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

- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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
Europe Construction Accounting Software Report Scope
Report Attribute | Details |
---|---|
Market size in 2019 | US$ 196.00 Million |
Market Size by 2027 | US$ 269.70 Million |
Global CAGR (2020 - 2027) | 4.6% |
Historical Data | 2017-2018 |
Forecast period | 2020-2027 |
Segments Covered |
By Component
|
Regions and Countries Covered | Europe
|
Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
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- Chetu Inc.
- FreshBooks
- Intuit Inc.
- Sage Group plc
- Viewpoint, Inc.
- Xero Limited


