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Building Information Modeling Market Report Scope & Overview:

The Building Information Modeling Market Size was valued at USD 7.8 billion in 2023 and is expected to reach USD 22.03 billion by 2031 and grow at a CAGR of 13.85% over the forecast period 2024-2031.

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.

Building Information Modeling Market Revenue Analysis

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MARKET DYNAMICS:

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.

IMPACT OF COVID-19:

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.

KEY MARKET 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:

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.

Building Information Modeling Market By Region

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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

KEY PLAYERS:

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.

Aveva Group-Company Financial Analysis

Company Landscape Analysis

Building Information Modeling Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 7.8 Bn
Market Size by 2031 US$ 22.03 Bn
CAGR  CAGR of 13.85% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
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.

Frequently Asked Questions

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

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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Data Bank Validation

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