Global Construction Management Software Growth Opportunities

Construction management software is a vital project management tool including a suite of software and applications specifically designed for construction industry stakeholders to reduce paperwork, mitigate costs, improve labor productivity and safety, and automate and streamline tasks, workflows, and data across the project lifecycle. The software is generally used by architectural, engineering, and construction professionals, general contractors, and specialty contractors involved in the construction process. The key features and functionalities of the software analyzed in this study are project planning and scheduling, budget and cost control, document management, quality control and safety, procurement and supply chain management, workforce management, reporting and analytics, collaboration, and communication with stakeholders. For simplicity’s sake, Frost & Sullivan has segmented the market into four categories based on the software features and functionalities. They are project management, construction financials, quality, safety and compliance, and field productivity and management. This study examines revenue accrued directly by the vendor from the sale of construction management software to owners, general contractors, specialty contractors, and AEC professionals. Author: Anirudh Bhaskaran