Due to the global pandemic crisis caused by the novel coronavirus (COVID-19), the construction industry in the United States lost about 975,000 jobs in April 2020 as a result of lower demand. This number represents about 13 percent of the country's construction workforce.

GlobalData expects the construction industry to contract by 6.5% in 2020, with a further downward revision likely if activity in the short-term is more severely disrupted than currently anticipated. Read More

Survey data from construction workers in West Java conducted in November and December 2020. Data on employment, wages, benefits, project type and value, mode of transport, supplementary incomes, work hours, health protocols, workers' preference, and impact of COVID on the workers.

The Australian construction sector continues to struggle amid supply chain disruptions and household relocations

GlobalData expects the construction industry to contract by 2.5% in 2020, with the high likelihood of downward revision in the short-term if activity is more severely disrupted than currently anticipated. Read More

According to a survey conducted from June 29 to July 8 in 2020, more than **** percent of business enterprises in the Japanese construction industry stated that they already experienced an impact of the coronavirus (COVID-19) on their corporate activities. When compared to the last survey, the ratio of affected companies decreased by close to *** percent.

Singapore's construction sector was expected to contract by **** percent in 2020, as a result of the COVID-19 pandemic. The buildings construction sector was forecasted to contract by **** percent in that year. The decrease in foreign direct investments due to a weakened global economy and business sentiment has especially affected this sector.

The impact of the crisis caused by the coronavirus pandemic is still not visible in the construction industry in Poland. Of all types of buildings, only commercial buildings, e.g., office buildings, have seen their production fall by 20 percent year-on-year. For engineering structures, the least affected were those financed from EU funds. Local government investments, such as sports and leisure facilities, achieved a significant drop in production compared to March 2018.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

GlobalData expects the construction industry to contract by 6% in 2020, with the high likelihood of further cuts if activity in the short-term is more severely disrupted than currently anticipated. Read More

In Sweden, the COVID-19 pandemic had the most negative effect on the construction sector, according to the surveyed companies. Three quarters of the companies in this sector responded that the pandemic had a negative impact on their business. On the other hand, almost ********** of the companies in retail and trade said that COVID-19 had a positive impact on their business. In total, a little less than 50 percent responded that the pandemic had a negative effect on their business.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

The gross domestic product (GDP) of Mexico's construction sector amounted to well over ********** Mexican pesos in the last quarter of 2022. Between 2019 and 2020, the size of the construction sector in Mexico started to decrease, only to reach its lowest value in the second quarter of 2020. That important drop in size during that quarter coincided with the start of the COVID-19 pandemic.

One of the expected impacts of the coronavirus (COVID-19) that brought the world to a halt in the first quarter of 2020 is the disruption to normal business activities and supply chains. The effect spreads through various industries and with the assumption of a ********* delay in construction activities, the forecast suggests property completions planned for 2020 in cities in the United Kingdom (UK) could decrease by more than *********, leading up to more completions in 2021 than originally planned. For more information on the Statista coverage of the coronavirus in the UK, see our report.

GlobalData expects the construction industry to contract by 1.1% in 2020. Although there will be a recovery in 2021, construction output value in real terms will not return to the 2017 highs until 2022. Read More

In 2019, about *** million persons worked at private enterprises or self-employed contractors in Jiangsu's construction industry. In total, more than ** million persons worked in the construction sector in China. The sector experienced a slight downturn in response to the outbreak of COVID-19, but was able to recover later in the year.

Effective policy responses to urgent situations such as the COVID-19 pandemic are critical for the construction industry to increase its resilience. Therefore, it is essential to understand the underlying correlation mechanisms that determine spatiotemporal response efficiency. This study investigates the efficiency of policy implementation involving public emergency prevention and control of construction costs.A survey was conducted to collect responses during a representative period of the COVID-19 pandemic (Q1 2020 - Q3 2022) across 31 provinces in China. The data analysis employed a Zero-inflated Poisson regression model to explore efficiency mechanisms in five dimensions. The findings suggest that policy-response efficiency follows a 'U' shaped trend over time. Furthermore, the absolute construction scale was not significantly associated with response efficiency, whereas the relative scale hindered its improvement. The younger age of key leaders in housing and construction departments has a positive effect, although its impact is small. Local fiscal extractive capacity is not a key factor influencing response efficiency, but higher fiscal allocation capacity reduces its level. A higher recovery capacity from public emergencies is the main driver for the improvement of response efficiency, while the severity of public emergencies has the opposite effect. Finally, the study observes that vertical hierarchical pressure is not conducive to response efficiency, and pressure from neighboring provinces plays a minor role. These findings provide valuable insights for improving the response efficiency of the construction industry to emergencies.

