Building Information Modelling Market: Global Industry Analysis and Forecast (2023 -2029) Trends, Statistics, Dynamics, Segmentation by Offering Type, Deployment Type, End User, Application, and Region

The Global Building Information Modelling Market is worth USD 7.92 Billion in 2022 and is estimated to grow at a CAGR of 13.7% in the forecasted period. The forecasted revenue hints at a growth of around 19.46 billion USD by 2029 Building Information Modeling includes creating and managing digital representations of buildings and infrastructure's physical and functional properties. It involves using digital tools and technology to create and manage information during a building project. Building Information Modeling software and services are projected to grow as more companies realize their benefits in speeding project workflows and boosting decision-making. Additionally, government initiatives in many countries mandating the use of Building Information Modeling in public infrastructure projects have also contributed to the market's growth. Building Information models has significantly improved cooperation, rework, visualization, and project delivery. These benefits have made Building Information Modeling popular in design, engineering, construction, facility management, and many other sectors. The advent of digitization has helped the market grow. Digital technologies are driving the building information modeling industry's expansion. Many Building Information Modeling software companies offer industry-specific solutions. Autodesk, Bentley Systems, Trimble, Nemetschek SE, and Dassault Systems SA are market leaders. Cloud-Based Building Information Modeling systems are providing real-time collaboration and remote data access. Cloud technology's scalability and accessibility will likely continue this trend in the future, making it an even bigger market. VR, AR, and AI are also changing the Building Information Modeling business. These technologies have improved Building Information Modeling model display, validation, clash detection, and sequencing, which has positively benefited the market. Building Information Modeling has grown throughout the world, especially in regions like North America and Europe. The US has been the leading market in the building information modeling industry. The increasing investments in infrastructure development, along with government support for digitalization in the construction industry, are some important factors that have led to this dominance. Asia Pacific is also a growing market and is expected to grow and acquire a larger share of the building information modeling market.Building Information Modeling MarketTo know about the Research Methodology :- Request Free Sample Report

Building Information Modelling Market Dynamics:

Increasing Efficiency is driving the Growth in Building Information Modeling Market The Building Information Modeling Market has been the increasing demand for efficiency. The construction industry is increasingly focusing on improving project delivery processes to reduce costs, minimize errors, and complete projects on time. Building Information Modeling offers enhanced collaboration, coordination, and visualization capabilities, enabling stakeholders to optimize project workflows and streamline the construction process. Building Information Modeling not only saves money but also assists in better design coordination, conflict detection, and quantity take-offs. Building Information Modeling adoption is driven by its ROI. Building Information Modeling improves real-time cooperation and communication between architects, engineers, contractors, and facilities management. The shared digital platform increases cooperation, eliminates disagreements, and improves decision-making for smoother project execution and better results. With advancements in technology, the use of cloud computing, VR, AR, and AI have hugely benefitted the Building Information Modeling business. These technologies have improved Building Information Modeling visualization, simulation, and analysis. Building Information Modeling demand is also rising as infrastructure spending, particularly in emerging nations has grown significantly. Building Information Modeling also helps governments and private investors manage complex infrastructure projects, optimize resource allocation, and maximize project outcomes. Thus, the complex and challenging task for companies becomes a smooth walk through the use of Building Information Modeling. Cost is a Major Challenge in Building Information Modeling Market One of the major challenges in the Building Information Market is increasing costs. Smaller enterprises and organizations with limited resources struggle to deploy BIM due to its initial cost. Software licenses, hardware updates, training, and infrastructure all require a huge amount of cash flow. Thus, this initial cost can become a burden for new companies who are willing to expand the market. Building Information Modeling uses advanced software tools and technologies that might be difficult to master. It needs architects, engineers, contractors, and other project participants to learn certain skills. Technical intricacy might slow learning and demand more practice. This skill not only requires a professional but also requires additional cost. Construction has generally been sluggish to accept new technology and techniques. BIM demands a culture shift and process adjustments, which might cause stakeholders to resist. Overcoming this opposition and establishing a BIM-enabled attitude is difficult. BIM works best when all project stakeholders use it. BIM maturity, standards, and regional acceptance make industry-wide adoption and cooperation difficult. Building Information Modeling encourages project stakeholders to collaborate, yet it can be difficult in big, geographically distant projects, where data transfers, and team communication may be difficult. Cloud Based BIM is driving the Trend in Building Information Modeling Market Cloud-Based BIM has been a major trend in Building Information Modeling market. Collaboration and real-time access to project data from anywhere in the world has changed Building Information Modeling market. Cloud-based BIM systems enable scalability, flexibility, and increased stakeholder communication without requiring expensive on-site infrastructure. This trend has helped in setting up future prospects for the market. The use of Virtual Reality (VR) and Augmented Reality (AR) in BIM is progressively working out for providing immersive visualization and project comprehension. Virtual walkthroughs let stakeholders see conflicts and evaluate design suggestions. This trend increases design review, communication, and early issue detection. AI algorithms develop design possibilities based on parameters and limitations. Using BIM and generative design, architects and engineers can swiftly explore and analyse various design choices for optimal and efficient designs. Integration of IoT devices into BIM models allows real-time data collection from sensors in buildings and infrastructure. IoT-BIM integration improves operational efficiency and sustainability by monitoring building performance, predictive maintenance, and data-driven decision-making. Real-time sensor data is used to create a digital copy of a building or infrastructure. BIM creates precise and complete digital twins of assets. Digital twins improve asset management, predictive maintenance, and performance optimization. Real-time sensor data is used to create a digital copy of a building or infrastructure. Advanced analytics have started its trend in BIM market. Machine learning algorithms can find trends, enhance energy efficiency, forecast maintenance needs, and provide actionable insights from BIM data. This trend helps stakeholders make data-driven decisions, improve project results, and boost-built asset performance.

Building Information Modeling Market Segment Analysis

By Offering Type, Software and Services have been the two major segments in the Building Information Modeling market. The software has been the leading market share as it is a critical component of any Building Information Modeling project. It is used to create, manage, and exchange Building Information Modeling data. As more organizations use the IM, demand for BIM software is rising. Businesses needing help deploying and using Building Information Modeling software are also boosting the services market. In the future years, software is projected to outperform services. By Deployment Type, On–Premises Deployment and Cloud Deployment are two major deployment types in the Building Information Modeling market. The cloud deployment segment has a higher market share than the on-premises deployment segment. Cloud-based Building Information Modeling software has cheaper costs, scalability, and simplicity of use. Businesses are also seeking cloud-based Building Information Modeling software to cut IT expenses and increase cooperation. As some companies want data control, on-premises adoption is projected to expand. Cloud deployment is predicted to rise faster than on-premises implementation. By Application, Buildings, Industrial, Civil, Infrastructure, Oil and Gas and Utilities are the major applications in Building Information Modeling market. Buildings are the leading segment in this market. Buildings are the most common type of construction project, and BIM can be used to improve the efficiency and accuracy of the planning, design, construction, and operation of buildings.Building Information Modeling Market1 Building Information Modeling Market Segmentation, by End User AEC Professionals, Consultants and Facility Managers are the three end users in Buildings Information Modeling market. AEC professionals has a higher market share than the consultants and facility manager’s segment. AEC professionals are the primary users of Building Information Modeling software. They use Building Information Modeling to create, manage, and exchange Building Information Modeling data. The consultants and facility managers segment are also growing, as businesses are increasingly looking for help in implementing and using Building Information Modeling software. However, the AEC professionals’ segment is still expected to have a higher market share than the consultants and facility managers segment in the coming years.

Building Information Modeling Market Regional Insights

The US has been a leading market for BIM, with extensive adoption in the construction industry. Key players and software providers are based in the US, driving innovation and technological advancements in Building Information Modeling Market. BIM adoption in Canada has been growing steadily, with government initiatives promoting its use in public infrastructure projects. The country has a strong focus on sustainable construction practices. The UK has been at the forefront of BIM adoption, with the government mandating BIM implementation in public projects. The country has a well-established BIM ecosystem and a high level of industry collaboration. Asia Pacific is expressing huge growth in BIM market.

Competitive Landscape

The building information modelling market is competitive and dynamic. With companies continuously innovating to meet the evolving needs of the industry. Factors such as product features, integration capabilities, customer support, and pricing models influence the competitive positioning of each company. Autodesk is a dominant player in the BIM market, offering software solutions such as Autodesk Revit and Autodesk BIM 360. The company has a strong market presence and a wide customer base, including architectural, engineering, and construction professionals. Autodesk has been actively investing in research and development to enhance its BIM capabilities and expand its product offerings. Trimble provides comprehensive BIM solutions through its portfolio of software, including Trimble Connect and Tekla Structures. The company focuses on integrating BIM with other technologies like geospatial solutions, enabling seamless data exchange and collaboration. Trimble's BIM solutions cater to various industries, including construction, architecture, and engineering, giving them a competitive edge. Dassault Systems offers BIM solutions through its 3DEXPERIENCE platform, including CATIA and SOLIDWORKS applications. The company leverages its expertise in 3D modeling and simulation to provide comprehensive BIM capabilities. Dassault Systems targets various industries beyond construction, such as aerospace and automotive, providing a unique advantage in cross-industry collaboration.

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Building Information Modeling Market

Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 7.92 Bn.
Forecast Period 2023 to 2029 CAGR: 13.7% Market Size in 2029: US $ 19.46 Bn.
Segments Covered: by Offering Type Software Services
by Deployment Type On – Premises Deployment Cloud Deployment
by Application Buildings Industrial Civil Infrastructure Oil and Gas Utilities
by End-User AEC Professionals Consultants and Facility Managers

Building Information Modeling Market, by Region

North America (United States, Canada, and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Building Information Modeling Key Players

1. Autodesk, Inc. (United States) 2. Bentley Systems, Inc. (United States) 3. Trimble Inc. (United States) 4. AECOM (United States) 5. Procore Technologies, Inc. (United States) 6. Beck Technology Ltd. (United States) 7. Newforma (United States) 8. Viewpoint (United States) 9. Synchro Software Ltd. (United Kingdom) 10. FARO Technologies, Inc. (United States) 11. Thinkproject (Germany) 12. PlanGrid (United States) 13. Siemens AG (Germany) 14. Hexagon AB (Sweden) 15. GRAITEC Group (France) 16. Tekla Corporation (Finland) 17. ArchiCAD (Hungary) 18. Solibri Inc. (Finland) 19. CYPE Ingenieros (Spain) 20. Asite Solutions Limited (United Kingdom) 21. RIB Software SE (Germany) 22. Nemetschek SE (Germany) 23. Dassault Systèmes SA (France) 24. Graphisoft (Hungary) 25. Glodon Company Limited (China)

