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The Building Information Modeling Market Size was valued at USD 7.8 billion in 2023 and is expected to reach USD 111.60 billion by 2032 and grow at a CAGR of 13.85% over the forecast period 2024-2032.
Building information modeling (BIM) is a type of software used by real estate companies; construction firms; and architecture, engineering, and construction technicians (AEC) to effectively manage the project life cycle. The main purpose of building a knowledge matching software is to improve project performance and produce better results. BIM assists building managers to gather data and information in relevant fields and communicate effectively. Improved data communication and interaction between various stakeholders in conjunction with advanced architecture production provides a leading edge for BIM users.
KEY DRIVERS:
Growing government initiatives to promote BIM use.
Accelerating global urbanization.
The AEC sector has recognized several benefits from BIM.
RESTRAINTS:
BIM has a high initial investment cost.
OPPORTUNITIES:
BIM is becoming more popular.
Organizations are increasingly focusing on introducing new standards, such as ISO 1965, into the BIM industry.
CHALLENGES:
The digitization of the construction sector is modest.
The epidemic situation has disrupted a series of supply of various raw materials and materials. It also has a significant impact on the Building Information modeling plans for the expansion of the Market Size. Due to a shortage of equipment and skilled workers, the epidemic has also led to a decline in demand for this market. However, various digital technologies such as analysis, monitoring, and information management such as staff functions to control the distribution of information have had a positive impact on the Market of Building information modeling Market. The establishment of effective security systems in the construction sites to comply with safety agreements and to prioritize the safety of workers has been one of the key factors that has further enhanced the shared market share of the building Information modeling market. Various soft materials have developed BIM collaboration software to serve the purpose of connecting various employees through mobile applications. Also, external areas that monitor certain existing routes in the construction site can be used to monitor the level of site construction and productivity of workers.
Based on Component, the BIM market is segmented into Software solution and Services. Software solutions used for BIM display features such as interoperability between applications, visualization, and cost effectiveness. BIM software suite usually includes solutions for a variety of purposes, such as architecture, sustainability, buildings, machinery, electrical, and plumbing (MEP) to build and institutional management in the project life cycle. The different types of BIM software solutions available on the market are Autodesk Revit Structure, Graphisoft ArchiCAD, Nemetschek ALLPLAN Architecture, Bentley Facilities Manager, and Tekla Structures. 3D BIM is increasingly being used by a few specialists in architecture, engineering, and construction (AEC). Visualization of a 3D project, cost and time savings, and design flexibility are all good characteristics of BIM software and solutions.
Based on Project Lifecycle, the BIM market is segmented into Construction, Operation and Preconstruction. BIM was adopted in the pre-construction (design) phases, construction, and operation of the construction project. Focuses all aspects of a construction project in one package. Users working in different categories can refer to data from a specific project if a problem arises, this prevents cost overruns.
Based on Application, the BIM market is segmented into Industrial, Buildings, Civil Infrastructure, Utilities, Oil & Gas and Others. BIM is becoming more prevalent in the building business. Building applications include commercial, residential, and retail building. These applications focus on BIM approval by companies primarily responsible for working on the construction of commercial and retail properties. BIM is widely used to design buildings during the construction phase in preparation for 3D building modeling, and the flow of the entire construction project is determined. Building applications make up the bulk of the BIM market due to the growing number of buildings or construction projects, as well as business centers, shopping centers and stores.
BY COMPONENT:
Software and solution
Services
BY DEPLOYMENT MODE:
Cloud Deployment
On Premises Deployment
BY PROJECT LIFECYCLE:
Construction
Operation
Preconstruction
BY APPLICATION:
Industrial
Buildings
Civil Infrastructure
Utilities
Oil & Gas
Others
BY END USER:
Consultants & Facility Managers
AEC Professionals
Others
North America is one of the most critical markets for BIM. It covers the US, Canada, and Mexico. The region first adopted advanced BIM technology, which is a newly developed method of design and construction. This process has laid the foundation for the traditional North American construction industry. Several professionals who use BIM for their projects are based in the region. BIM is increasingly being adopted by contractors, engineers, and architects, and the number is growing exponentially. They use the BIM process to improve efficiency during the design and construction stages of a project, as well as to minimize project-related errors and to maximize profits in investment. The strong economic position and effective government support have contributed to the widespread adoption of advanced technology in the construction sector, furthering BIM market growth in the region. Therefore, the region is expected to continue to hold the largest share in the global BIM market.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the building information modeling are Autodesk, Aveva Group, Bentley Systems, Hexagon, Nemetschek, Trimble, Asite Solutions, Beck Technology, Dassault Systems, Pentagon Solution & Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 7.8 Bn |
| Market Size by 2032 | US$ 111.6 Bn |
| CAGR | CAGR of 13.85% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• BY COMPONENT (Software and solution, Services) • BY DEPLOYMENT MODE (Cloud Deployment, On Premises Deployment) • BY PROJECT LIFECYCLE (Construction, Operation, Preconstruction) • BY APPLICATION (Industrial, Buildings, Civil Infrastructure, Utilities, Oil & Gas, Others) • BY END USER (Consultants & Facility Managers, AEC Professionals, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Autodesk, Aveva Group, Bentley Systems, Hexagon, Nemetschek, Trimble, Asite Solutions, Beck Technology, Dassault Systems, Pentagon Solution |
| Key Drivers | • Growing government initiatives to promote BIM use. • Accelerating global urbanization. • The AEC sector has recognized several benefits from BIM. |
| Restraints | • BIM has a high initial investment cost. |
Ans: The Building Information Modeling Market Size is expected to reach USD 22.03 billion by 2031.
The market has been segmented with respect to component, development mode, project life cycle, end-user and application.
The COVID-19 epidemic situation has disrupted a series of supply of various raw materials and materials. It also has a significant impact on the Building Information modeling plans for the expansion of the Market Size. Due to a shortage of equipment and skilled workers, the epidemic has also led to a decline in demand for this market.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Ans: The Building Information Modeling Market is to grow at a CAGR of 13.85% during the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Building Information Modeling Market Segmentation, by component
8.1Introduction
8.2 Software and solution
8.3 Services
9. Building Information Modeling Market Segmentation, by deployment mode
9.1Introduction
9.2 Cloud Deployment
9.3 On Premises Deployment
10. Building Information Modeling Market Segmentation, by project lifecycle
10.1 Introduction
10.2 Construction
10.3 Operation
10. 4 Preconstruction
11. Building Information Modeling Market Segmentation, by application
11.1 Introduction
11.2 Industrial
11.3 Buildings
11.4 Civil Infrastructure
11.5 Utilities
11.6 Oil & Gas
11.7 Others
12. Building Information Modeling Market Segmentation, by end user
12.1 Introduction
12.2 Consultants & Facility Managers
12.3 AEC Professionals
12.4 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14.Company Profiles
14.1 Aveva Group
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Autodesk
14.3 Bentley Systems
14.4 Hexagon
14.5 Nemetschek
14.6 Trimble
14.7 Asite Solutions
14.8 Beck Technology
14.9 Dassault Systems
14.10 Pentagon Solution
14.11 Others
15. Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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