According to Cognitive Market Research, the global Construction market size is USD 12415.3 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 4966.12 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 3724.59 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2855.52 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 620.77 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 248.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The General Construction held the highest Construction market revenue share in 2024

Market Dynamics of Construction Market

Key Drivers for Construction Market

Urbanization and Population Growth to Increase the Demand Globally

Urbanization and population increase are riding huge demand for new housing, industrial homes, and infrastructure worldwide. With extra human beings shifting to urban regions, cities are under stress to amplify and upgrade their infrastructure to meet the desires of growing populations. This consists of constructing new residential buildings, commercial areas, transportation networks, and utilities which include water and electricity systems. Additionally, urbanization spurs calls for amenities like schools, hospitals, and leisure facilities. Meeting those demands calls for massive construction and improvement projects, imparting opportunities for the construction industry whilst additionally posing demanding situations related to sustainability, useful resource control, and concrete planning.

Economic Growth to Propel Market Growth

Strong economic situations, especially in developing economies, drive multiplied investments in infrastructure tasks, public buildings, and personal development. Robust monetary growth stimulates the call for modernization and growth of transportation networks, utilities, and industrial spaces. Governments allocate finances to enhance public services and construct colleges, hospitals, and government homes, even as private investors capitalize on possibilities in actual property and commercial improvement. This financial momentum fosters innovation, process creation, and business growth, similarly fueling a boom throughout various sectors. Additionally, infrastructure investments enhance productivity, entice overseas investment, and enhance residing standards, contributing to sustained monetary improvement. As a result, financial increase acts as a catalyst for infrastructure improvement, using development and prosperity in each advanced and developing economy.

Restraint Factor for the Construction Market

Volatility in Material Prices to Limit the Sales

Volatility in material fees poses a tremendous mission for the construction industry, wherein raw substances are vital additives. Fluctuations inside the charges of substances, including steel, cement, lumber, and petroleum merchandise, can profoundly have an effect on task budgets and profitability. Sudden spikes in costs can purpose value overruns, delays, and reduced margins for contractors and developers. These fluctuations are motivated by elements like worldwide delivery and call for dynamics, geopolitical tensions, and forex fluctuations. To mitigate dangers, production companies often rent strategies such as ahead buying contracts, diversification of providers, and hedging in opposition to price fluctuations. Nonetheless, navigating this volatility stays a continual assignment inside the creation quarter, requiring careful tracking and adaptation to ensure venture viability and profitability.

Impact of Covid-19 on the Construction Market

The COVID-19 pandemic has drastically impacted the development marketplace globally. Lockdown measures, supply chain disruptions, and labor shortages have led to assignment delays and extended costs. Many construction websites were quickly shut down, causing a slowdo...

Construction Cloud Market Outlook

According to our latest research, the global Construction Cloud market size in 2024 stands at USD 8.3 billion, reflecting a robust digital transformation across the construction sector. The market is anticipated to grow at an impressive CAGR of 14.1% from 2025 to 2033, reaching a projected value of USD 25.5 billion by 2033. This growth is primarily fueled by increasing demand for real-time collaboration, project transparency, and cost efficiency within the construction industry, as well as the need to manage complex projects across geographically dispersed teams. As per our latest research, the adoption of cloud-based solutions is reshaping how construction projects are planned, executed, and delivered globally.

The primary growth factor driving the Construction Cloud market is the rapid digitalization of the construction industry, which has traditionally lagged in technology adoption compared to other sectors. As construction projects become more complex and distributed, stakeholders increasingly require integrated platforms to streamline workflows, enhance collaboration, and improve project visibility. Cloud-based solutions offer a centralized data repository, enabling seamless information sharing among contractors, architects, engineers, and clients. This not only minimizes errors and rework but also accelerates decision-making processes. Additionally, the increasing integration of Building Information Modeling (BIM) and Internet of Things (IoT) devices with cloud platforms further enhances data-driven insights, leading to improved project outcomes and reduced operational costs.

Another significant growth driver is the rising emphasis on cost optimization and risk management within construction projects. The cloud provides scalable resources, allowing construction firms to avoid heavy upfront investments in IT infrastructure while benefiting from flexible subscription-based models. This financial agility is especially valuable for small and medium enterprises (SMEs), enabling them to compete with larger players by accessing advanced project management and analytics tools. Furthermore, cloud-based solutions facilitate real-time monitoring of project progress, enabling early identification and mitigation of risks such as budget overruns, safety incidents, and compliance issues. As regulatory requirements become more stringent and clients demand greater accountability, the Construction Cloud market is expected to witness sustained adoption.

