North America 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 North America is expected to grow from US$ 208.31 million in 2019 to US$ 273.41 million by 2027; it is estimated to grow at a CAGR of 3.9% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Construction industry is flourishing and has witnessed growth in recent years which is driving the North America construction accounting software market in a positive way. The start of 2020 has been an unfavorable one for the construction industry. The COVID-19 pandemic inevitably lead to a poor first quarter of activity for the industry. The third quarter of 2020 likely saw an upturn in construction activity. Still, projects in this sector overall for the last quarter will be dependent upon the extent to which the pandemic impacts upon sub-contractors and suppliers in the supply chain. The construction industry's growth is maximum in the US. The majority of the construction is inclined toward the technology sector, followed by the healthcare sector. The US stands at the forefront and dominates the construction ecosystem; however, Canada and Mexico also reflects tremendous growth. The availability of easy funding and the demand for advanced technology results in the rise in the number of construction projects in these countries. From the North America perspective, US account for the majority share in terms of constructions. Canada has witnessed substantial growth in the number of construction projects recently due to the urban areas and roads' growth. The continuous rise in the number of construction projects in the country generates significant demand for software-based accounting services. These factors are driving the development of the construction accounting software market, which is further anticipated to drive the market in North America.
Further, the ongoing COVID-19 is having a very devastating impact over the North America region. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructure capabilities, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner including the construction accounting software market. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. The US is a prominent market for accounting software, especially in the construction sector. The huge increase in the number of confirmed cases and rising reported deaths in the country has affected construction industry significantly. The large as well as small construction projects had shut down across the US, Canada, and Mexico in last few months and the construction companies have reduced their spending on ad-hoc technologies such as accounting software, which in turn, is impacting the growth of the construction accounting software market in the present scenario. However, the construction projects have rapidly increased their productivity, which in turn is anticipated to have positive impact from the next few months. North America region is home to a large number of technology companies, and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging construction accounting software markets. This factor is likely to drive the North America construction accounting software market. The North America construction accounting software market is expected to grow at a good CAGR during the forecast period.
North America Construction Accounting Software Market
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North America Construction Accounting Software Market Segmentation
North America Construction Accounting Software Market – By Component
- Solutions
- Services
North America Construction Accounting Software Market – By Deployment Type
- Cloud
- On-Premises
North America Construction Accounting Software Market – By Application
- SMEs
- Large Enterprises
North America Construction Accounting Software Market, by Country
- US
- Canada
- Mexico
North America Construction Accounting Software Market - Companies Mentioned
- Acclivity Group LLC.
- Chetu Inc.
- CMiC
- Foundation Software, Inc.
- FreshBooks
- Intuit Inc.
- Jonas Construction Software 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 North America Construction Accounting Software Market – By Component
1.3.2 North America Construction Accounting Software Market – By Deployment
1.3.3 North America Construction Accounting Software Market – By Application
1.3.4 North America Construction Accounting Software Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America 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. North America Construction Accounting Software – Key Market Dynamics
5.1 Drivers
5.1.1 Flourishing Construction Industry
5.1.2 Construction Industry Witnessing Growing Approach of ERP modules
5.2 Restraints
5.2.1 Greater Reliability on Old Accounting Tools
5.3 Market Opportunities
5.3.1 Developing Countries Getting Acknowledged
5.4 Future Trends
5.4.1 Data Security Advancement to Avert Data Loss
5.5 Impact Analysis of Drivers and Restraints
6. Construction Accounting Software Market – North America Market Analysis
6.1 Construction Accounting Software Market North America Overview
6.2 North America Construction Accounting Software Market Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. North America Construction Accounting Software Market Analysis – By Component
7.1 Overview
7.2 North America 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 North America: Construction Accounting Software Market, By Services
8. North America Construction Accounting Software Market Analysis – By Deployment Type
8.1 Overview
8.2 North America 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. North America Construction Accounting Software Market Analysis – By Application
9.1 Overview
9.2 North America 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. North America Construction Accounting Software Market – Country Analysis
10.1 Overview
10.1.1 North America: Construction Accounting Software Market , by Key Country
10.1.1.1 US: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Construction Accounting Software Market , by Component
10.1.1.1.2 US: Construction Accounting Software Market , By Deployment Type
10.1.1.1.3 US: Construction Accounting Software Market , By Application
10.1.1.2 Canada: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Construction Accounting Software Market , by Component
10.1.1.2.1.1 Canada: Construction Accounting Software Market, By Services
10.1.1.2.2 Canada: Construction Accounting Software Market , By Deployment Type
10.1.1.2.3 Canada: Construction Accounting Software Market , By Application
10.1.1.3 Mexico: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Construction Accounting Software Market , by Component
10.1.1.3.1.1 Mexico: Construction Accounting Software Market, By Services
10.1.1.3.2 Mexico: Construction Accounting Software Market , By Deployment Type
10.1.1.3.3 Mexico: Construction Accounting Software Market , By Application
11. North America Construction Accounting Software Market- COVID-19 Impact Analysis
11.1 North America
12. Industry Landscape
12.1 Mergers and Acquisitions
13. Company Profiles
13.1 Acclivity Group LLC
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 Chetu Inc
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 CMiC
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 Foundation software inc
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 FreshBooks
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 Intuit Inc.
