In 2021, the top 10 Construction and Real Estate software vendors accounted for nearly 37.2% of the global Construction and Real Estate applications market (Construction and Real Estate) which grew 15.4% to approach nearly $17.3 billion in license, maintenance and subscription revenues.
RealPage was the market leader with a 6.8% market share in license, maintenance and subscription revenue, followed by Oracle, Microsoft, Intuit and Yardi.
We ask the simple question: Who’s buying Construction and Real Estate applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. (Sample from our Apps Database)
Through our forecast period, the Construction and Real Estate applications market size is expected to reach $19.9 billion by 2026, compared with $17.3 billion in 2021 at a compound annual growth rate of 5.9%.
| Exhibit 2: Worldwide Construction and Real Estate Software Market 2021-2026 Forecast, $M | |||
|---|---|---|---|
| Year | 2021 | 2026 | 2021-2026 CAGR, % |
| Total | 17284 | 19904 | 5.9% |
Source: Apps Run The World, October 2022
Top 10 Construction and Real Estate Software vendors
Construction and Real Estate (Contracting and building of commercial, public, and residential structures, real estate management) – Bidding, cost estimates, Time Tracking, Homebuilder Software, Quantity Takeoff Software, Property Management, Financials, HR, Procurement
The consolidation wave among ISVs that specialize in construction will limit options for buyers. The latest is Oracle buying Textura for building information management. A robust rental market will help drive apps that better manage properties for landlords and REITs.
Here are the rankings of the top 10 Construction and Real Estate software vendors in 2021 and their market shares.
| Rank | Vendor | 2020 Construction and Real Estate Apps Revenues, $M | 2021 Construction and Real Estate Apps Revenues, $M | YoY Growth | 2021 Construction and Real Estate Apps Market Share, % | Recent Developments |
|---|---|---|---|---|---|---|
| 1 | RealPage | Subscribe | Subscribe | 1.7% | Subscribe | Realpage is targeting 62 million rental units for its real-estate management apps and $1B in revenues by 2020. RealPage currently serves more than 12,400 clients worldwide from offices in North America, Europe and Asia. |
| 2 | Oracle | Subscribe | Subscribe | 4.8% | Subscribe | In July 2022, Oracle released Oracle Construction Intelligence Cloud Analytics. This data analytics application analyzes construction projects from scheduling to accounting to material availability using information from its Smart Construction Platform, which includes Oracle applications such as Aconex and Oracle Primavera Cloud. |
| 3 | Microsoft | Subscribe | Subscribe | 8.9% | Subscribe | Microsoft Dynamics 365 for Construction is a single intelligent cloud solution that gives a comprehensive view of the construction company. Contractors can monitor construction while also managing all of the resources required to accomplish the job. All of construction-specific capabilities, such as critical project accounting, job quoting, project management, labour and equipment resource management, subcontract management, job material planning, and customer relationships, are all integrated into one database in Dynamics 365, allowing users to easily manage their business roles and responsibilities. |
| 4 | Intuit Inc. | Subscribe | Subscribe | 27.4% | Subscribe | Intuit serve more than 100 million customers and generated revenue of $12.7 billion in fiscal year which ended July 31, 2022. |
| 5 | Yardi | Subscribe | Subscribe | 10.0% | Subscribe | In a strategic move to continue the expansion of one of the fastest-growing commercial real estate data and marketing services suite, Yardi has acquired 42Floors.com, the popular commercial real estate listing service for tenants and brokers. The 42Floors.com site joins the CommercialEdge network of marketplaces comprised of Point2, CommercialSearch, CommercialCafe and PropertyShark. The well-established network draws 2 million visits to commercial property pages each month and generates more than 200,000 leads per year. Yardi has 20,000 customers, over 3000 of them are running Yardi SaaS applications. |
| 6 | Bentley Systems | Subscribe | Subscribe | 17.6% | Subscribe | In February 2022, Bentley Systems acquired Power Line Systems, a leader in software for the design of overhead electric power transmission lines and their structures. The firm’s acquisition was completed from private equity firm TA Associates for approximately $700mn in cash. Currently, Bentley Systems has more than 4,500 employees and generates annual revenues of more than $800mn across 172 countries. |
| 7 | Constellation Software Inc. | Subscribe | Subscribe | 25.7% | Subscribe | In August 2022, Constellation HomeBuilder Systems introduced BuildTopia Marketing, an email marketing tool for residential home builders enabling them to create marketing campaigns and send emails with just a few clicks. This module is available exclusively as part of the company’s BuildTopia Enterprise offering. |
