Cost-Estimating Software Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Deployment, Industry Vertical, and Geography

List of Tables

The cost-estimating software market size was valued at US$ 1.85 billion in 2023 and is expected to reach US$ 3.89 billion by 2031; it is estimated to record a CAGR of 9.7% from 2023 to 2031.

The cost-estimating software market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC, respectively. As construction, energy, oil & gas, and other industries are rising in the region, the demand for cost-effective solutions to manage and track project costs is acting as one of the major factors fueling the growth of the cost-estimating software market. The region is witnessing a huge growth in the oil & gas sector. According to the Energy Information Administration (EIA) report, in 2022, the US and Canada account for 14.7% and 5.6% of the world's crude oil production. According to the same source, the US oil production in July 2022 surpassed 12.1 million barrels per day (bpd), with a 200,000 bpd rise from May. With the expansion of midstream infrastructure, this increased oil production trend will continue over the projected period. This continuous expansion of the oil & gas sector is expected to fuel the demand for cost-estimating software as it can help stakeholders estimate the cost of the project

The Asia Pacific cost-estimating software market is projected to experience highest growth rate from 2023 to 2030 owing to rapid technological developments, an increase in government initiatives, and the digitalization of economies. The large population in the region has contributed to the demand for residential, commercial, and industrial construction activities. For instance, in Q2 of 2023, the construction of the Sydney metro to Western Sydney airport rail line started in New South Wales, Australia. This project aims to deliver a safe, fast, and reliable metro in the country and is expected to be completed in Q2 of 2026. Similarly, the construction of the Wadala GST office building started in Mumbai, India, in Q2 of 2023 and is expected to be completed in Q2 of 2026. Upon completion, the project will provide better administrative facilities for the people in the city. Also, the construction of the Minamiikebukuro Two Chome C Area Type One Urban redevelopment project started in Q2 of 222 in Tokyo, Japan, with an investment of ~US$ 1,022 million. The project will provide better residential facilities in the city and is expected to be completed in Q4 2025. In Q2 of 2022, the construction of the Cadia Qui Nhon Mixed-Use development project started in Vietnam with an investment of US$ 320 million. The project will provide a wide range of facilities, including residential and retail, to meet the lifestyle needs of people in the country. The project is expected to be completed in Q4 2024. Hence, the increasing focus on construction activities is boosting the demand for cost-estimating software, propelling the growth of the market in APAC.

Based on industry vertical, the cost-estimating software is segmented into construction industry, oil and gas industry, mining industry, energy industry, and others. The construction industry segment held the largest cost-estimating software market share. Cost-estimating software is vital in the construction industry as it offers precise and effective cost estimations for building projects. This program uses past data, benchmarks from the industry, and current market conditions to produce accurate estimates for materials, labor, equipment, and other expenses related to the project. Moreover, it enables the development of thorough cost breakdowns, allows prompt modifications to accommodate alterations in project scope or market conditions, and promotes cooperation among project stakeholders. Furthermore, it allows construction companies to simplify their bidding process, enhance project budget accuracy, and improve overall project cost management, ultimately resulting in more informed decision-making and increased project profitability

Salesforce Inc, Oracle Corp, Sage Group Plc, Trimble Inc, Procore Technologies Inc, Autodesk Inc, RIB Software, Elecosoft, ConstructConnect, and MTI Systems, Inc are among the key cost-estimating software market players that are profiled in this market study.

The overall cost-estimating software market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the cost-estimating software market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the cost-estimating software market.

Product Code: TIPRE00012760

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Cost-Estimating Software Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 Software Providers:
- 4.3.2 System Integrators:
- 4.3.3 End-Users:
- 4.3.4 List of Vendors in the Value Chain

5. Cost-Estimating Software Market - Key Market Dynamics

5.1 Cost-Estimating Software Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Use of Cost-Estimating Software in Project Management
- 5.2.2 Growing Adoption of Cloud Computing
5.3 Market Restraints
- 5.3.1 Lack of Skilled Professionals
5.4 Market Opportunities
- 5.4.1 Integration of Artificial Intelligence and Machine Learning
- 5.4.2 Expansion of Construction Industry
5.5 Market Trends
- 5.5.1 Integration of Augmented Reality and Virtual Reality for Cost Visualization
- 5.5.2 Rise in Demand for Blockchain Technology
5.6 Impact of Drivers and Restraints:

6. Cost-Estimating Software Market - Global Market Analysis

6.1 Cost-Estimating Software Market Revenue (US$ Million), 2021-2031
6.2 Cost-Estimating Software Market Forecast Analysis

7. Cost-Estimating Software Market Analysis - by Deployment

7.1 Cloud
- 7.1.1 Overview
- 7.1.2 Cloud: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
7.2 On Premises
- 7.2.1 Overview
- 7.2.2 On Premises: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)

8. Cost-Estimating Software Market Analysis - by Industry Vertical

8.1 Construction Industry
- 8.1.1 Overview
- 8.1.2 Construction Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Oil and Gas Industry
- 8.2.1 Overview
- 8.2.2 Oil and Gas Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Mining Industry
- 8.3.1 Overview
- 8.3.2 Mining Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Energy Industry
- 8.4.1 Overview
- 8.4.2 Energy Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)