FAQ

Q.1) What is the CAGR of the Building Information Modeling market? Ans: The CAGR for Building Information Modeling market is 13.7%. Q.2) Which are the leading companies in Building Information Modeling market? Ans: are some of the leading companies in the Building Information Modeling market. Q.3) Which region shows maximum potential in Building Information Modeling market? Ans: North America is expected to grow exponentially and is likely to dominate Building Information Modeling market in the future. Q,4 Which is the leading region in the Building Information Modeling market? Ans: Asia Pacific leads the market of Building Information Modeling market significantly. Q.5) What was the forecast period of this report? Ans: The forecast period for the Building Information Modeling market research was 2023–2029.
1. Building Information Modeling Market: Research Methodology 2. Building Information Modeling Market: Executive Summary 3. Building Information Modeling Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Market Structure 3.4.1. Market Leaders 3.4.2. Market Followers 3.4.3. Emerging Players 3.5. Consolidation of the Market 4. Building Information Modeling Market: Dynamics 4.1. Market Trends by Region 4.1.1. North America 4.1.2. Europe 4.1.3. Asia Pacific 4.1.4. Middle East and Africa 4.1.5. South America 4.2. Market Drivers by Region 4.2.1. North America 4.2.2. Europe 4.2.3. Asia Pacific 4.2.4. Middle East and Africa 4.2.5. South America 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape by Region 4.9.1. North America 4.9.2. Europe 4.9.3. Asia Pacific 4.9.4. Middle East and Africa 4.9.5. South America 5. Building Information Modeling Market Size and Forecast by Segments (by Value USD and Volume Units) 5.1. Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 5.1.1. Software 5.1.2. Services 5.2. Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 5.2.1. On-Premises Deployment 5.2.2. Cloud Deployment 5.3. Building Information Modeling Market Size and Forecast, by Application (2022-2029) 5.3.1. Buildings 5.3.2. Industrial 5.3.3. Civil Infrastructure 5.3.4. Oil and Gas 5.3.5. Utilities 5.4. Building Information Modeling Market Size and Forecast, by End User (2022-2029) 5.4.1. AEC Professionals 5.4.2. Consultants and Facility Managers 5.5. Building Information Modeling Market Size and Forecast, by Region (2022-2029) 5.5.1. North America 5.5.2. Europe 5.5.3. Asia Pacific 5.5.4. Middle East and Africa 5.5.5. South America 6. North America Building Information Modeling Market Size and Forecast (by Value USD and Volume Units) 6.1. North America Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 6.1.1. Software 6.1.2. Services 6.2. North America Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 6.2.1. On-Premises Deployment 6.2.2. Cloud Deployment 6.3. North America Building Information Modeling Market Size and Forecast, by Application (2022-2029) 6.3.1. Buildings 6.3.2. Industrial 6.3.3. Civil Infrastructure 6.3.4. Oil and Gas 6.3.5. Utilities 6.4. North America Building Information Modeling Market Size and Forecast, by End User (2022-2029) 6.4.1. AEC Professionals 6.4.2. Consultants and Facility Managers 6.5. North America Building Information Modeling Market Size and Forecast, by Country (2022-2029) 6.5.1. United States 6.5.2. Canada 6.5.3. Mexico 7. Europe Building Information Modeling Market Size and Forecast (by Value USD and Volume Units) 7.1. Europe Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 7.1.1. Software 7.1.2. Services 7.2. Europe Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 7.2.1. On-Premises Deployment 7.2.2. Cloud Deployment 7.3. Europe Building Information Modeling Market Size and Forecast, by Application (2022-2029) 7.3.1. Buildings 7.3.2. Industrial 7.3.3. Civil Infrastructure 7.3.4. Oil and Gas 7.3.5. Utilities 7.4. Europe Building Information Modeling Market Size and Forecast, by End User (2022-2029) 7.4.1. AEC Professionals 7.4.2. Consultants and Facility Managers 7.5. Europe Building Information Modeling Market Size and Forecast, by Country (2022-2029) 7.5.1. UK 7.5.2. France 7.5.3. Germany 7.5.4. Italy 7.5.5. Spain 7.5.6. Sweden 