
South & Central America 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
The South & Central America cost-estimating software market was valued at US$ 58.92 million in 2023 and is expected to reach US$ 86.55 million by 2031; it is estimated to register a CAGR of 4.9% from 2023 to 2031.
Integration of Artificial Intelligence and Machine Learning Fuels South & Central America Cost-Estimating Software Market
Traditional cost estimation models frequently rely on manually picked characteristics, which are time-consuming and prone to bias. However, the use of technologies such as artificial intelligence (AI) and machine learning (ML) can considerably improve the precision of cost estimates by providing more accurate projections. Large datasets can be quickly analyzed by AI algorithms. As a result, they spot trends and patterns that human analysts would miss. This feature enables the creation of complex cost projections that take a wide range of variables into consideration. AI systems also constantly learn from fresh data. This implies that as a result of their improving precision over time, estimations become more accurate.
Similarly, machine learning aids in the refinement of projections. Through the use of sophisticated models, ML is able to project expenses in many scenarios. It takes into account a wide range of factors that could affect project costs. For example, the analysis automatically incorporates changes in labor rates or material costs. Because of their flexibility, estimates are guaranteed to stay accurate and relevant even when project conditions alter. Furthermore, the estimations take a lot less time because of AI and ML, which speed up the planning stage and enable more responsive reactions to market changes. Thus, the integration of advanced technologies such as AI and ML is expected to fuel the growth of the cost-estimating software market during the forecast period.
South & Central America Cost-Estimating Software Market Overview
The South America (SAM) cost-estimating software market is segmented into Brazil, Argentina, and the Rest of SAM. The region is highly focused on boosting its oil & gas sector to stay ahead in the global market. As per the International Energy Agency (IEA), expenditure on upstream SAM activities is set to rise due to the huge investment by SAM countries such as Brazil, Argentina, Venezuela, and Colombia. In addition, the increasing oil & gas production in Brazil, Bolivia, Colombia, and Peru is encouraging numerous firms to invest in this sector. In November 2022, Petrobras, a Brazil-based state-held oil firm, announced that it would invest ~US$ 78 billion until 2027 to boost oil production. Thus, the growing oil & gas sector in the region is expected to increase the demand for cost-estimating software.
The region is witnessing a significant rise in construction activities. For instance, in March 2022, Ideal announced that it had started the construction of its new distribution center in Quilicura, Chile. Similarly, in Q2 2023, the construction of Cabo Branco Tourism Complex commenced in Brazil and is expected to finish in Q4 2025. This project will provide enhanced leisure and living facilities for people in the region. Also, in Q2 2023, the construction of Macae Airport Expansion and Modernization started. This project aims to provide enhanced transportation facilities for passengers and is anticipated to be completed in Q4 2025. Thus, the increase in construction projects is expected to fuel the growth of the cost-estimating software market in the region.
South & Central America Cost-Estimating Software Market Revenue and Forecast to 2031 (US$ Million)
South & Central America Cost-Estimating Software Market Segmentation
The South & Central America cost-estimating software market is categorized into deployment, industry vertical, and country.
Based on deployment, the South & Central America cost-estimating software market is bifurcated into cloud and on premises. The cloud segment held a larger South & Central America cost-estimating software market share in 2023.
In terms of industry vertical, the South & Central America 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 South & Central America cost-estimating software market share in 2023.
By country, the South & Central America cost-estimating software market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America cost-estimating software market share in 2023.
Salesforce Inc, Oracle Corp, Sage Group Plc, Trimble Inc, Autodesk Inc, RIB Software, Siemens AG, SLB, and S&P Global Inc. are some of the leading companies operating in South & Central America cost-estimating software market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America cost-estimating 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 South & Central America cost-estimating 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 South & Central America market trends and outlook coupled with the factors driving the South & Central America cost-estimating 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.
Integration of Artificial Intelligence and Machine Learning Fuels South & Central America Cost-Estimating Software Market
Traditional cost estimation models frequently rely on manually picked characteristics, which are time-consuming and prone to bias. However, the use of technologies such as artificial intelligence (AI) and machine learning (ML) can considerably improve the precision of cost estimates by providing more accurate projections. Large datasets can be quickly analyzed by AI algorithms. As a result, they spot trends and patterns that human analysts would miss. This feature enables the creation of complex cost projections that take a wide range of variables into consideration. AI systems also constantly learn from fresh data. This implies that as a result of their improving precision over time, estimations become more accurate.
Similarly, machine learning aids in the refinement of projections. Through the use of sophisticated models, ML is able to project expenses in many scenarios. It takes into account a wide range of factors that could affect project costs. For example, the analysis automatically incorporates changes in labor rates or material costs. Because of their flexibility, estimates are guaranteed to stay accurate and relevant even when project conditions alter. Furthermore, the estimations take a lot less time because of AI and ML, which speed up the planning stage and enable more responsive reactions to market changes. Thus, the integration of advanced technologies such as AI and ML is expected to fuel the growth of the cost-estimating software market during the forecast period.
South & Central America Cost-Estimating Software Market Overview
The South America (SAM) cost-estimating software market is segmented into Brazil, Argentina, and the Rest of SAM. The region is highly focused on boosting its oil & gas sector to stay ahead in the global market. As per the International Energy Agency (IEA), expenditure on upstream SAM activities is set to rise due to the huge investment by SAM countries such as Brazil, Argentina, Venezuela, and Colombia. In addition, the increasing oil & gas production in Brazil, Bolivia, Colombia, and Peru is encouraging numerous firms to invest in this sector. In November 2022, Petrobras, a Brazil-based state-held oil firm, announced that it would invest ~US$ 78 billion until 2027 to boost oil production. Thus, the growing oil & gas sector in the region is expected to increase the demand for cost-estimating software.
