Europe Construction Accounting Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Deployment Type (Cloud and On-premises), and Application (SMEs and Large Enterprises)
The construction accounting software market in Europe is expected to grow from US$ 196.00 million in 2019 to US$ 269.70 million by 2027; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027.
UK, Germany, France, Italy and Russia are major economies in Europe. Growing adoption of ERP modules in construction industry has witnessed growth in recent years which is driving the Europe construction accounting software market in a positive way. Engineering and construction companies are now adopting building information management (BIM) as a common trend in some businesses, mostly in the UK, to promote the Government Construction Strategy. In the European Union (EU), where acquisition laws for projects may be updated, there has been a drive toward stabilizing least levels of BIM requisite to avail tender in government-funded projects. This compulsion to propose to a greater level of the agreement will only escalate BIM adoption in the coming years. For organizations in the engineering and construction market, acknowledging ERP or enterprise asset management (EAM) and project management alternatives, these trends upgrade a unified approach's significance. For corporations in the engineering and construction market, considering ERP or enterprise asset management (EAM) and project management options, these trends elevate an integrated strategy's importance. Construction accounting software can efficiently integrate with ERP modules. As numerous large construction businesses accept ERP modules for a more conventional flow of their trade, the demand for construction accounting software is also set to rise, which is further anticipated to drive the construction accounting software market in Europe.
Further, the ongoing COVID-19 is impacting the Europe region very badly. Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region due to the COVID-19 outbreak. As per the latest WHO estimates, the overall confirmed cases in Europe accounted for more than 4.10 million, with 218,035 deaths till 28th August 2020. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. It is a fact that European construction markets have had a lot of challenges leading up to the COVID -19 crisis with stagnation trends in several countries. Not surprisingly, the ongoing crisis is expected to have a huge negative impact on the markets in all the European countries this year. Pertaining to this fact, even the IT companies offering various construction related solutions have observed decline in their sales. However, as the regional experts of Europe foresee, positive growth rates will be seen already next year and a normalization in 2022. This in turn, is anticipated to have a positive impact on the construction accounting software market in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe construction accounting software market. The Europe construction accounting software market is expected to grow at a good CAGR during the forecast period.
Europe Construction Accounting Software Market
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Europe Construction Accounting Software Market Segmentation
Europe Construction Accounting Software Market – By Component
- Solutions
- Services
Europe Construction Accounting Software Market – By Deployment Type
- Cloud
- On-Premises
Europe Construction Accounting Software Market – By Application
- SMEs
- Large Enterprises
Europe Construction Accounting Software Market, by Country
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
Europe Construction Accounting Software Market - Companies Mentioned
- Chetu Inc.
- FreshBooks
- Intuit Inc.
- Sage Group plc
- Viewpoint, Inc.
- Xero Limited
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Construction Accounting Software Market – By Component
1.3.2 Europe Construction Accounting Software Market – By Deployment
1.3.3 Europe Construction Accounting Software Market – By Application
1.3.4 Europe Construction Accounting Software Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Construction Accounting Software Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Construction Accounting Software – Key Market Dynamics
5.1 Drivers
5.1.1 Construction Industry Gradually Prospering
5.1.2 Growing Adoption of ERP modules in construction industry
5.2 Restraints
5.2.1 Large Dependency on Conventional Accounting Tools
5.3 Market Opportunities
5.3.1 Developing Countries Becoming Conscious
5.4 Future Trends
5.4.1 Data Loss Prevention by Improved Data Security
5.5 Impact Analysis of Drivers and Restraints
6. Construction Accounting Software Market – Europe Market Analysis
6.1 Construction Accounting Software Market Europe Overview
6.2 Europe Construction Accounting Software Market Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. Europe Construction Accounting Software Market Analysis – By Component
7.1 Overview
7.2 Europe Construction Accounting Software Market Breakdown, by Component, 2019 & 2027
7.3 Solution
7.3.1 Overview
7.3.2 Solution Market Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services Market Revenue and Forecast to 2027 (US$ Million)
7.4.2.1 Europe Construction Accounting Software Market , By Services
8. Europe Construction Accounting software Market Analysis – By Deployment Type
8.1 Overview
8.2 Europe Construction Accounting Software Market Breakdown, by Deployment Type, 2019 & 2027
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud Market Revenue and Forecast to 2027 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise Market Revenue and Forecast to 2027 (US$ Million)
9. Europe Construction Accounting Software Market Analysis – By Application
9.1 Overview
9.2 Europe Construction Accounting Software Market Breakdown, by Application, 2019 & 2027
9.3 SMEs
9.3.1 Overview
9.3.2 SMEs Market Revenue and Forecast to 2027 (US$ Million)
9.4 Large Enterprises
9.4.1 Overview
9.4.2 Large Enterprises Market Revenue and Forecast to 2027 (US$ Million)
10. Europe Construction Accounting Software Market – Country Analysis
10.1 Overview
10.1.1 Europe: Construction Accounting Software Market, By Country
10.1.1.1 Germany: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Construction Accounting Software Market, by Component
10.1.1.1.2 Germany: Construction Accounting Software Market, by Deployment Type
