USD 328. 33
5D Building Information Modeling Market Size, Share, Growth Analysis, By Offering Type(Software, Services), By Project Lifecycle(Preconstruction, Construction, Operation), By Application(Buildings, Industrial, Civil Infrastructure, Oil & Gas), By End User(AEC Professionals, Consultants & Facility Managers, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG60I2002 |
Region:
Global |
Published Date: July, 2001
Pages:
276
|Tables:
119
|Figures:
67
5D Building Information Modeling Market Insights
5D Building Information Modelling Market size was valued at USD 328. 33 billion in 2019 and is poised to grow from USD 436. 26 billion in 2023 to USD 4275.39 billion by 2031, growing at a CAGR of 33% in the forecast period (2024-2031).
BIM is dependent on a Common Data Environment where all project agents can work together and provide insightful input. When it comes to information on costs, 5D BIM software can have a significant influence on the construction management process. Thanks to 5D BIM, data related to cost are regularly updated as the project moves forward, making it more analytical. In contrast to being solely established at the project's start, cost is now dynamically evolved and readjusted. That is a ground-breaking method that makes it simpler for project managers to monitor changes and keep the project on schedule and within the allocated budget. Long-term, this can enhance resource management and cost predictability. Additionally, creating a strong connection between the office and the building site will stop teams from operating in silos and open the door for more fact-based decisions. Of course, a key factor in the effective application of 5D BIM software is digital adoption. Otherwise, the BIM model will never receive the new project data. Everyone will be able to be certain that they are working on the most recent and updated project version after this barrier has been removed.
Pre-construction and early design phases are critical times that call for agreement on the work scope, based on the needs and expectations of the owner, and precise cost estimates for project deliveries. With the use of 5D BIM, owners, architects, builders, and engineers can now meet early in the design process to talk about not just their existing design but also how design changes or alternatives would impact their project from the beginning to the end. All components are visible and evaluable, including cost, schedule, and constructability.
US 5D Building Information Modeling Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
33% CAGR
Global 5D Building Information Modeling Market ($ Bn)
Country Share for North America Region (%)
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5D Building Information Modeling Market Segmental Analysis
The Global 5D Building Information Modeling Market is segmented based on the Offering Type, Project Life Cycle, Application, End-User and region. Based on the Offering Type, the market is bifurcated into Software, and Services. Based on the Project Lifecycle, the 5D Building Information Modelling Market is segmented into Preconstruction, Construction, and Operation. Based on the End user, the 5D Building Information Modelling Market is segmented into AEC Professionals, Consultants & Facility Managers, and Others. Based on the Application, the market is segmented into Buildings, Industrial, Civil Infrastructure, Oil & Gas, Utilities, Others. Based on Region 5D Building Information Modelling Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
5D Building Information Modelling Market Analysis by Offering Type
In 2021, the Software type led the 5D building information modeling market in terms of revenue share. 5D BIM software options display qualities including application interoperability, simple visualisation, and affordability. In a project life cycle, the 5D BIM software package often includes solutions for a variety of goals, including architectural, sustainability, structures, mechanical, electrical, and plumbing (MEP), construction, and facility management. There are numerous BIM software options on the market, including Tekla Structures, Bentley Facilities Manager, Graphisoft ArchiCAD, Nemetschek ALLPLAN Architecture, and Autodesk Revit Structure.
5D Building Information Modelling Market Analysis by Application
Building applications make up the largest portion of the 5D building information modelling market in 2021 due to the rise in business centres, shopping malls, and retail stores as well as the number of structures or development projects. 5D BIM is increasingly being used in the construction industry. Most requests for building are for commercial, residential, and retail structures. The main focus of these applications is the use of BIM by companies that are primarily in charge of working on the construction of commercial and retail structures, including new work, additions, alterations, maintenance, and repairs.
Global 5D Building Information Modeling Market By Offering Type
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5D Building Information Modeling Market Regional Insights
North America held the largest Global 5D Building Information Modeling Market share. This area saw the introduction of cutting-edge 5D BIM technology, a recently developed innovative technique to design and construction. This technique is currently commonly employed in the construction industry in North America. Many professionals who employ 5D BIM in their projects are based in this region. BIM is being used by an increasing number of architects, engineers, and contractors. During the design and construction phases of the project, they use the BIM method to boost productivity, reduce mistake rates, and generate a strong return on investment. Strong economic standing and active governmental assistance have facilitated widespread use of cutting-edge technology in the building sector, which further fuels the expansion of the BIM industry in the area. As a result, it is anticipated that the area would continue to hold the greatest market share for 5D building information modelling globally.
The use of 5D building information modelling systems has increased significantly over the past few years in Asia Pacific as a result of the flourishing construction industry and favourable governmental regulations everywhere. Additionally, the ability of the programme to promote worker efficiency on the construction site and reduce conflicts in construction operations has increased 5D building information modeling's popularity among end users. In addition, many small and medium-sized businesses are implementing cloud-based 5D building information modelling systems in an effort to reduce the cost of the construction project and improve the safety of workers on construction sites. These factors will drive the market in Asia Pacific during the forecast period.
