Increasing Digitization Transforming the Construction Management Solutions Market, 2020
Increasing Digitization Transforming the Construction Management Solutions Market, 2020
A Younger Workforce, Mobile Devices, and Increasing Documentation Encourage the Transition from Pen, Paper, and Spreadsheets to Dedicated Software
29-Oct-2020
North America
$4,950.00
Special Price $3,712.50 save 25 %
Description
The construction management solution (CMS) market is crowded with numerous small and large vendors competing for customers and market share. Among the most important sources of competitive differentiation are the depth of a vendor’s product line strategy and the ability to address the needs of a variety of stakeholder groups involved in a construction project from start to finish.
Software use grows with company size: construction firms with annual revenue of between $1 million and $50 million have roughly 80% manual processes (spreadsheets, paper contracts, and long-term employees with good memories); conversely, more than 35% of construction firms with annual revenue of $50 million to $100 million have adopted CMS software, although many of those are point solutions with data integration and workflow issues.
Vendors typically provide only point solutions for project management, construction financials, quality and safety, or field productivity and focus on either a single stakeholder: an owner, general contractor, or specialty contractor. Few vendors have been able to provide solutions across the entire stakeholder ecosystem, let alone provide end-to-end solutions that integrate successfully with existing software widely used by their customers. Some large vendors have bought and consolidated point solutions into end-to-end solutions, but few have developed them that way from the start, much less grown their business organically. Migration from point solutions to platforms is driven by reporting, data flow, and integration needs. Some smaller vendors consider themselves enterprise resource planning solutions with integrated accounting for payroll.
More than 90% of general contractor businesses are private and/or family-owned. The move to the cloud is driven by generational influences as a younger demographic joins the family business and wants to update technology. Owners and specialty contractors are seeing the same phenomenon.
Construction management is a global business with widely differing project sizes requiring vendors to consider growth strategies across regions and construction types: residential, commercial, industrial, and/or infrastructure. Contract/documentation tracking for control management, risk mitigation, and legal recourse is critically important beyond tracking project progress.
In this project, market size has been derived from the bottom up from vendor subscriber and revenue metrics. Frost & Sullivan’s projections for CMS revenue in the 7 studied countries (the United States, Canada, Mexico, Australia, New Zealand, the United Kingdom, and Ireland) depend on the weighted averages of expected impacts of drivers and restraints through 2024.
Author: Robert Cavin
Table of Contents
Key Findings
Key Findings (continued)
Market Engineering Measurements
CEO’s Perspective
Digital Media Value Chain
Project Scope
Market Definitions—Product Segments
Market Definitions—Target Customer Segments
Key Questions this Study will Answer
Market Drivers
Drivers Explained
Drivers Explained (continued)
Drivers Explained (continued)
Drivers Explained (continued)
Market Restraints
Restraints Explained
Restraints Explained (continued)
Restraints Explained (continued)
Restraints Explained (continued)
Forecast Assumptions
Revenue Forecast
Revenue Forecast by Segment
Market Share Forecast by Segment
Revenue Forecast Discussion
Revenue Forecast by Region
Market Share Forecast by Region
Revenue Forecast by Region Discussion
Market Share by Customer Size
Market Share by Target Customer
Customer Segment—Owners
Customer Segment—GCs
Customer Segment—SCs
Market Share
Market Share Discussion
Competitive Environment
Autodesk
Oracle
Procore
Trimble
Other Major Participants
Competitive Factors and Assessment
Growth Opportunity 1—Convert Pen and Paper and Spreadsheets to Software
Growth Opportunity 2—Convert On-Premises Solutions to Cloud and Mobile
Growth Opportunity 3—Expand CMS Functionality from AEC to EPC
Growth Opportunity 4—Expand to Other Vertical Segments
Growth Opportunity 5—Acquire and/or Merge with Complementary Vendors
Strategic Imperatives for Success and Growth
Market Engineering Measurements
Revenue Forecast
Revenue Forecast—NALA
Revenue Forecast—EMEA
Revenue Forecast—APAC
Revenue Forecast Discussion
Market Engineering Measurements
Revenue Forecast
Revenue Forecast—NALA
Revenue Forecast—EMEA
Revenue Forecast—APAC
Revenue Forecast Discussion
Market Engineering Measurements
Revenue Forecast
Revenue Forecast—NALA
Revenue Forecast—EMEA
Revenue Forecast—APAC
Revenue Forecast Discussion
Market Engineering Measurements
Revenue Forecast
Revenue Forecast—NALA
Revenue Forecast—EMEA
Revenue Forecast—APAC
Revenue Forecast Discussion
The Last Word—Predictions
Legal Disclaimer
Market Engineering Methodology
Market Engineering Measurements
Research Methodology and Scope
List of Companies Investigated
List of Exhibits
List of Exhibits (continued)
No Index | No |
---|---|
Podcast | No |
Author | Robert Cavin |
Industries | Information Technology |
WIP Number | K53D-01-00-00-00 |
Is Prebook | No |
GPS Codes | 9523-D1,9705-C1,9A3C-D1 |