Construction Procurement Software Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Construction Procurement Software Market was valued at USD 851.3 million in 2023 and is projected to grow at a CAGR of 8.5% from 2024 to 2032. The construction industry's swift digital transformation is propelling the growth of the construction procurement software market. Digital procurement solutions automate tasks like purchase orders, contract management, and supplier management offering visibility into enhancing decision-making and procurement activities. Responding to the surging market demand, industry players are adopting strategic initiatives. For example, in January 2024, Once for All Group acquired BidWork Construction Software Ltd.
This acquisition will see BidWork integrated into Once for All’s UK and France portfolio, which includes Constructionline, Facilities Line, and Attestation Legale. The integration aims to enhance productivity for estimators and surveyors, elevate the quality and accuracy of bid information, and foster collaboration with suppliers. The overall construction procurement software industry is classified based on component, organization size, application, end-user, deployment model, and region. The market, segmented by components, consists of software and services.
In 2023, the software segment commanded over 70% of the market share. This segment's growth is spurred by the rising demand for all-encompassing procurement software. By centralizing data, streamlining workflows, and bolstering team collaboration, construction procurement software enhances operational efficiency. It offers real-time insights into procurement activities, leading to informed decision-making and optimal resource management.
With the construction sector's emphasis on efficiency and transparency, the appetite for procurement software boasting end-to-end management capabilities is on the rise. Segmented by organization size, the market caters to SME and large organizations. The large organization segment is projected to generate around USD 990 million in market revenue by 2032. Large entities, often juggling intricate procurement processes across diverse projects, locations, and departments, necessitate sophisticated software. Such software not only streamlines processes and curtails administrative overhead but also ensures uniform procurement practices.
Moreover, the capability to integrate procurement software with other enterprise systems amplifies operational efficiency. In 2023, North America led the global construction procurement software market with a 30% share. With construction regulations in North America becoming increasingly stringent, firms are prioritizing compliance with legal standards and industry guidelines. Features like risk assessment modules, automated compliance checks, and audit trails are pivotal in mitigating risks and sidestepping costly penalties.As North American construction firms intensify their focus on compliance and risk management, the demand for robust procurement software is set to escalate.
This acquisition will see BidWork integrated into Once for All’s UK and France portfolio, which includes Constructionline, Facilities Line, and Attestation Legale. The integration aims to enhance productivity for estimators and surveyors, elevate the quality and accuracy of bid information, and foster collaboration with suppliers. The overall construction procurement software industry is classified based on component, organization size, application, end-user, deployment model, and region. The market, segmented by components, consists of software and services.
In 2023, the software segment commanded over 70% of the market share. This segment's growth is spurred by the rising demand for all-encompassing procurement software. By centralizing data, streamlining workflows, and bolstering team collaboration, construction procurement software enhances operational efficiency. It offers real-time insights into procurement activities, leading to informed decision-making and optimal resource management.
With the construction sector's emphasis on efficiency and transparency, the appetite for procurement software boasting end-to-end management capabilities is on the rise. Segmented by organization size, the market caters to SME and large organizations. The large organization segment is projected to generate around USD 990 million in market revenue by 2032. Large entities, often juggling intricate procurement processes across diverse projects, locations, and departments, necessitate sophisticated software. Such software not only streamlines processes and curtails administrative overhead but also ensures uniform procurement practices.