7.5.7. Austria 7.5.8. Rest of Europe 8. Asia Pacific Building Information Modeling Market Size and Forecast (by Value USD and Volume Units) 8.1. Asia Pacific Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 8.1.1. Software 8.1.2. Services 8.2. Asia Pacific Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 8.2.1. On-Premises Deployment 8.2.2. Cloud Deployment 8.3. Asia Pacific Building Information Modeling Market Size and Forecast, by Application (2022-2029) 8.3.1. Buildings 8.3.2. Industrial 8.3.3. Civil Infrastructure 8.3.4. Oil and Gas 8.3.5. Utilities 8.4. Asia Pacific Building Information Modeling Market Size and Forecast, by End User (2022-2029) 8.4.1. AEC Professionals 8.4.2. Consultants and Facility Managers 8.5. Asia Pacific Building Information Modeling Market Size and Forecast, by Country (2022-2029) 8.5.1. China 8.5.2. S Korea 8.5.3. Japan 8.5.4. India 8.5.5. Australia 8.5.6. Indonesia 8.5.7. Malaysia 8.5.8. Vietnam 8.5.9. Taiwan 8.5.10. Bangladesh 8.5.11. Pakistan 8.5.12. Rest of Asia Pacific 9. Middle East and Africa Building Information Modeling Market Size and Forecast (by Value USD and Volume Units) 9.1. Middle East and Africa Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 9.1.1. Software 9.1.2. Services 9.2. Middle East and Africa Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 9.2.1. On-Premises Deployment 9.2.2. Cloud Deployment 9.3. Middle East and Africa Building Information Modeling Market Size and Forecast, by Application (2022-2029) 9.3.1. Buildings 9.3.2. Industrial 9.3.3. Civil Infrastructure 9.3.4. Oil and Gas 9.3.5. Utilities 9.4. Middle East and Africa Building Information Modeling Market Size and Forecast, by End User (2022-2029) 9.4.1. AEC Professionals 9.4.2. Consultants and Facility Managers 9.5. Middle East and Africa Building Information Modeling Market Size and Forecast, by Country (2022-2029) 9.5.1. South Africa 9.5.2. GCC 9.5.3. Egypt 9.5.4. Nigeria 9.5.5. Rest of ME&A 10. South America Building Information Modeling Market Size and Forecast (by Value USD and Volume Units) 10.1. South America Building Information Modeling Market Size and Forecast, by Offering Type (2022-2029) 10.1.1. Software 10.1.2. Services 10.2. South America Building Information Modeling Market Size and Forecast, by Deployment Type (2022-2029) 10.2.1. On-Premises Deployment 10.2.2. Cloud Deployment 10.3. South America Building Information Modeling Market Size and Forecast, by Application (2022-2029) 10.3.1. Buildings 10.3.2. Industrial 10.3.3. Civil Infrastructure 10.3.4. Oil and Gas 10.3.5. Utilities 10.4. South America Building Information Modeling Market Size and Forecast, by End User (2022-2029) 10.4.1. AEC Professionals 10.4.2. Consultants and Facility Managers 10.5. South America Building Information Modeling Market Size and Forecast, by Country (2022-2029) 10.5.1. Brazil 10.5.2. Argentina 10.5.3. Rest of South America 11. Company Profile: Key players 11.1. Autodesk, Inc. Company Overview 11.1.1. Financial Overview 11.1.2. Business Portfolio 11.1.3. SWOT Analysis 11.1.4. Business Strategy 11.1.5. Recent Developments 11.2. Bentley Systems, Inc. (United States) 11.3. Trimble Inc. (United States) 11.4. AECOM (United States) 11.5. Procore Technologies, Inc. (United States) 11.6. Beck Technology Ltd. (United States) 11.7. Newforma (United States) 11.8. Viewpoint (United States) 11.9. Synchro Software Ltd. (United Kingdom) 11.10. FARO Technologies, Inc. (United States) 11.11. Thinkproject (Germany) 11.12. PlanGrid (United States) 11.13. Siemens AG (Germany) 11.14. Hexagon AB (Sweden) 11.15. GRAITEC Group (France) 11.16. Tekla Corporation (Finland) 11.17. ArchiCAD (Hungary) 11.18. Solibri Inc. (Finland) 11.19. CYPE Ingenieros (Spain) 11.20. Asite Solutions Limited (United Kingdom) 11.21. RIB Software SE (Germany) 11.22. Nemetschek SE (Germany) 11.23. Dassault Systèmes SA (France) 11.24. Graphisoft (Hungary) 11.25. Glodon Company Limited (China) 12. Key Findings 13. Industry Recommendation

About This Report

Report ID 92636
Category Information Technology & Telecommunication
Published Date Sept 2023
Updated Date
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