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Construction Accounting Software Market Trends

  • Report ID: GMI5837
  • Published Date: May 2023
  • Report Format: PDF

Construction Accounting Software Market Trends

Construction companies are looking for software solutions that automate repetitive tasks such as invoice processing, payment tracking, and financial reporting. Automation not only saves time but also reduces the risk of manual errors and improves overall accuracy. Additionally, digitization enables the seamless flow of information between different systems and stakeholders, enhancing project visibility & decision-making. Cloud-based construction accounting software has also gained significant traction in the market. With remote work becoming more prevalent, construction companies require solutions that provide remote access to financial data and enable collaboration among team members.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of construction accounting software exceeded USD 1.5 billion in 2022 and will observe 5% CAGR from 2023-2032 due to the rising government initiatives for large commercial projects

Demand for cloud construction accounting software exceeded USD 1 billion in 2022 owing to the growing requirement for remote accessibility, scalability, and data security in construction companies

The solution segment recorded over 60% of the construction accounting software industry share in 2022 driven by the rising need for basic accounting functionalities in construction companies

Asia Pacific held over 20% share of the global construction accounting software sector in 2022 impelled by the rapid urbanization and infrastructure development in the region.

Acclivity Group LLC, Chetu Inc, ConstructConnect, Inc., Corecon Technologies Inc, Deltek Inc, e-Builder, Foundation Software LLC, FreshBooks USA Inc, Intuit Inc, Oracle Construction and Engineering, PENTA Construction Software, Sage Group Plc, Viewpoint Inc, and Xero Ltd.

Construction Accounting Software Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 323
  • Countries covered: 17
  • Pages: 250
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