9. Cost-Estimating Software Market - Geographical Analysis

9.1 Overview
9.2 North America
- 9.2.1 North America Cost-Estimating Software Market Overview
- 9.2.2 North America: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.3 North America: Cost-Estimating Software Market Breakdown, by Deployment
  - 9.2.3.1 North America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Deployment
- 9.2.4 North America: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.2.4.1 North America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Industry Vertical
- 9.2.5 North America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.1 North America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.2 United States: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.2.1 United States: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.2.5.2.2 United States: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.2.5.3 Canada: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.3.1 Canada: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.2.5.3.2 Canada: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.2.5.4 Mexico: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.2.5.4.1 Mexico: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.2.5.4.2 Mexico: Cost-Estimating Software Market Breakdown, by Industry Vertical
9.3 Europe
- 9.3.1 Europe Cost-Estimating Software Market Overview
- 9.3.2 Europe: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.3 Europe: Cost-Estimating Software Market Breakdown, by Deployment
  - 9.3.3.1 Europe: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Deployment
- 9.3.4 Europe: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.4.1 Europe: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Industry Vertical
- 9.3.5 Europe: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.1 Europe: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.2 UK: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.2.1 UK: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.2.2 UK: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.5.3 Germany: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.3.1 Germany: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.3.2 Germany: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.5.4 France: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.4.1 France: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.4.2 France: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.5.5 Italy: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.5.1 Italy: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.5.2 Italy: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.5.6 Russia: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.6.1 Russia: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.6.2 Russia: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.3.5.7 Rest of Europe: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.3.5.7.1 Rest of Europe: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.3.5.7.2 Rest of Europe: Cost-Estimating Software Market Breakdown, by Industry Vertical
9.4 Asia Pacific
- 9.4.1 Asia Pacific Cost-Estimating Software Market Overview
- 9.4.2 Asia Pacific: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.3 Asia Pacific: Cost-Estimating Software Market Breakdown, by Deployment
  - 9.4.3.1 Asia Pacific: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Deployment
- 9.4.4 Asia Pacific: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.4.1 Asia Pacific: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Industry Vertical
- 9.4.5 Asia Pacific: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.1 Asia Pacific: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.2 China: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.2.1 China: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.2.2 China: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.5.3 Japan: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.3.1 Japan: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.3.2 Japan: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.5.4 India: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.4.1 India: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.4.2 India: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.5.5 South Korea: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.5.1 South Korea: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.5.2 South Korea: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.5.6 Australia: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.6.1 Australia: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.6.2 Australia: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.4.5.7 Rest of APAC: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.4.5.7.1 Rest of APAC: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.4.5.7.2 Rest of APAC: Cost-Estimating Software Market Breakdown, by Industry Vertical
9.5 Middle East and Africa
- 9.5.1 Middle East and Africa Cost-Estimating Software Market Overview
- 9.5.2 Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.3 Middle East and Africa: Cost-Estimating Software Market Breakdown, by Deployment
  - 9.5.3.1 Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Deployment
- 9.5.4 Middle East and Africa: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.5.4.1 Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Industry Vertical
- 9.5.5 Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.1 Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.2 Saudi Arabia: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.2.1 Saudi Arabia: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.5.5.2.2 Saudi Arabia: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.5.5.3 United Arab Emirates: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.3.1 United Arab Emirates: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.5.5.3.2 United Arab Emirates: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.5.5.4 South Africa: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.4.1 South Africa: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.5.5.4.2 South Africa: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.5.5.5 Rest of Middle East and Africa: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.5.5.5.1 Rest of Middle East and Africa: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.5.5.5.2 Rest of Middle East and Africa: Cost-Estimating Software Market Breakdown, by Industry Vertical
9.6 South and Central America
- 9.6.1 South and Central America Cost-Estimating Software Market Overview
- 9.6.2 South and Central America: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.3 South and Central America: Cost-Estimating Software Market Breakdown, by Deployment
  - 9.6.3.1 South and Central America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Deployment
- 9.6.4 South and Central America: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.6.4.1 South and Central America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Industry Vertical
- 9.6.5 South and Central America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.1 South and Central America: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.2 Brazil: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.2.1 Brazil: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.6.5.2.2 Brazil: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.6.5.3 Argentina: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.3.1 Argentina: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.6.5.3.2 Argentina: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.6.5.4 Rest of South and Central America: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.6.5.4.1 Rest of South and Central America: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.6.5.4.2 Rest of South and Central America: Cost-Estimating Software Market Breakdown, by Industry Vertical

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Collaboration, Merger and Acquisition
11.4 Product News & Company News

12. Company Profiles

12.1 Salesforce Inc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Oracle Corp
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Sage Group Plc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Trimble Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Procore Technologies Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Autodesk Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 RIB Software
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Elecosoft
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 ConstructConnect
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 MTI Systems, Inc.
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 Word Index
13.2 About The Insight Partners