Global 5D Building Information Modeling Market By Region
- Largest
- Fastest
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5D Building Information Modeling Market Dynamics
5D Building Information Modelling Market Driver
Rising trend of IoT in construction sector
- The modelling and ordering processes can be made easier with the use of IoT in construction, and the needed material can be supplied straight to the construction site, cutting down on the amount of time needed for ordering. Prefabrication can make advantage of IoT solutions. Compared to conventional building techniques, using prefabricated building components can result in quicker and more affordable solutions. It can also have the added benefit of producing less construction waste. However, it can be difficult to integrate employing prefab for large commercial building projects with the entire construction lifecycle. IoT can therefore aid in resolving this issue.
- By using RFID sensors to track individual prefab components during the construction of the Leadenhall Project in London, which needed to be built with a small footprint yet required big prefab components, it was feasible to complete the complicated building on schedule and to exacting standards. Consequently, the combination of BIM with IoT technologies offers a thorough understanding of the state of the structures.
5D Building Information Modelling Market Restraint
High initial cost of 5D Building Information Modeling
- 5D Building Information Modeling has enormous advantages and can save money, but there is a significant upfront investment. For instance, Autodesk's Revit programme costs between USD 3,500 and 4,500. In addition to the price of the programme, training and services are also expensive. BIM's high starting cost would therefore limit the market's expansion.
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5D Building Information Modeling Market Competitive Landscape
There are several large companies competing in the market. To stay afloat in the global 5D Building Information Modeling market, the market's major players are constantly implementing various growth strategies. Autodesk (US), Nemetschek (Germany), Bentley Systems (US), Trimble (US), Dassault Systèmes (France), RIB Software (Germany), ASITE (UK), AVEVA (UK), and Hexagon (Sweden) are among the major players in the 5D building information modeling market. Some of the growth strategies used by these key players to thrive in the competitive global 5D Building Information Modeling market include product launches, innovations, mergers and acquisitions, collaborations and partnerships. For Instance, Graphisoft, the industry's top provider of BIM software solutions for architecture, made significant updates to BIMx and BIMcloud in July 2021 to improve security, storage capacity, and visualisation and collaboration features.
5D Building Information Modelling Market Top Player's Company Profiles
- Autodesk (US)
- Nemetschek (Germany)
- Bentley Systems (US)
- Trimble (US)
- Dassault Systems (France)
- Rib Software (Germany)
- ASITE (UK)
- Aveva (UK)
- Hexagon (Sweden)
- Archidata (Canada)
5D Building Information Modelling Market Recent Developments
- In June 2022, the newly released 2023 version of CYPE has improved created BIM models, making them more precise and allowing for the inclusion of more information. Additionally, the business has streamlined its global application so that any technician in the building sector, regardless of their area of expertise, is able to participate in an Open BIM project from the planning stage to the construction stage.
- In July 2021, BIMx and BIMcloud have received significant upgrades from Graphisoft, the industry's top provider of BIM software solutions for architecture, to increase security, storage capacity, and collaboration and visualisation features. Additionally, Android users can access the new 3D BIMx engine.
- In May 2021, Bimplus, a cloud-based data management and collaboration platform, received an update from ALLPLAN, a global provider of BIM solutions for the AEC sector. A totally digital environment for model collaboration is provided by the most recent update, which includes a host of new and enhanced functionality for managing BIM models, clear document management, and the integration of guest viewers.
5D Building Information Modeling Key Market Trends
- Every aspect, including square footages, pricing, time, and layouts, may be conceived using 5D BIM. Owners can make judgments that are well-informed and confidently select the ideal facility with the assistance of a whole project team and estimation specialists. Using BIM in a 5D approach enables a clear vision to emerge early in the process so that every component and detail of a build is in line with overall objectives.
- As the model is created or modified, data is delivered in real time. While the owner and project team can view the cost and other data change in real time, alternative concepts may be quickly examined. In comparison to conventional techniques, the design and estimating cycle time is greatly reduced. Real-time updates that are trustworthy and accurate have a favourable effect on a project's effectiveness and budget.
5D Building Information Modeling Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global 5D Building Information Modeling Market Analysis, In order to plan, design, and manage building projects more effectively, construction professionals will have a high need for 5D BIM as a result of the rising demand for housing and infrastructure development, which is projected to accelerate the growth of the global construction sector. In executing building projects, the 5D model-based BIM technique has thus been gaining popularity all around the world. The architects, engineers, and contractors who make up the architecture, engineering, and construction (AEC) sector collaborate to complete projects successfully. Rising trends in cutting-edge technology have sparked an increase in the use of creative strategies in the construction industry's working standards.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 328. 33 |
| Market size value in 2031 | USD 4275.39 billion |
| Growth Rate | 33% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 5D Building Information Modeling Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 5D Building Information Modeling Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 5D Building Information Modeling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 5D Building Information Modeling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 5D Building Information Modeling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 5D Building Information Modeling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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