New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Construction Accounting Software Market Size, Share, Growth and Trend Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Solution and Services), Deployment (On Premise and Cloud), and Application (Small and Mid-Sized Construction Companies and Large Construction Companies)”; the global construction accounting software market is expected to grow from USD 0.943 billion in 2022 to USD 1.21 billion by 2028; it is expected to grow at a CAGR of 6.3% from 2022 to 2028.
Download PDF Brochure at https://www.theinsightpartners.com/sample/TIPRE00010990
Global Construction Accounting Software Market – Report Scope:
| Market Size Value in | USD 0.94 Billion in 2022 |
| Market Size Value by | USD 1.21 Billion by 2028 |
| Growth rate | CAGR of 6.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 154 |
| No. of Tables | 83 |
| No. of Charts & Figures | 80 |
| Historical data available | Yes |
| Segments covered | Offering, Deployment, and Application |
Construction Accounting Software Market: Competitive Landscape and Key Developments
Acclivity Group LLC; Chetu Inc.; Corecon Technologies Inc.; Deltek Inc.; Foundation Software, LLC; Freshbook; Intuit Inc.; Sage Group; Viewpoint Inc.; and Xero Limited are the leading players profiled in the construction accounting software market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help key players strategize their growth. A few developments are mentioned below:
In 2020, Viewpoint—a Trimble Company and construction management software leader—and the Construction Financial Management Association (CFMA) announced a joint endeavor to provide in-depth visibility into important financial, project, and industry benchmarks to help contractors more reliably deliver projects on time and within budget.
In 2020, FreshBooks, an accounting software company, announced that its software will now be available on the North American Ingram Micro Cloud Marketplace.
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00010990
Rising Penetration of ERP Modules in Construction Industry Drives Global Construction Accounting Software Market Growth:
Building information management (BIM) has become mainstream among engineering and construction companies. The evolution of enterprise resource planning (ERP) software has played a pivotal role in the technology strategy of construction businesses in recent years. In the US, supporting the Government Construction Strategy, where procurement laws for projects may be revised, there has been a movement toward establishing minimum levels of BIM compulsory to avail tender in government-funded projects. The necessity to move to a greater level of the agreement will intensify the adoption of BIM. For companies in engineering and construction markets considering ERP or enterprise asset management (EAM) and project management choices, elevate the importance of an integrated approach. Construction accounting software can be easily integrated with ERP modules. As most of the large construction companies are considering ERP modules for a better flow of their business, the demand for construction accounting software is also increasing.
The construction accounting software market players use dedicated servers and data centers to store customer data and the company's crucial information and plan samples. Several companies across industries face a significant threat from cyber attackers, and in the recent past, numerous cyber-attacks have been recorded. The data loss affects the reputation of accounting software providers, ultimately resulting in financial loss. To eliminate the risk of customer data loss and financial crisis, construction accounting software developing companies invest significant amounts in enhancing their security systems. The players are also developing and integrating robust anti-cyberthreat solutions to prevent the loss of crucial information and data. Thus, by strengthening the security level with advanced encryption patches and using a robust anti-piracy or anti-cyberthreat solution, the companies are expected to attract increased clientele and propel financial growth. This factor is anticipated to boost the construction accounting software market growth in the coming years.
Check Discount on this Report at https://www.theinsightpartners.com/discount/TIPRE00010990
APAC is one of the largest construction markets in the world. China, India, South Korea, Japan, and Australia are the key contributors to the APAC construction accounting software market. The construction accounting software market in the region is expected to grow at a high CAGR due to the growing construction industry and the increasing adoption of new technologies. The large population in countries such as India and China has increased the demand for commercial and residential infrastructure. APAC comprises many emerging economies, such as India, China, and other southeastern countries, which are posting strong demand for more infrastructure projects. Moreover, various countries in the region are focusing on attracting new investments in infrastructure development. For instance, India's government has allowed 100% FDI under automatic routes in completed projects for operations and management of townships, malls/shopping complexes, and business constructions. All the above factors are expected to support the growth of the construction industry in the region, which will fuel the growth of the region's construction accounting software market.
Global Construction Accounting Software Market: Industry Overview
The construction accounting software market is segmented based on offering, deployment, application, and geography. Based on offering, the construction accounting software market is segmented into solution and services. Based on deployment, the market is bifurcated into on premise and cloud. Based on application, the market is segmented into small and mid-sized construction companies and large construction companies.
Based on geography, the construction accounting software market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, and the Rest of Europe), Asia Pacific (Australia, Japan, South Korea, India, China, and the Rest of APAC), MEA (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).
Buy Premium Copy of Construction Accounting Software Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00010990
Browse other research published by The Insight Partners:
Global Construction Management Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Deployment Type (Cloud, On-premises); End-user (Builders and Contractors, Construction Companies, Engineers and Architects) and Geography
Global Construction Quality Management Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software, Services); Deployment (On-Premise, Cloud); End-User (Construction Managers, Builders and Contractors, Engineers and Architects, Others) and Geography
Global Construction Jobsite Management Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Installed-PC, Installed-Mobile, Cloud-Based); End-User (General Contractors, Building Owners, Independent Construction Managers, Sub-Contractors, Others) and Geography
Global Construction Drawing Management Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Installed-PC, Installed-Mobile, Cloud-Based); End-Users (General Contractors, Building Owners, Independent Construction Managers, Sub-Contractors, Others) and Geography
Global Construction CRM Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (Cloud, On premise); Enterprise Size (SME, Large enterprise) and Geography
Global Construction Project Management Software Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Type (Cloud-based, On-premises); Application (Housing construction, Municipal engineering, Others) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/construction-accounting-software-market