The region is witnessing a significant rise in construction activities. For instance, in March 2022, Ideal announced that it had started the construction of its new distribution center in Quilicura, Chile. Similarly, in Q2 2023, the construction of Cabo Branco Tourism Complex commenced in Brazil and is expected to finish in Q4 2025. This project will provide enhanced leisure and living facilities for people in the region. Also, in Q2 2023, the construction of Macae Airport Expansion and Modernization started. This project aims to provide enhanced transportation facilities for passengers and is anticipated to be completed in Q4 2025. Thus, the increase in construction projects is expected to fuel the growth of the cost-estimating software market in the region.
South & Central America Cost-Estimating Software Market Revenue and Forecast to 2031 (US$ Million)
South & Central America Cost-Estimating Software Market Segmentation
The South & Central America cost-estimating software market is categorized into deployment, industry vertical, and country.
Based on deployment, the South & Central America cost-estimating software market is bifurcated into cloud and on premises. The cloud segment held a larger South & Central America cost-estimating software market share in 2023.
In terms of industry vertical, the South & Central America 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 South & Central America cost-estimating software market share in 2023.
By country, the South & Central America cost-estimating software market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America cost-estimating software market share in 2023.
Salesforce Inc, Oracle Corp, Sage Group Plc, Trimble Inc, Autodesk Inc, RIB Software, Siemens AG, SLB, and S&P Global Inc. are some of the leading companies operating in South & Central America cost-estimating software market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America cost-estimating 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 South & Central America cost-estimating 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 South & Central America market trends and outlook coupled with the factors driving the South & Central America cost-estimating 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.
Table of Contents
123 Pages
- 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. South & Central America 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. 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 – South & Central America Market Analysis
- 6.1 South & Central America Cost-Estimating Software Market Revenue (US$ Million), 2021–2031
- 6.2 South & Central America Cost-Estimating Software Market Forecast Analysis
- 7. South & Central America 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. South & Central America 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. South & Central America Cost-Estimating Software Market – Country Analysis
- 9.1 South and Central America
- 9.1.1 South and Central America: Cost-Estimating Software Market Breakdown, by Key Countries, 2023 and 2031 (%)
- 9.1.1.1 South and Central America: Cost-Estimating Software Market – Revenue and Forecast Analysis – by Country
- 9.1.1.2 Brazil: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- 9.1.1.2.1 Brazil: Cost-Estimating Software Market Breakdown, by Deployment
- 9.1.1.2.2 Brazil: Cost-Estimating Software Market Breakdown, by Industry Vertical
- 9.1.1.3 Argentina: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- 9.1.1.3.1 Argentina: Cost-Estimating Software Market Breakdown, by Deployment
- 9.1.1.3.2 Argentina: Cost-Estimating Software Market Breakdown, by Industry Vertical
- 9.1.1.4 Rest of South and Central America: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- 9.1.1.4.1 Rest of South and Central America: Cost-Estimating Software Market Breakdown, by Deployment
- 9.1.1.4.2 Rest of South and Central America: 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 Autodesk 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 RIB Software
- 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 Siemens AG
- 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 SLB
- 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 S&P Global Inc.
- 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
- 13. Appendix
- 13.1 Word Index
- 13.2 About The Insight Partners
- LIST OF TABLES
- Table 1. South & Central America Cost-Estimating Software Market Segmentation
- Table 2. List of Vendors
- Table 3. South & Central America Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Table 4. South & Central America Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
- Table 5. South & Central America Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million) – by Industry Vertical
- Table 6. South and Central America: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million) – by Country
- Table 7. Brazil: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
- Table 8. Brazil: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million) – by Industry Vertical
- Table 9. Argentina: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
- Table 10. Argentina: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million) – by Industry Vertical
- Table 11. Rest of South and Central America: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
- Table 12. Rest of South and Central America: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million) – by Industry Vertical
- Table 13. Company Positioning & Concentration
- Table 14. List of Abbreviation
- LIST OF FIGURES
- Figure 1. South & Central America Cost-Estimating Software Market Segmentation, by Country
- Figure 2. Ecosystem Analysis
- Figure 3. Cost-Estimating Software Market – Key Market Dynamics
- Figure 4. Impact Analysis of Drivers and Restraints
- Figure 5. South & Central America Cost-Estimating Software Market Revenue (US$ Million), 2021–2031
- Figure 6. Cost-Estimating Software Market Share (%) – by Deployment (2023 and 2031)
- Figure 7. Cloud: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 8. On Premises: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 9. South & Central America Cost-Estimating Software Market Share (%) – by Industry Vertical (2023 and 2031)
- Figure 10. Construction Industry: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 11. Oil and Gas Industry: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 12. Mining Industry: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 13. Energy Industry: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 14. Others: Cost-Estimating Software Market – Revenue and Forecast to 2031 (US$ Million)
- Figure 15. South and Central America: Cost-Estimating Software Market Revenue, by Key Countries, (2023) (US$ Mn)
- Figure 16. South and Central America: Cost-Estimating Software Market Breakdown, by Key Countries, 2023 and 2031 (%)
- Figure 17. Brazil: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million)
- Figure 18. Argentina: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million)
- Figure 19. Rest of South and Central America: Cost-Estimating Software Market – Revenue and Forecast to 2031(US$ Million)
- Figure 20. Heat Map Analysis by Key Players
Pricing
Currency Rates
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