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Building projects have never been easy. Before project managers, engineers, and construction teams understood the importance of collaboration, coordination, and communication, projects were riddled with bottlenecks, budgets were rarely met, and project delivery often took years to complete.
Today, with project managers, engineers, and construction teams empowered to work smarter, the construction industry is a completely different place.
INVESTMENT OPPORTUNITY
The Construction Performance and Safety Management (CPSM) market is expected to reach $50 Billion USD by 2025
Leading industry and banking analyst firm, CBRE reports that the Construction Performance and Safety Management market is expected to reach $50 Billion USD by 2025. The market is projected to experience a 7.2% CAGR, a compound annual growth rate, from 2018 to 2025.
The CPSM market is defined by the ability to predict, control, and measure the safety and performance of all construction projects. To do this, the CPSM market segmentation includes:
• The Development of Construction Performance and Safety Management (CPSM) software applications for enhancing safety and performance across all phases of the construction lifecycle
The CPSM market has matured significantly over the past several years. But the development of data-driven construction performance and safety management solutions has made a fundamental shift in the construction management industry.
The CPSM market has become increasingly data-driven and has evolved from traditional project management methods into an innovative process for effectively managing project performance.
Construction teams have been able to leverage advanced analytics to identify trends and uncover insights that drive performance and safety.
The CPSM market is poised to transform construction management practices. Currently, construction teams use the majority of their time and resources on constructing buildings and their teams are only accountable for successful delivery.
CPSM software applications, like CONCERT® or ConCloud® allow construction teams to gain insights into the safety and performance of their projects. These advanced solutions are enabling construction teams to work smarter, faster, and safer.
As this market evolves, expect to see an increase in construction team collaboration, productivity, and innovation.
Learn more about the CPSM market and how SYNCHRO has built a platform for construction teams to work smarter, faster, and safer.
CONCERT® is the leading platform for data-driven, construction performance and safety management software solutions, driven by SYN 3125841983
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