Middle East & Africa Cost-Estimating Software Market Forecast to 2031 - Regional Analysis - by Deployment (Cloud and On Premises) and Industry Vertical (Construction Industry, Oil and Gas Industry, Mining Industry, Energy Industry, and Others)

Description

List of Tables

The Middle East & Africa cost-estimating software market was valued at US$ 111.99 million in 2023 and is expected to reach US$ 179.51 million by 2031; it is estimated to register a CAGR of 6.1% from 2023 to 2031.

Integration of Augmented Reality and Virtual Reality for Cost Visualization Bolsters Middle East & Africa Cost-Estimating Software Market

Virtual reality (VR) and augmented reality (AR) have the potential to revolutionize cost visualization. VR enables contractors to tour every corner of a construction site in detail and provides project managers, architects, and other stakeholders with a spatial framework for visualizing costs. Furthermore, compared to 2D drawings, VR offers a more accurate portrayal of complex projects. Stakeholders can view the scale, proportions, and spatial linkages. Teams can also interact remotely, debating cost implications while virtually on-site. Additionally, the technology helps prevent costly surprises during construction by helping to identify cost issues early on (such as clashes and design errors).

Similarly, AR can superimpose cost-related data on tangible things. For example, while on the job site, an engineer wearing AR glasses can view labor rates, material pricing, and project progress. Additionally, AR can identify areas that require repair, provide cost estimates, and recommend maintenance programs during a building inspection. Furthermore, on-site workers can access cost data hands-free, increasing efficiency. AR guidance technicians may also aid with maintenance and repairs, minimizing downtime and costs. A paradigm shift may be possible with the incorporation of VR and AR into cost visualization. It can empower decision-makers, improve teamwork, and result in better-informed cost management. Thus, the integration of AR and VR for cost visualization is expected to boost the growth of the cost-estimating software market.

Middle East & Africa Cost-Estimating Software Market Overview

According to the World Economic Forum, the countries in the Middle East are actively participating in ambitious economic diversification strategies to decrease dependency on oil and gas as they embrace the digital revolution. The region is also benefited by a young workforce who are skilled in technology, along with high rates of internet and mobile device usage. The governments in the region are supporting their technology workforce by providing specialized training and helping individuals enhance their skills to stay up-to-date in the job market. All of these factors are expected to boost the adoption of cost-estimating software in the Middle East & Africa. Similarly, in South & Central America, the World Bank introduced the Digital Economy for Latin America (DE4LAC), which utilizes the diagnostic framework previously created for the Digital Economy for Africa initiative. Its goal is to help national leaders pinpoint potential reforms and investment chances that can speed up the shift to a more inclusive digital economy.

Middle East & Africa Cost-Estimating Software Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Cost-Estimating Software Market Segmentation

The Middle East & Africa cost-estimating software market is categorized into deployment, industry vertical, and country.

Based on deployment, the Middle East & Africa cost-estimating software market is bifurcated into cloud and on premises. The cloud segment held a larger Middle East & Africa cost-estimating software market share in 2023.

In terms of industry vertical, the Middle East & Africa cost-estimating software market is segmented into construction industry, oil and gas industry, mining industry, energy industry, others. The construction industry segment held the largest Middle East & Africa cost-estimating software market share in 2023.

By country, the Middle East & Africa cost-estimating software market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa cost-estimating software market share in 2023.

Salesforce Inc, Oracle Corp, Sage Group Plc, Trimble Inc, Procore Technologies Inc, Autodesk Inc, RIB Software, Siemens AG, SLB, and S&P Global Inc. are some of the leading companies operating in Middle East & Africa cost-estimating software market.

Product Code: BMIRE00031339

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Middle East & Africa Cost-Estimating Software Market Landscape

4.1 Overview
- 4.1.1 Software Providers:
- 4.1.2 System Integrators:
- 4.1.3 End-Users:
- 4.1.4 List of Vendors in the Value Chain

5. Middle East & Africa Cost-Estimating Software Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Use of Cost-Estimating Software in Project Management
- 5.1.2 Growing Adoption of Cloud Computing
5.2 Market Restraints
- 5.2.1 Lack of Skilled Professionals
5.3 Market Opportunities
- 5.3.1 Integration of Artificial Intelligence and Machine Learning
- 5.3.2 Expansion of Construction Industry
5.4 Market Trends
- 5.4.1 Integration of Augmented Reality and Virtual Reality for Cost Visualization
- 5.4.2 Rise in Demand for Blockchain Technology
5.5 Impact of Drivers and Restraints:

6. Cost-Estimating Software Market - Middle East & Africa Analysis

6.1 Middle East & Africa Cost-Estimating Software Market Revenue (US$ Million), 2021-2031
6.2 Middle East & Africa Cost-Estimating Software Market Forecast Analysis

7. Middle East & Africa Cost-Estimating Software Market Analysis - by Deployment

7.1 Cloud
- 7.1.1 Overview
- 7.1.2 Cloud: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
7.2 On Premises
- 7.2.1 Overview
- 7.2.2 On Premises: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)

8. Middle East & Africa Cost-Estimating Software Market Analysis - by Industry Vertical

8.1 Construction Industry
- 8.1.1 Overview
- 8.1.2 Construction Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Oil and Gas Industry
- 8.2.1 Overview
- 8.2.2 Oil and Gas Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Mining Industry
- 8.3.1 Overview
- 8.3.2 Mining Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Energy Industry
- 8.4.1 Overview
- 8.4.2 Energy Industry: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)

9. Middle East & Africa Cost-Estimating Software Market - Country Analysis

9.1 Middle East & Africa
- 9.1.1 Middle East & Africa Cost-Estimating Software Market Overview
- 9.1.2 Middle East & Africa: Cost-Estimating Software Market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 9.1.2.1 Middle East & Africa: Cost-Estimating Software Market - Revenue and Forecast Analysis - by Country
  - 9.1.2.2 Saudi Arabia: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.2.1 Saudi Arabia: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.1.2.2.2 Saudi Arabia: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.1.2.3 United Arab Emirates: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.3.1 United Arab Emirates: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.1.2.3.2 United Arab Emirates: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.1.2.4 South Africa: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.4.1 South Africa: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.1.2.4.2 South Africa: Cost-Estimating Software Market Breakdown, by Industry Vertical
  - 9.1.2.5 Rest of Middle East & Africa: Cost-Estimating Software Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.2.5.1 Rest of Middle East & Africa: Cost-Estimating Software Market Breakdown, by Deployment
    - 9.1.2.5.2 Rest of Middle East & Africa: Cost-Estimating Software Market Breakdown, by Industry Vertical

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Collaboration, Merger and Acquisition
11.4 Product News & Company News

12. Company Profiles

12.1 Salesforce Inc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Oracle Corp
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Sage Group Plc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Trimble Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Procore Technologies Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Autodesk Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 RIB Software
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Siemens AG
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 SLB
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 S&P Global Inc.
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 Word Index
13.2 About The Insight Partners