The oil and gas industry is predicted to significantly increase its demand for construction management software. This is because the software promotes openness in onshore, brownfield, and shale-based construction projects. The programme is useful for monitoring deep water oil and gas projects as well as the progress of oil and gas facilities.
In 2020, the market for Construction management software was estimated at US$ 1.4 billion, and by 2028, it is anticipated to have grown to US$ 2.6 billion, with a CAGR of 8.2%.
Prominent Players in the Construction Management Software Industry:
1. BENTLEY SYSTEMS: Created in 1984. United States headquarters. For the design, building, and maintenance of infrastructure, Bentley Systems Inc. offers software solutions to engineers, architects, geospatial experts, contractors, and owner-operators. Recent purchases include Power Line Systems (Nov 2021) and EasyPower (Feb 2023) as well as ADINA (Apr 2022).
2. PlanGrid, Inc.: Established in 2011. Developer of construction productivity software with a U.S. base that aims to provide project information in real time. Construction companies can manage blueprints, specs, and RFIs from their mobile devices easily thanks to the company's software, which offers real-time updates, blueprints, field reports, project documents, collaboration with private spaces, and file synchronising over Wi-Fi and cellular networks.
3. Procore Technologies, Inc.: A cloud-based provider of construction management software is Procore Technologies Inc. It makes money by charging users to access its software products through subscriptions. Design Coordination, BIM, Field Productivity, Project Financials, Invoice Management, Portfolio Financials, Capital Planning, Accounting Integrations, and Analytics are just a few of the company's offerings. Established in 2003. Admin centre in the U.S. Procore completes Levelset acquisition to streamline construction lien management workflows
4. Sage Group plc: Established in 1981. Located in England, in the United Kingdom. The Sage Group is a company established in the United Kingdom that primarily serves clients in the United States and Europe with accounting and enterprise resource planning (ERP) software. Since its inception in 1981, the business has sold on-premises software solutions with perpetual licences. The business is shifting, nonetheless, towards cloud-connected and cloud-native solutions that are offered through SaaS agreements. Sage Accounting, for small businesses, and Sage Intacct, which Sage bought in 2017, are the company's two primary cloud-native solutions.
5. Trimble Navigation Limited: Location-based services are offered by Trimble Inc. for use with GPS, laser, optical, and inertial technologies. 3D laser scanning, flow and application control systems, monitoring systems, water management, and navigation infrastructure are among its product offerings. Additionally, it produces GPS systems as well as goods based on optics and lasers. Established in 1978. United States headquarters. According to 2018, Trimble would acquire Viewpoint to produce the most comprehensive construction management solution in the industry.
6. Viewpoint Inc.: owner of a platform for project management. The company's platform offers collaboration and enterprise resource planning software to the construction sector, allowing them to achieve streamlined procedures and clear communication while lowering risk and increasing efficiency. Built in 1976. United States headquarters. According to 2018, Trimble would acquire Viewpoint to produce the most comprehensive construction management solution in the industry.
7. BuildStar Technologies, Inc.: Established in 2001. United States headquarters. Creator of building software with the goal of reducing costs and saving time while boosting client satisfaction. With the use of the company's home builder software, builders may estimate, schedule, and manage budgets in order to improve business productivity. By 2027, the market for construction management software is anticipated to reach $2.73 billion. Top Players: Trimble Navigation Limited, Sage Group plc, PlanGrid Inc., Procore Technologies Inc., Viewpoint Inc., and Bentley Systems Inc.
*Definition: It's a tool (or a set of tools) that goes beyond just project management capabilities and enables construction firms to carry out tasks such as managing budgets, ensuring quality and safety programs, setting schedules and timelines, completing quality and safety checklists, storing daily report, communicating.