The ongoing shift towards remote and hybrid work models has also accelerated the adoption of cloud solutions in the construction sector. The COVID-19 pandemic underscored the importance of digital platforms for maintaining business continuity, as on-site restrictions necessitated remote project oversight and collaboration. Construction Cloud platforms enable teams to access project data, communicate updates, and manage tasks from any location, ensuring uninterrupted workflow even in challenging circumstances. This flexibility is becoming a standard expectation, driving further investment in cloud-based construction management tools. As the industry continues to embrace digital transformation, the Construction Cloud market is poised for significant expansion in the coming years.

From a regional perspective, North America currently dominates the Construction Cloud market due to its advanced infrastructure, high adoption of digital technologies, and presence of major industry players. Europe follows closely, driven by government initiatives promoting smart construction and sustainability. The Asia Pacific region is emerging as a high-growth market, fueled by rapid urbanization, increasing infrastructure investments, and a growing focus on efficiency and quality in construction practices. Latin America and the Middle East & Africa are also experiencing gradual adoption, supported by modernization efforts and international collaborations. Each region presents unique opportunities and challenges, shaping the overall trajectory of the global Construction Cloud market.

The construction output of in Great Britain has been growing between 2021 and 2024. After a strong recovery from the COVID-19 pandemic, which had a big impact in the industry, the growth of the construction output has been decelerating.

GlobalData expects the construction industry to grow by 3.2% in 2020, but there is a possibility of downward revisions if activity in the short-term is more severely disrupted than currently anticipated. Read More

Construction Progress Monitoring Software Market Outlook

According to our latest research, the global construction progress monitoring software market size reached USD 1.47 billion in 2024, reflecting a robust demand for digital construction solutions worldwide. The market is poised for significant growth, projected to reach USD 4.12 billion by 2033, expanding at a remarkable CAGR of 12.2% from 2025 to 2033. This growth is primarily driven by the increasing adoption of digital tools in the construction industry to enhance project visibility, minimize delays, and improve overall productivity.

A major growth factor for the construction progress monitoring software market is the rising complexity of large-scale construction projects, which necessitates real-time tracking, documentation, and collaboration among stakeholders. As construction projects become more intricate, involving numerous subcontractors, suppliers, and regulatory requirements, the need for robust progress monitoring solutions has intensified. These software platforms provide centralized dashboards, automated reporting, and instant communication channels, enabling project managers and stakeholders to make data-driven decisions and quickly address bottlenecks. The integration of advanced technologies such as artificial intelligence, machine learning, and Internet of Things (IoT) sensors further enhances the capabilities of these platforms, allowing for predictive analytics and proactive risk management, which significantly reduces project overruns and cost escalations.

Another significant driver is the growing emphasis on transparency and accountability in the construction sector. Governments and regulatory bodies across the globe are mandating stricter compliance, documentation, and reporting standards for construction projects. This has led to a surge in demand for construction progress monitoring software that can automate compliance tracking, generate audit-ready reports, and ensure adherence to safety and quality standards. Additionally, the increasing adoption of Building Information Modeling (BIM) and digital twin technologies is fueling the need for integrated progress monitoring tools that can seamlessly interface with other construction management systems. This holistic approach not only streamlines workflows but also enables real-time visualization of project status, fostering better collaboration and reducing the risk of disputes.

The acceleration of digital transformation in the construction industry, spurred by the COVID-19 pandemic, has further contributed to market growth. Remote work requirements and social distancing protocols have necessitated the adoption of cloud-based construction progress monitoring software, allowing teams to access project data, collaborate, and monitor site activities from anywhere. This shift has not only improved operational efficiency but also expanded the market to include small and medium enterprises (SMEs) that previously relied on manual tracking methods. The increasing availability of affordable, scalable software solutions tailored to the unique needs of different end-users—such as contractors, owners, architects, and engineers—has democratized access to advanced progress monitoring tools, fueling widespread adoption across the industry.

From a regional perspective, North America continues to dominate the construction progress monitoring software market, accounting for the largest revenue share in 2024, followed closely by Europe and Asia Pacific. The high adoption rate in North America can be attributed to the presence of leading technology providers, a mature construction industry, and stringent regulatory requirements. Meanwhile, Asia Pacific is witnessing the fastest growth, driven by rapid urbanization, infrastructure development, and increasing investments in smart city projects. The Middle East & Africa and Latin America are also experiencing steady growth, supported by government initiatives to modernize construction practices and improve project delivery outcomes.

Component Analysis

The construction progress monitoring software market is segmented by component into software and services, each playing a pivotal role in driving digital transformation within the construction sector. The software segment holds the largest market share due to the increasing demand for comprehensive platforms that offer real-time tracking, automated documentation, and advanc