Moreover, the capability to integrate procurement software with other enterprise systems amplifies operational efficiency. In 2023, North America led the global construction procurement software market with a 30% share. With construction regulations in North America becoming increasingly stringent, firms are prioritizing compliance with legal standards and industry guidelines. Features like risk assessment modules, automated compliance checks, and audit trails are pivotal in mitigating risks and sidestepping costly penalties.As North American construction firms intensify their focus on compliance and risk management, the demand for robust procurement software is set to escalate.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Solution providers
3.2.2 Services provider
3.2.3 Technology providers
3.2.4 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Case studies
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Rapid urbanization and infrastructure development
3.9.1.2 Government initiatives and investments
3.9.1.3 Growing adoption of digital technologies across construction sector
3.9.1.4 Increasing focus on cost efficiency
3.9.2 Industry pitfalls & challenges
3.9.2.1 Data privacy and security concerns
3.9.2.2 High implementation costs
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY COMPONENT, 2021-2032 ($MN)
5.1 Key trends
5.2 Software
5.3 Services
5.3.1 Professional
5.3.2 Managed
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY DEPLOYMENT MODEL, 2021-2032 ($MN)
6.1 Key trends
6.2 On-premises
6.3 Cloud
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY ORGANIZATION SIZE, 2021-2032 ($MN)
7.1 Key trends
7.2 SME
7.3 Large organization
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021-2032 ($MN)
8.1 Key trends
8.2 Supplier management
8.3 Purchase order management
8.4 Bid management
8.5 Contract management
8.6 Document management
8.7 Compliance management
8.8 Others
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY END-USER, 2021-2032 ($MN)
9.1 Key trends
9.2 General contractors
9.3 Subcontractors
9.4 Project owners
9.5 Architects and engineers
9.6 Government agencies
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021-2032 ($MN)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Netherlands
10.3.8 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.4.7 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of LATAM
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
CHAPTER 11 COMPANY PROFILES
11.1 Asite
11.2 Autodesk
11.3 Bentley Systems
11.4 Bluebeam, Inc.
11.5 Buildertrend
11.6 BuildTools
11.7 Buildxact
11.8 CMiC
11.9 CoConstruct
11.10 Contractor Foreman
11.11 Fieldwire
11.12 HARDI Solutions
11.13 Jonas Construction Software
11.14 Oracle
11.15 PlanSwift
11.16 Procore
11.17 Sage
11.18 SAP SE
11.19 Triax Technologies
11.20 Trimble
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Solution providers
3.2.2 Services provider
3.2.3 Technology providers
3.2.4 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Case studies
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Rapid urbanization and infrastructure development
3.9.1.2 Government initiatives and investments
3.9.1.3 Growing adoption of digital technologies across construction sector
3.9.1.4 Increasing focus on cost efficiency
3.9.2 Industry pitfalls & challenges
3.9.2.1 Data privacy and security concerns
3.9.2.2 High implementation costs
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY COMPONENT, 2021-2032 ($MN)
5.1 Key trends
5.2 Software
5.3 Services
5.3.1 Professional
5.3.2 Managed
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY DEPLOYMENT MODEL, 2021-2032 ($MN)
6.1 Key trends
6.2 On-premises
6.3 Cloud
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY ORGANIZATION SIZE, 2021-2032 ($MN)
7.1 Key trends
7.2 SME
7.3 Large organization
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021-2032 ($MN)
8.1 Key trends
8.2 Supplier management
8.3 Purchase order management
8.4 Bid management
8.5 Contract management
8.6 Document management
8.7 Compliance management
8.8 Others
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY END-USER, 2021-2032 ($MN)
9.1 Key trends
9.2 General contractors
9.3 Subcontractors
9.4 Project owners
9.5 Architects and engineers
9.6 Government agencies
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021-2032 ($MN)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Russia
10.3.7 Netherlands
10.3.8 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.4.7 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of LATAM
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
CHAPTER 11 COMPANY PROFILES
11.1 Asite
11.2 Autodesk
11.3 Bentley Systems
11.4 Bluebeam, Inc.
11.5 Buildertrend
11.6 BuildTools
11.7 Buildxact
11.8 CMiC
11.9 CoConstruct
11.10 Contractor Foreman
11.11 Fieldwire
11.12 HARDI Solutions
11.13 Jonas Construction Software
11.14 Oracle
11.15 PlanSwift
11.16 Procore
11.17 Sage
11.18 SAP SE
11.19 Triax Technologies
11.20 Trimble
