What Are The Historical and Forecasted Market Sizes for The Construction Estimating Software Market?
The construction estimating software market has witnessed robust growth over recent years. It is anticipated to grow significantly from $1.45 billion in 2024 to $1.57 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.4%. The historic period’s growth can be attributed to a shift towards digital construction processes, mitigating cost overruns, government investments in infrastructure, global construction industry growth, and the fluctuations in labor and material costs.
The construction estimating software market is estimated to witness a rapid surge in growth over the next few years, with expectations of reaching $2.3 billion by 2029 at a CAGR of 10.0%. The forecast period’s growth can be attributed to several factors, such as the rise in design-build contracts, government initiatives for smart cities, measures for data security, mobile estimating applications, and integration with project management software. Major trends forecasted for the period include cloud-based construction estimating solutions, customization and scalability, AI-based predictive analytics for cost trends, collaborative estimation platforms, and integration with cost databases.
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What Are the Key Drivers of Growth for the Construction Estimating Software Market?
Rising construction activity is earmarked as a pivotal factor propelling the growth of the construction estimating software market. Construction, encompassing creation, rebuilding, deconstruction, maintenance, restoration of buildings, site preparation, excavation, seismic study, product and material supply, and equipment and machinery supply, fuels the market growth due to the accuracy, speed, data solutions, and cost savings offered through construction estimating software. For instance, the United States Census Bureau reported construction spending of $1,844.1 billion in February 2023, up from $1,753.1 billion in February 2022, indicating growing potential for construction estimating software.
What Are the Major Segments in the Construction Estimating Software Market?
1) By Product: Construction Accounting, Construction Management, Construction Suites, Project Management
2) By Software License: Perpetual License, Subscription License, Other Software Licenses
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-Use: Architects And Builders, Construction Managers, Contractors, Other End-Users
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Who Are the Major Players in the Construction Estimating Software Market?
Key companies operating in the construction estimating software market include Autodesk Inc., Bluebeam Inc., Corecon Technologies Inc., Glodon Company Limited, Microsoft Corporation, RIB Software SE, Sage Group PLC, Trimble Inc., AppliCAD PCL, PrioSoft, Buildsoft Pty Ltd., Heavy Construction Systems Specialists Inc., PlanSwift Software LLC, Oracle Corporation, Advanced Electrical Technologies Inc., QuoteSoft Inc., ProEst, Procore Technologies, STACK Construction Technologies, and AccuLynx.
What Are The Emerging Trends in The Construction Estimating Software Market?
Product innovation is witnessing an upward trend in the construction estimating software market. For instance, Estimating Edge, a US-based software company, launched VECTOR, a tool designed for efficient quantity takeoffs and accurate cost estimations in May 2022.
Which Region Holds the Highest Share in the Construction Estimating Software Market?
North America was the largest region in the construction estimating software market in 2024. The regions featured in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Construction Estimating Software Market Report 2025 Offer?
Construction estimating software, a computer application that saves and transmits building expense-related data and information, is designed for enhancing the efficiency of the construction estimators’ work. It ranges from simple spreadsheets to highly integrated estimating software. The Construction Estimating Software Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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