What is the global market size of Building Information Modeling Market?

Building Information Modeling Market size was valued at USD 5.95 billion in 2021 and is poised to grow from USD 6.71 billion in 2022 to USD 17.59 billion by 2030, at a CAGR of 12.8% during the forecast period (2023-2030).

Who are the key vendors in the Global Building Information Modeling Market?

Global Building Information Modeling (BIM) Market is highly competitive and characterized by the presence of several key players. These players strive to gain a significant market share by offering innovative BIM solutions and expanding their geographical presence. Some of the leading companies operating in the global BIM market compete based on factors such as product features, pricing, scalability, integration capabilities, and customer support. They focus on developing advanced BIM software tools that facilitate collaborative design, 3D modeling, clash detection, project management, and construction documentation. Additionally, strategic partnerships, mergers, and acquisitions are common strategies employed by these players to expand their product portfolios and strengthen their market position. The global market is witnessing continuous technological advancements, including the integration of BIM with emerging technologies like artificial intelligence, virtual reality, and the Internet of Things (IoT). This competitive landscape drives innovation in the industry and provides customers with a wide range of BIM solutions tailored to their specific needs, leading to a dynamic and evolving market. 'Autodesk, Inc. (US)', 'Bentley Systems, Incorporated (US)', 'Trimble Inc. (US)', 'Nemetschek SE (Germany)', 'Dassault Systèmes SE (France)', 'Hexagon AB (Sweden)', 'Asite Limited (UK)', 'Aveva Group plc (UK)', 'Archidata Inc. (Canada)', 'RIB Software SE (Germany)', 'Beck Technology Ltd. (US)', 'Graphisoft SE (Hungary)', 'Vectorworks, Inc. (US)', 'Procore Technologies, Inc. (US)', 'Newforma, LLC (US)', 'PlanGrid, Inc. (US)', 'Accruent, LLC (US)', 'PlanRadar GmbH (Austria)', 'Bluebeam, Inc. (US)', 'ConstructConnect (US)'.

What is the key driver of Global Building Information Modeling Market?

The increasing focus on sustainable practices in the construction industry is driving the demand for BIM software that enables designers and engineers to optimize building performance, reduce energy consumption and carbon emissions, and achieve green building certifications. For example, the use of BIM software helped the architects of the Sydney Opera House to design a more energy-efficient HVAC system, reducing energy consumption by 10%.

What is the key market trend for Global Building Information Modeling Market?

Adoption of cloud-based BIM solutions: Cloud-based BIM solutions are becoming increasingly popular as they offer benefits such as remote access, collaboration, and scalability. For example, Autodesk's BIM 360 platform is a cloud-based solution that enables project teams to collaborate in real time, reducing the risk of errors and delays.

Which region accounted for the largest share in Global Building Information Modeling Market?

North America dominated the global market, with its technologically advanced construction industry and a strong focus on infrastructure development. The region's robust adoption of BIM solutions can be attributed to its numerous benefits, such as improved project efficiency, reduced costs, and enhanced collaboration among stakeholders. With a market share of over 40.34%, North America boasts a mature BIM ecosystem, driven by prominent players and government initiatives promoting digital transformation in construction.

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

Report ID: SQMIG45E2219 | Region: Global | Published Date: September, 2024
Pages: 197 | Tables: 62 | Figures: 75

Building Information Modeling Market News

July 2024: Esri and Autodesk have strengthened their partnership to better ensure data interoperability between Geographic Information Systems (GIS) and Building Information Modeling (BIM). ArcGIS Pro now supports direct read for CAD and BIM elements from the company's products, marking a new step in a partnership that aims to revolutionize geospatial and design data management processes for professionals working in the AEC industry from architects and engineers to construction managers.
June 2024: Hexagon acquired Cordoba-based BIM specialist business Voyansi so as to expand the firm's solution offering in BIM. This acquisition supports leadership in the global BIM market for Hexagon but also highlights the talent in Argentina's technology industry. The company is based in Córdoba and has spent the last 15 years developing design, architecture, and engineering services for the construction industry globally.
In February 2023, Asite acquired 3D Repo, a UK-based leader in cloud-based building information modeling (BIM) collaboration software. This calculated acquisition keeps Asite at the helm of digital engineering and gives its clients some of the most advanced solutions to manage the whole building process.

Building Information Modeling Market Report Snapshots

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Building Information Modeling Market size was valued at USD 5.5 billion in 2022 and is poised to grow from USD 6.6 billion in 2023 to USD 24.07 billion by 2031, growing at a CAGR of 13.12% during the forecast period (2024-2031).

The market is highly competitive, with several key players, and goes globally; thus, the companies are trying to expand their geographical footprint and offer the latest BIM solutions to capture a significant share of the market. Various global leaders in BIM market compete with each other mainly on features, price, scalability, integration prospects, and after-sales services. The emphasis is given to developing high-end BIM software products relating to project management, construction documentation, conflict detection, collaborative design, and 3D modeling. 'Autodesk Inc. ', 'Nemetschek Group ', 'Bentley Systems ', 'Dassault Systèmes ', 'Trimble Inc. ', 'Schneider Electric ', 'Procore Technologies, Inc. ', 'TreisTek India Pvt. Ltd. ', 'Concora ', 'AFRY AB ', '4M ', 'Asite ', 'Hexagon AB ', 'Archidata Inc. ', 'ACCA software ', 'Beck Technology ', 'Computers and Structures, Inc. (CSI) ', 'SierraSoft ', 'Cadsoft Corporation ', 'Topcon ', 'Vectorworks, Inc.'

Optimizing processes, improving stakeholder engagement BIM helps increase the project efficiency rate significantly by optimizing the processes and improving stakeholder engagement. Being an integrated tool that provides for accurate cost prediction, real-time visualization, and thorough planning, BIM facilitates teams to identify problems beforehand, thus saving on expensive delays and costly rework. Taking a proactive stance will help in shaving off building durations, coupled with optimal allocation of resources, saving plenty of money. Since BIM can execute projects more effectively and efficiently, it poses as an essential part of the current building methods and leads to its widespread adoption across the industry since companies seeking to up their competitive stand wants to leverage it.

Integration of AI and Machine Learning: The integration of artificial intelligence (AI) and machine learning, new trends that are changing the BIM sector, refers to the process of combining these technologies with BIM. These technologies advance BIM software by giving predictive modeling, advanced analytics, and task automation. Using AI at any stage of a project helps it analyze vast amounts of data, hence finding trends and making suggestions for improvements-a good tool for making better decisions. This amalgamation decreases the likelihood of errors, improves the overall project result, and enables one to efficiently utilize resources. Since companies wish to launch streamlined operations, it is expected that AI and machine learning in BIM solutions would be implemented on the rise.

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.

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Building Information Modeling Market Report Snapshots

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What is the global market size of Building Information Modeling Market?

Who are the key vendors in the Building Information Modeling Market?

What is the key driver of Building Information Modeling Market?

What is the key market trend for Building Information Modeling Market?

Which region accounted for the largest share in Building Information Modeling Market?

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