10.1.1.1.3 Germany: Construction Accounting Software Market, by Application
10.1.1.2 France: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Construction Accounting Software Market, by Component
10.1.1.2.2 France: Construction Accounting Software Market, by Deployment Type
10.1.1.2.3 France: Construction Accounting Software Market, by Application
10.1.1.3 Italy: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Construction Accounting Software Market, by Component
10.1.1.3.2 Italy: Construction Accounting Software Market, by Deployment Type
10.1.1.3.3 Italy: Construction Accounting Software Market, by Application
10.1.1.4 UK: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Construction Accounting Software Market, by Component
10.1.1.4.2 UK: Construction Accounting Software Market, by Deployment Type
10.1.1.4.3 UK: Construction Accounting Software Market, by Application
10.1.1.5 Russia: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Construction Accounting Software Market, by Component
10.1.1.5.2 Russia: Construction Accounting Software Market, by Deployment Type
10.1.1.5.3 Russia: Construction Accounting Software Market, by Application
10.1.1.6 Rest of Europe: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Construction Accounting Software Market, by Component
10.1.1.6.2 Rest of Europe: Construction Accounting Software Market, by Deployment Type
10.1.1.6.3 Rest of Europe: Construction Accounting Software Market, by Application
11. Europe Construction Accounting Software Market- COVID-19 Impact Analysis
11.1 Europe
12. Industry Landscape
12.1 Mergers and Acquisitions
13. Company Profiles
13.1 Chetu Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 FreshBooks
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Intuit Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Sage Group plc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Viewpoint, inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Xero Limited
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Construction Accounting Software Market Revenue and Forecasts to 2027 (US$ Million)
Table 2. Europe Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 3. Germany Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 4. Germany Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 5. Germany Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 6. Germany Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 7. France Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 8. France Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 9. France Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. France Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 11. Italy Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 12. Italy Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 13. Italy Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 14. Italy Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 15. UK Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 16. UK Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 17. UK Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. UK Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 19. Russia Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 20. Russia Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 21. Russia Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 22. Russia Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of Europe Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 24. Rest of EU Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 25. Rest of Europe Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 26. Rest of Europe Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 27. Europe Construction Accounting Software Market: List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Construction Accounting Software Market Segmentation
Figure 2. Europe Construction Accounting Software Market Segmentation – By Country
Figure 3. Europe Construction Accounting Software Market Overview
Figure 4. Cloud-Based Deployment held the Largest Share of Europe Construction Accounting Software Market
Figure 5. Large Enterprises Segment held the Largest Share of Europe Construction Accounting Software Market
Figure 6. Rest of Europe held the Largest Share of Europe Construction Accounting Software Market
Figure 7. Solution Segment held the Largest Share of Europe Construction Accounting Software Market
Figure 8. Porter’s Five Forces Analysis
Figure 9. Europe Construction Accounting Software Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. Europe Construction Accounting Software Market: Impact Analysis of Drivers and Restraints
Figure 12. Europe Construction Accounting Software Market Forecast and Analysis, (US$ Million)
Figure 13. Europe Construction Accounting Software Market Breakdown, by Component, 2019 & 2027 (%)
Figure 14. Europe Solution Market Revenue and Forecast to 2027(US$ Million)
Figure 15. Europe Services Market Revenue and Forecast to 2027(US$ Million)
Figure 16. Europe Construction Accounting Software Market Breakdown, by Deployment type, 2019 & 2027 (%)
Figure 17. Europe Cloud Market Revenue and Forecast to 2027(US$ Million)
Figure 18. Europe On-Premise Market Revenue and Forecast to 2027(US$ Mn)
Figure 19. Europe Construction Accounting Software Market Breakdown, by Application, 2019 & 2027 (%)
Figure 20. Europe SMEs Market Revenue and Forecast to 2027(US$ Million)
Figure 21. Europe Large Enterprises Market Revenue and Forecast to 2027(US$ Million)
Figure 22. Europe: Construction Accounting Software Market Revenue Share, By Country (2019 and 2027)
Figure 23. Germany: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. France: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Italy: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. UK: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Russia: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of Europe: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in Europe Country Markets
- Chetu Inc.
- FreshBooks
- Intuit Inc.
- Sage Group plc
- Viewpoint, Inc.
- Xero Limited
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe construction accounting software market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe construction accounting software market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the construction accounting software market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution