Increase in the use of AR/VR technologies and growing adoption of BIM to design green buildings is expected to drive the market growth in upcoming years.
The global building information modelling (BIM) market size is projected to reach nearly USD 10,700 .15 million by 2028. Building information modelling (BIM) market is expected to grow at a CAGR of above 14% during the forecast period. Growing developments in applied technologies have resulted in the increasing introduction of imaginative alternatives to the working conditions of the building industry this factor is expected to drive the market growth for BIM (Building information Modelling).
BIM, which offers benefits such as visualization and collaboration, synchronization of design and construction planning, conflict detection, and cost reduction is poised to drive the market growth. As demographics and economies expand, the demand for housing and infrastructure are expected to drive the development of the global construction industry, which in turn is poised to raise the demand for BIM. There will be a stronger need for effective techniques to work for an increase in construction. BIM offers architects, engineers, and construction professionals the opportunity to plan, design, and execute building projects more effectively.
The report outlines the different statistics of the global building information modelling (BIM) industry by evaluating the market through study of the value chain. In order to have access, to the market study for building information modelling (BIM) includes various qualitative components of the building information modelling (BIM) industry in market restraints, essential industry drivers, and opportunities.
Among the already well-known and new industry players, the building information modelling (BIM) industry has great competition. In particular, the players in the building information modelling (BIM) industry concentrate on new product releases to be competitive and lead among other players in the industry, as well as on agreements, acquisition of other businesses and the development of new alliances and partnerships.
Moreover, BIM is gaining popularity. There is a smaller degree of digitization in the building sector than in other sectors. Productivity of up to 20 percent can be achieved with the assistance of BIM by streamlining processes by shorter development times, improved efficiency, and lower costs. Furthermore, The software sector, by type was mainly dominated by architecture and construction software, holds the largest share of the BIM market. Additionally, features such as interoperability between systems, simple visualization, and cost-effectiveness are demonstrated in the software used by BIM.
In the building information modeling (BIM) market sector, Asia Pacific is projected to be the fastest growing market. Emerging-economy governments such as China and India are now gradually lifting the lockdown to launch manufacturing and construction operations to boost the region's economy. As a consequence, infrastructure planning projects such as the India Smart City Project are set to restart again due to the potential increase in demand for knowledge modeling tools to be built. Additionally, as the US is home to numerous tier 1 firms and is at the forefront of introducing innovative digital infrastructure systems, the US is projected to dominate the North American BIM industry. BIM technical solutions, such as architectural modeling and development, are widely used by end users in North America to plan, design and install a particular construction facility.
The major players of the global building information modelling (BIM) market include Pentagon Solutions Ltd., Tekla Corporation, Synchro Software Ltd., AECOM, Autodesk Inc. GRAITEC Dassault Systemes SA, Trimble Inc, & Archidata Inc Beck Technology Ltd. Bentley Systems Inc., Nemetschek AG. Additionally, organizations are focused on engaging in R&D programmes to deliver new products in the market to meet the expectations of rapidly changing end-user needs
Segment Overview of Global Building Information Modelling (BIM) Market
Product Type Overview, 2018-2028 (USD Million)
o Software Support and Maintenance
o Project Management and Support.
o Architectural Design
o Facility Management
Application Overview, 2018-2028 (USD Million)
- Oil& Gas
- Civil Infrastructure
End-user Overview, 2018-2028 (USD Million)
- Facility Managers
- AEC (Architect Engineering & Construction) Professionals
Regional Overview, 2018-2028 (USD Million)
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa
• South America
o Rest of South America