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
13.7 Jonas construction software
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Sage Group plc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Viewpoint, inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Xero Limited
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Construction Accounting Software Market Revenue and Forecasts to 2027 (US$ Million)
Table 2. North America Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 3. US Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 4. US: Construction Accounting Software Market , By Deployment Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Construction Accounting Software Market , By Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Construction Accounting Software Market , by Component –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Construction Accounting Software Market, By Services – Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Construction Accounting Software Market , By Deployment Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Construction Accounting Software Market , By Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: Construction Accounting Software Market , by Component –Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico: Construction Accounting Software Market, By Services – Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Construction Accounting Software Market , By Deployment Type –Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Construction Accounting Software Market , By Application –Revenue and Forecast to 2027 (US$ Million)
Table 14. North America Construction Accounting Software Market: List of Abbreviation
LIST OF FIGURES
Figure 1. North America Construction Accounting Software Market Segmentation
Figure 2. North America Construction Accounting Software Market Segmentation – By Country
Figure 3. North America Construction Accounting Software Market Overview
Figure 4. Cloud-Based Deployment held the Largest Share of North America Construction Accounting Software Market
Figure 5. Large Enterprises Segment held the Largest Share of North America Construction Accounting Software Market
Figure 6. US held the Largest Share of North America Construction Accounting Software Market
Figure 7. Solution Segment held the Largest Share of North America Construction Accounting Software Market
Figure 8. Porter’s Five Forces Analysis
Figure 9. North America Construction Accounting Software Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Construction Accounting Software Market: Impact Analysis of Drivers and Restraints
Figure 12. North America Construction Accounting Software Market Forecast and Analysis, (US$ Million)
Figure 13. North America Construction Accounting Software Market Breakdown, by Component, 2019 & 2027 (%)
Figure 14. North America Solution Market Revenue and Forecast to 2027(US$ Million)
Figure 15. North America Services Market Revenue and Forecast to 2027(US$ Million)
Figure 16. North America Construction Accounting Software Market Breakdown, by Deployment type, 2019 & 2027 (%)
Figure 17. North America Cloud Market Revenue and Forecast to 2027(US$ Million)
Figure 18. North America On-Premise Market Revenue and Forecast to 2027(US$ Million)
Figure 19. North America Construction Accounting Software Market Breakdown, by Application, 2019 & 2027 (%)
Figure 20. North America SMEs Market Revenue and Forecast to 2027(US$ Million)
Figure 21. North America Large Enterprises Market Revenue and Forecast to 2027(US$ Million)
Figure 22. North America: Construction Accounting Software Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: Construction Accounting Software Market – Revenue and Forecast To 2027 (US$ Million)
Figure 24. Canada: Construction Accounting Software Market – Revenue and Forecast To 2027 (US$ Million)
Figure 25. Mexico: Construction Accounting Software Market – Revenue and Forecast To 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
- Acclivity Group LLC.
- Chetu Inc.
- CMiC
- Foundation Software, Inc.
- FreshBooks
- Intuit Inc.
- Jonas Construction Software 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 North America 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 North America 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 North America 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