Global Construction Loan Management Software Market Overview:
Financial services firms may use construction loan management software to help them source and service construction loans. For both commercial and residential projects, these solutions handle the entire construction financing process from start to finish. Lenders use construction loan management software to streamline the loan origination and servicing processes, reduce risk, and integrate all construction loan operations into one framework. Construction loan management software includes, but is not limited to, loan pipeline management, inventory monitoring, budget tracking, interest reporting, online borrower portal, and project reporting. Construction loan management software is designed to give lenders complete insight into their construction loan portfolios while also allowing borrowers and lenders to communicate more easily. In addition to construction-specific capabilities, construction loan management software has the same features as loan origination and loan servicing software.
- Rising adoption of loan management software among the end user due to the easy access to solutions
- Increasing Investments in Infrastructure Development
- Lack of Awareness and Low Adoption Rate in Underdeveloped and Developing Nations
- Increase in Real Estate Developments in the Middle East Region
- Tremendous Growth of Smart Building Construction across the World
- Scarcity of Skilled Labour in Various Geographic Regions
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Some of the key players profiled in the report are Land Gorilla (United States), DrawTrak (United States), BankLabs (United States), Built Technologies (United States), Data Select Systems (United States), Weston & Muir (United States), CrediFi (United States), Fiserv (United States) and ECL Software (United States). Additionally, following companies can also be profiled that are part of our coverage like Zoot Enterprises (United States), Dynamic Interface Systems (United States), ISGN (United States) and nCino (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Construction Loan Management Software market by 2026. Considering Market by Function, the sub-segment i.e. Loan Pipeline Management will boost the Construction Loan Management Software market. Considering Market by Deployment Model, the sub-segment i.e. On-Premise will boost the Construction Loan Management Software market.
In Oct 2020, Built, the leader in construction finance software, has integrated its platform into the nCino Bank Operating System. This integration simplifies and automates the construction loan management process while providing a convenient digital experience for construction borrowers., and In Sept 2019 – Land Gorilla announced the launch of a revolutionary new feature to construction loan management software, the Automated Project Manager.
What Can be Explored with the Construction Loan Management Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Construction Loan Management Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Construction Loan Management Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Construction Loan Management Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Construction Loan Management Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Construction Software Providers, Construction Industry, Small, Medium and Large Organisations, Industry Association, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Construction Loan Management Software Market?
The Construction Loan Management Software market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Construction Loan Management Software Market?
Top performing companies in the Global Construction Loan Management Software market are Land Gorilla (United States), DrawTrak (United States), BankLabs (United States), Built Technologies (United States), Data Select Systems (United States), Weston & Muir (United States), CrediFi (United States), Fiserv (United States) and ECL Software (United States), to name a few.
3. What trending factors would impact Construction Loan Management Software Market growth most?
"Integration of Artificial Intelligence (AI) into loan management software" is seen as one of major influencing trends for Construction Loan Management Software Market during projected period 2020-2026.