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Building Information Modeling Market

Building Information Modeling Market

Building Information Modeling Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

143

Base Year:

2021

Date

Jul - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1759

Segments Covered
  • By Deployment Type On-Premises Deployment, Cloud Deployment
  • By Offering Type Software, Services
  • By Project Lifecycle Pre-Construction, Construction, Operation
  • By Application Buildings, Industrial, Civil Infrastructure, Oil & Gas, Utilities, Other Applications
  • By End User AEC Professionals, Consultants & Facility Managers, Other End Users
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 5,721.4 Million
Revenue 2028Revenue 2028: USD 1,1172.5 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 11.8%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Building Information Modeling Market Share

Market Synopsis:

The Global Building Information Modeling Market was valued at USD 5,721.4 Million in the year 2021 and is projected to reach a value of USD 1,1172.5 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 11.8% over the forecast period.

Building Information Modeling is a three-dimensional depiction of a building's design, including the plan, elevation, and section. In the AEC sector, Building Information Modeling is a popular design tool for analyzing the quantity and quality aspects of a project, such as a cost estimation, schedule requirements, and component procurement. Furthermore, Building Information Modeling assists with activities connected to the project after it has been completed, such as maintenance issues and project cycle management. There has been an increase in construction activity all across the world. Large buildings, housing apartments, business areas, government complexes, and other activities are among them. Furthermore, construction SMEs are expanding at a rapid rate, which has supported the worldwide Building Information Modeling Market. Furthermore, government regulatory agencies that oversee construction operations have demanded that construction companies use Building Information Modeling solely for public-sector projects. The Building Information Modeling Task Group, for example, was established to promote Building Information Modeling adoption in the United Kingdom.

Building Information Modeling Market Size, 2021 To 2028 (USD Million)

However, High expenses, the need for frequent maintenance, and a lack of technical experience are all challenges limiting the growth of the building information modeling market. Because Building Information Modeling is such an important tool, even little design errors can result in catastrophic workplace catastrophes. As a result, one of the primary factors limiting the growth of the Building Information Modeling Market is a shortage of technical skills. The expensive cost of Building Information Modeling software, as well as the need for periodic upgrades and reconfigurations, is major roadblocks to the market's expansion. The demand for Building Information Modeling software is skyrocketing, thanks to the emergence of cloud-based services.

Market Segmentation:

The Building Information Modeling Market is segmented based on Deployment, Offering, Project Lifecycle, Application, End User, and Region. Based on Deployment, the market is sub-segmented as On-Premises Deployment and Cloud Deployment. Moreover, based on Offering, the market is sub-segmented as Software and Services. Based on Project Lifecycle, the market is sub-segmented into Pre-Construction, Construction, and Operation. Furthermore, based on the segment Application, the market is sub-segmented as Buildings, Industrial, Civil Infrastructure, Oil & Gas Utilities, and Others. Finally based on the segment End User, the market is sub-segmented as AEC Professionals, Consultants & Facility Managers, and Other Applications.

Below tree is interactive. You can click the nodes to get more information.

Based on Project Lifecycle

On the basis of the sector Project Lifecycle, the Pre-Construction sub-sector is expected to lead the market during the projected period. The use of Building Information Modeling in the pre-construction phase aids in laying out the complete operating scope, estimating building project costs, designing, and planning workflow. This also aids in reducing errors and ensuring that all challenges are met on schedule.

Based on End User

Based on the segment End User, the Consultants & Facility Managers sub-segments market share is likely to be dominated by the architect and engineer segment. The program assists designers and builders in anticipating the projects' potential future issues. By implementing the program, facility and construction managers can gain continuous insight into the process. This will very certainly increase demand for the software.

North America is projected to grow at the fastest CAGR during the forecast period followed by the Asia Pacific

North America is expected to dominate the revenue share during the projected timeframe. Early acceptance of modern digital technologies, as well as the government’s mandate to use Building Information Modeling software, is expected to promote market growth. Similarly, due to increased spending on construction and infrastructure, South America will experience significant growth during the predicted period. However, the growing number of smart city initiatives in countries like as South Korea, China, India, and Singapore, Asia Pacific is expected to develop significantly throughout the projection period. The demand for efficient and innovative construction and infrastructure solutions is increasing as the world becomes more urbanized. Due to the generally large number of planned infrastructure projects in China, the country is likely to dominate the region. Shanghai Tower, Beijing Phoenix Media Center, and Shanghai Disneyland Resort are three large-scale construction projects that will use Building Information Modeling software. This will very certainly enhance market growth.

Competitive Landscape:

The key players in the Global Building Information Modeling Market include- Autodesk, Nemetschek, Bentley Systems, Trimble, Dassault Systems, Rib Software, Asite, Aveva, Hexagon, Archidata and others.

Segmentation of the Global Building Information Modeling Market:

Parameter Details
Segments Covered
  • Deployment Type (On-Premises Deployment, Cloud Deployment)
  • Offering Type (Software, Services)
  • Project Lifecycle (Pre-Construction, Construction, Operation)
  • Application (Buildings, Industrial, Civil Infrastructure, Oil & Gas, Utilities, Other Applications)
  • End User (AEC Professionals, Consultants & Facility Managers, Other End Users)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Autodesk
  • Nemetschek
  • Bentley Systems
  • Trimble
  • Dassault Systems
  • Rib Software
  • Asite
  • Aveva
  • Hexagon
  • Archidata
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Building Information Modeling (BIM) Market to Reach Valuation of USD 1,1172.5 Million by 2028 – Growing Inclination towards Architectural Consulting the Market
Building Information Modeling (BIM) Market is a software modeling approach that allows architects, engineers, and contractors to coordinate the design, construction, and operation of a structure. Numerous people from many professions are involved in the commercial building, including architects, eng...
FAQ
Frequently Asked Question
  • The global Building Information Modeling valued at USD 5,721.4 Million in 2020 and is expected to reach USD 1,1172.5 Million in 2028 growing at a CAGR of 11.8%.

  • The prominent players in the market are Autodesk, Nemetschek, Bentley Systems, Trimble, Dassault Systems, Rib Software, Asite, Aveva, Hexagon, Archidata.

  • The market is project to grow at a CAGR of 11.8% between 2021 and 2028.

  • The driving factors of the Building Information Modeling include

    • Governmental Mandates Promoting the Usage of BIM in Key International Markets

  • North America was the leading regional segment of the Building Information Modeling in 2020.