The construction bid management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Construction Bid Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The construction bid management software market size has grown rapidly in recent years. It will grow from $0.86 billion in 2023 to $1.00 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to the adoption of digital tools, increasing project complexity, regulatory requirements, cost control and budgeting, and competitive bidding.
The construction bid management software market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to digital transformation in construction, growing infrastructure projects, cloud-based solutions, regulatory compliance, and increased competition. Major trends in the forecast period include increasing cloud adoption, AI and machine learning utilization, mobile accessibility, a focus on data security, and enhanced collaboration tools.
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Scope Of Construction Bid Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Construction Bid Management Software Market Overview
Market Drivers –
Growth in construction projects is expected to propel the growth of the construction bid management software market going forward. Construction projects are growing due to increasing urbanization, infrastructure development, and global demand for residential and commercial spaces. Construction bid management software streamlines and automates the bidding process, enhancing efficiency, accuracy, and transparency in construction projects. For instance, in June 2023, according to the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency, a UK-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, growth in construction projects is driving the growth of the construction bid management software market.
Market Trends –
Major companies operating in the construction bid management software market are increasing their focus on developing innovative platforms, such as bid leveling software, to gain a competitive edge in the market. Bid leveling software is a specialized tool used in the construction industry to compare and evaluate bids from different contractors or suppliers. For instance, in April 2022, Beck Technology, a US-based software company, launched DESTINI Bid Day, a web-based bid leveling software designed to improve the subcontractor selection process in construction. This tool allows for comprehensive analysis of subcontractor bids and seamlessly integrates with the existing DESTINI Estimator platform. Users can easily evaluate and compare bids, gain insights into the underlying data, and assess potential risks. The software uses color-coded cues to highlight missing information in bids, making it easy to identify issues that require attention. Multiple team members can work on bids simultaneously to ensure real-time updates and collaboration.
The construction bid management software market covered in this report is segmented –
1) By Type: On-premise, Cloud-based
2) By Company Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Application: Commercial Construction, Residential Construction, Infrastructure Construction, Industrial Construction, Other Applications
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Regional Insights –
North America was the largest region in the construction bid management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction bid management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the construction bid management software market are Oracle Corporation, Autodesk Inc., Trimble Inc., Sage Intacct Inc., Procore Technologies, ConstructConnect, Bluebeam Inc., HeavyBid (HCSS), Buildertrend, BidClerk, B2W Estimate, On Center Software, RedTeam, EstimateOne, Pantera Tools, BidCentral, ConEst, Contractor Foreman, eSUB Inc., ProEst, SmartBid, STACK Construction Technologies, PipelineSuite
Table of Contents
1. Executive Summary
2. Construction Bid Management Software Market Report Structure
3. Construction Bid Management Software Market Trends And Strategies
4. Construction Bid Management Software Market – Macro Economic Scenario
5. Construction Bid Management Software Market Size And Growth
…..
27. Construction Bid Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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