Global Construction Bid Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Construction Bid Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Construction bid management software allows construction organizations to streamline bidding processes through the use of contract creation and organization tools. Construction Bid Management Software can be divided into on-premise, cloud-based, applicable to construction company, general contractors, construction managers, etc.

Market Overview:

The latest research study on the global Construction Bid Management Software market finds that the global Construction Bid Management Software market reached a value of USD 710.31 million in 2022. It’s expected that the market will achieve USD 1535.89 million by 2028, exhibiting a CAGR of 13.72% during the forecast period.

Market Drivers

Bidding management is a time-consuming process. The general contractor spends several hours pre-qualification of subcontractors, creates an invitation to bid (ITB), and provides each invited bidder with the information, plans and specifications they need to submit accurate bids or proposals. With the bidding management software, the general contractor can quickly determine who they want to invite to bid, create a list of bidders, and share plans and specifications with all invited subcontractors at the same time, which is a huge time saving.
With Construction Bid Management Software, the general contractor can easily share information and appendices with all its bidders. Some Construction Bid Management Software allow the general contractor to track the documents and archives they have visited and viewed, and allow them to contact and review the plans and specifications together with their subcontractors to ensure a better understanding of the project and the expectations of each subcontractor. With Construction Bid Management Software, the general contractor can easily track the number of bids they received for each transaction and which subcontractors responded to their bids.
Most bid management solutions also provide access to a larger network of trade contractors and suppliers. This enables the general contractor to contact the trade contractors they may not be familiar with and invite them to bid for the project. This will not only help to ensure proper bidding coverage of the project, but also help the general contractor to establish relationships and develop networks for future projects. Most Construction Bid Management Software allow general contractors to prequalify trade contractors using customized forms or industry standard consensus pre-construction forms. Then, the general contractor can evaluate the risk factors of each professional contractor according to its safety record, financial status, bonding ability, current workload and past work experience. The advantages of Construction Bid Management Software will promote the rapid growth of Construction Bid Management Software industry demand.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Procore, ConstructConnect, Inc., Autodesk, with the revenue market share of 11.08%, 8.09%, 7.27% in 2020.

Procore Technologies, Inc. provides cloud-based construction software to clients across the globe. Using its award-winning suite of project management tools, hundreds of thousands of registered Procore users manage all types of construction projects including industrial plants, office buildings, apartment complexes, university facilities, retail centers, and more. Procore helps firms drastically increase project efficiency and accountability by streamlining and mobilizing project communications and documentation.

ConstructConnect is a leading provider of construction information and technology solutions in North America. ConstructConnect is the combination of eight legacy brands (BidClerk, Construction Market Data, Construction Data, iSqFt, PlanSwift, SmartBid, On Center Software, and QuoteSoft).

Segmentation Overview:

Among different product types, Cloud-based segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the General Contractors segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Construction Bid Management Software market covered in Chapter 3:

ECI Software Solutions
Autodesk
Pantera Global Technology
PipelineSuite
Bid Planroom
Procore
WeBuild
Specialty Software Group
Sage Group
ConstructConnect, Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Construction Bid Management Software market from 2018 to 2029 is primarily split into:

On-premise
Cloud-based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Construction Bid Management Software market from 2018 to 2029 covers:

Construction Company
General Contractors
Construction Managers
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)