Building Information Modeling Market Size, Share, Growth Analysis, By Offering(Software (Architectural Design, Sustainability, Structures, MEP), By Project Phase(Pre-Construction, Construction, Operations), By Vertical(Residential, Industrial, Commercial, Others), By Deployment Mode(On-premises, Cloud), By Application(Planning & Modelling, Construction & Design, Asset Management, Building System Analysis & Maintenance Scheduling), By End User(AEC Professionals, Consultants & Facility Managers, Others), By Region - Industry Forecast 2024-2031

North America led the building information modeling market with the highest revenue share in the forecast period. The government requirement to implement BIM software along with earlier adoption of advanced digital technologies is anticipated to accelerate industrial growth. On similar lines, South America will experience tremendous growth throughout the forecast period due to rising infrastructure and construction costs. In Mexico, BIM software was made mandatory from 2017. However, probably by 2022, other nation governments are going to enforce this mandate as seen in Chile and Peru. This is predicted to drive the regional building information modeling market even more. 

Asia-Pacific is to grow rapidly over the course of the forecast period based on growth in smart city initiatives developed in several countries such as South Korea, China, India, and Singapore. The need for innovative and efficient building and infrastructure solutions is gaining pace at the same rate as the rate of urbanization. With thousands of infrastructure projects proposed in China, the country will dominate the market. Three megaprojects scheduled to be executed in China using BIM software include Shanghai Tower, Beijing Phoenix Media Center, and Shanghai Disneyland Resort. This should propel the growth of the market during the period under forecast.