| 8 | Procore | Subscribe | Subscribe | 28.7% | Subscribe | In November 2021, Procore acquired Levelset. This acquisition will add lien rights management to the Procore platform, enabling Procore to manage complex compliance workflows and improve the payment process in construction. Over 2 Million registered Procore users across the globe manage all types of construction projects. |
| 9 | Trimble | Subscribe | Subscribe | 16.2% | Subscribe | In September 2022, Trimble acquired privately-held B2W Software, a provider of estimating and operations solutions for the heavy civil construction industry, to expand its civil construction portfolio and Trimble Construction One, a purpose-built connected construction management platform. |
| 10 | CoStar Group | Subscribe | Subscribe | 17.2% | Subscribe | CoStar Group has expanded and continues to expand the coverage and depth of its information, analytics and online marketplace services. In addition to organic growth, the company has grown its business through strategic acquisitions. During FY2021, the company acquired Homes.com, Comreal Info, and BureauxLocaux. |
| Subtotal | Subscribe | Subscribe | 12.9% | Subscribe | ||
| Other | Subscribe | Subscribe | 16.9% | Subscribe | ||
| Total | 14974 | 17284 | 15.4% | 100% |
Source: Apps Run The World, October 2022
Other Construction and Real Estate software providers included in the report are: Adobe, ADP, Ansys Inc., AppFolio, Arcoro, Atlassian, Autodesk, AVEVA Group, Bluebeam, Brokermint, Buildertrend, Cisco Systems, Citrix, Computer Methods International Corp., Construction Industry Solutions Corp., CoStar Group, Dassault Systemes, Dropbox, ECi Software Solutions, Entrata, Eque2, eSUB Construction Software, FieldAware, FINALCAD, Foundation Software, Google, HCSS, Hemlane, Hexagon, IBM, iLease Management LLC, Infor, iOFFICE, Inc., JDM Technology Group, Lease Harbor, LeaseCalcs, Inc., MRI Software LLC, Nemetschek Group, Newforma, Nice Systems, Open Text Corporation, Paycom, PayProp, Pegasystems, Penta Technologies, Inc., PlanData Systems Corp, Procore, Property Matrix, Propertybase, Raken, RedTeam Software, LLC, Re-Leased Software Company Ltd, RemoteLandlord, Rent Manager by London Computer Systems, RIB Software SE, Rockwell Automation, Roper Technologies, Inc., Salesforce, ServiceNow, Siemens Digital Industries Software, SolarWinds, Sopra Steria Group SA, TenantCloud, Teradata Corporation, The Innovation Group, Twilio, Verint Systems Inc., Visma, Vonage, VTS (ex Hightower), Workday, Yonyou, Zego(formerly PayLease), and others.
Custom data cuts related to the Construction and Real Estate Applications market are available:
- Top 700+ Construction and Real Estate Applications Vendors and Market Forecast 2021-2026
- 2021 Construction and Real Estate Applications Market By Functional Market (16 Markets)
- 2021 Construction and Real Estate Applications Market By Country (USA + 45 countries)
- 2021 Construction and Real Estate Applications Market By Region (Americas, EMEA, APAC)
- 2021 Construction and Real Estate Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
- 2021 Construction and Real Estate Applications Market By Customer Size (revenue, employee count, asset)
- 2021 Construction and Real Estate Applications Market By Channel (Direct vs Direct)
- 2021 Construction and Real Estate Applications Market By Product
Exhibit 4 shows our projections for the enterprise applications market by vertical segment, based on the buying preferences and the customer propensity to invest in new software within those industries as they continue to upgrade and replace many legacy industry-specific applications that have been identified and tracked in our Buyer Insight Database.
Construction and Real Estate Software Purchases Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database
On the buyer side, customers are investing in Construction and Real Estate systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.
Since 2010, our global team of researchers has been studying the patterns of the latest Construction and Real Estate software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.
Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these Construction and Real Estate customer wins and losses from public and proprietary sources.
The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.
Source: Apps Run The World, October 2022
Further Readings
An expanded version of this report covers the top 700+ Construction and Real Estate Software Vendors(Construction and Real Estate) offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space. We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.
More Enterprise Applications Research Findings
Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) and the world’s 500 largest Cloud Applications Vendors (Cloud Top 500) ranked by their 2015-2021 product revenues.
Their 2021 results are being broken down, sorted and ranked across 16 functional areas (from Analytics to Treasury and Risk Management) and by 21 vertical industries(from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.
Research Methodology
Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market. We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.
Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.
The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.
