The global Building Information Modelling (BIM) market size was USD 6.00 Billion in 2021 and register a revenue CAGR of 12.3% over the forecast period, according to the latest analysis by Emergen Research. Rising demand for Virtual Reality (VR) or Augmented Reality (AR) in building construction and compulsory adoption of BIM due to government mandates in various countries are key factors driving global building information modelling market revenue growth.
VR software enables Architecture, Engineering, Construction (AEC) professionals to visualize the BIM model in a realistic setting. BIM software provides useful tools for visualizing a building’s logistical issues and construction impact. Construction managers can predict the installment of construction machinery by observing BIM models. Architects and engineers can use 3D modeling, in identifying space difficulties, collisions, and constraints in design. Additionally, they provide a common environment for many project participants for better cooperation. This is expected to drive revenue growth of the market.
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Compulsory adoption of BIM due to government mandates in various countries has led to growing demand for BIM software. AEC professionals around the world are widely using BIM software for designing, planning, and 3D modeling construction projects. AEC professionals in China and several companies have integrated policies for adoption of BIM for growth and digitization. Similarly, countries such as UAE have made BIM mandatory for all projects that are 300,00 sq. ft. and larger or 40-stories and higher.
Additionally, increasing collaborations among stakeholders and rapid adoption of digitalization in construction activities are expected to contribute to revenue growth of the market. A 3D model is developed based on on-site conditions and facilities. There are multiple ways of developing models such as laser scanning, modeling software, and other techniques of surveying.
Key Highlights from the Report
On 21 October 2019, Bentley Systems, Incorporated, announced new additions and fresh updates to its applications for open modeling and simulation to advance engineering digital twins throughout asset lifecycles. Its open applications enable collaborative, automated, and iterative digital workflows across various infrastructure projects. The new digital twin cloud services can contribute to extending business values throughout construction and operations phases of infrastructure projects
The on-premise segment accounted for largest revenue share in 2021. This is owing to growing number of software vendors selling the license to companies to have full access to sophisticated BIM tools for 3D modeling, planning and scheduling, and other activities in the pipeline.
The software segment revenue is expected to account for largest revenue share over the forecast period. This is due to growing demand for BIM software in the AEC industry and surge in demand for BIM software in large construction projects for the purpose of streamlining various construction activities and facilitate better collaboration among stakeholders.
The planning & modelling segment revenue is expected to account for largest revenue share over the forecast period. This is due to availability of a wide number of BIM tools that can facilitate integrated planning and modeling and increasing adoption of BIM in large-scale projects, which has been made mandatory by governments of various countries.
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Emergen Research has segmented the global building information modelling market based on deployment, component, project lifecycle, application, and region:
Deployment Outlook (Revenue, USD Billion, 2019–2030)
On Premises
Cloud
Component Outlook (Revenue, USD Billion, 2019–2030)
Software
Services
Project Lifecycle Outlook (Revenue, USD Billion, 2019–2030)
Preconstruction
Construction
Operation
Application Outlook (Revenue, USD Billion, 2019–2030)
Planning & Modelling
Construction & Design
Asset Management
Building System Analysis & Maintenance Scheduling
Others
Competitive Terrain:
The Global Building Information Modelling Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Some major companies in the global market report include
Autodesk Inc., Bentley Systems, Incorporated, Nemetschek Group, Trimble Inc., Dassault Systèmes, RIB Software SE, Asite, AVEVA Group plc, Hexagon AB, and Bimobject AB
Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Benefits of Buying the Global Building Information Modelling Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Building Information Modelling Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Building Information Modelling Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Building Information Modelling Market
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Building Information Modelling market?
What are the key product types and applications of the Building Information Modelling industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Building Information Modelling market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Building Information Modelling Market by 2030?
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