The Business Research Company’s Construction Accounting Software Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Construction Accounting Software Global Market Report 2023 evaluates construction accounting software market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global construction accounting software market is expected to grow from $1.49 billion in 2022 to $1.58 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The construction accounting software market is expected to reach $1.96 billion in 2027 at a CAGR of 5.5%.
The growing construction industry is expected to propel the growth of the construction accounting software market going forward. Construction refers to constructing structures like homes, factories, highways, and bridges. Construction accounting software enables construction firms to manage their costs and income in real-time, providing significant insights into their financial performance. It allows them to spot possible difficulties early on and rectify them before they become serious concerns. It also enables rapid and simple invoicing and payment processing, which saves time and effort. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020. Between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach $15.2 trillion. Therefore, the growing construction industry is driving the growth of the construction accounting software market.
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The construction accounting software market segments in the report are:
1) By Component: Solution, Services
2) By Deployment Type: Cloud, On-Premises
3) By Functionality: Audit Reporting, Accounts Payable And Receivable, Project Costing, Other Functionalities
4) By Application: Small And Mid-Size Construction Companies, Large Construction Companies
The table of contents in TBRC’s construction accounting software market report includes:
- Executive Summary
- Construction Accounting Software Market Characteristics
- Construction Accounting Software Market Trends And Strategies
- Construction Accounting Software Market – Macro Economic Scenario
5.1. Global Construction Accounting Software Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
- Construction Accounting Software Market Segmentation
- Construction Accounting Software Market Regional And Country Analysis
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- Brazil Construction Accounting Software Market
- Middle East Construction Accounting Software Market
- Africa Construction Accounting Software Market
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