project management, and many others. While opting for any construction software, the client needs to analyze their specific needs on above-listed parameters and make the investment accordingly.