Building Information Modelling Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Building Information Modelling Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Building information modeling (BIM) Market

The building information modelling (BIM) market size was valued at USD 5.20 billion in 2019, and the market is now projected to grow from USD 5.71 billion in 2020 to USD 5.71 billion by 2027, exhibiting a CAGR of 11.1% during the forecast period of 2020-2027.

As construction projects worldwide either slowed down or were halted due to lockdowns, which lowered the use of BIM solutions for a while. Other factors that constrained the growth of BIM market included increased supply chain disruptions to extend project timelines. Recent global financial conditions involving firms and organizations have forced reductions in funding or budget for BIM implementation in areas with increased severe economic effects. These factors hinder the building information modeling (BIM) market growth.

Currently with advancement in technology and the improvements in infrastructures in cities, many individuals are migrating into metropolitan cities all over the world. It is increasing the need for more infrastructures for personal and business use in the developing urban markets. There is also an overgrowth in the require for residential buildings necessities in cities. In addition, with more foreign and domestic investments going into the real estate market, more construction is being embarked on towards building various and sundry commercial structures, government, and public building and private facilities across countries every year. It is increasing the need for operation handling models. This drives the building information modeling (BIM) market share.

The need for software in architecture and construction is increasing greatly. In the overall operation process, the solution benefits the builder and owner in cutting down the overall overall costs. This is fostering the governments encouragement of the implementation of building information modeling solutions. The application of such complex technologies can provide a sound structural framework in the country. As a result, governments of multiple nations are leveraging themselves with trimmed technology for effectiveness.

Comprehensive Analysis of Building information modeling (BIM) Market

The building information modeling (BIM) market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided into 4 Segments, By Component Analysis, By Project Phase Analysis, By Application Analysis and By End-User Analysis. By the component, the market is divided into software and services. Out of the two segments, the software segment may capture a bigger share during the forecast period. The use of effective technology in the AEC industry is on the rise and this will improve the uptake of BIM software even more. According to the project phase the market can be divided into pre-construction, construction, and post construction phase. Out of all the segments, the pre-construction segment is believed to dominate the market within the coming years of the forecast period. BIM plays an essential role in pre-construction phase since it enables detailing of the whole operation scope, cost estimating of building projects, designing as well as planning a project’s workflow. Depending on the application the market can be further divided as commercial application, residential application, industrial application as well as road, airport, port, railways, energy and utility, education, healthcare and social infrastructure. During the forecasting period, the commercial segment has higher chances to dominate the market. The magnitude of selling gigantic and monumental business structures would be highly expensive to boost the need for this effective digital working platform. Depending on the end user, the market has been classified in architects and engineers, facility or construction managers, and builders & contractors. New product development from architect and engineer segment is predicted to hold leveraged market share. Through this software, the designers and builders get to know about all the future adversities that can occur to the projects.

North America is expected to dominate the revenue share during the forecast period. The market is expected to grow due to early implementation of advanced digital tools and government recommendation for the implementation of BIM software. Likewise, South America will grow throughout the forecast period based on the rising expenditure in construction and establishment.

Autodesk Inc. (U.S.), Dassault Systèmes SA (France), Bentley Systems Inc. (U.S.), Nemetschek AG (Germany), Beck Technology Ltd. (U.S.), AVEVA Group Plc. (U.K.), Hexagon AB (Sweden), Pentagon Solution Ltd. (Ireland), Trimble Ltd. (U.S.), Synchro Software Ltd. (U.K.), Pinnacle Infotech (India), Planon Group (U.S.), LOD Planner Inc. (U.S.), ACCA software S.p.A. (Italy), Vectorworks, Inc. (U.S.), Revit Modeling India (India) and Robert McNeel & Associates (U.S.) are significant players in the hardware & software IT services market. They are the key player that ensures the industry's success while still having to keep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In March 2020, Tekla, a software solution by Trimble Inc. has recently released a new form of solution for structural engineering or building information modeling or steel fabrication management. It is one that enables collaboration, enables the flow of information, and enables the building, designing, and management of the operations lifecycle.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD billion)

Segmentation Component; Project Phase; Application; End-User; and Region

By Component

Software

Services

By Project Phase

Pre-Construction

Construction

Post Construction

By Application

Commercial

Residential

Industrial

Public Infrastructure (Road, Airport, Ports, Railways, Energy and Utilities, Education, Healthcare, Social)

By End-User

Architect and Engineers

Facility or Construction Managers

Builders and Contractors

By Region

North America (Component; Project Phase; Application, End-User; and Country)

United States (By End-User)

Canada (By End-User)

Mexico (By End-User)

South America (Component; Project Phase; Application, End-User; and Country)

Brazil (By End-User)

Argentina (By End-User)

Rest of South America

Europe (Component; Project Phase; Application, End-User; and Country)

UK (By End-User)

Germany (By End-User)

France (By End-User)

Italy (By End-User)

Spain (By End-User)

Russia (By End-User)

Benelux (By End-User)

Nordics (By End-User)

Rest of Europe

The Middle East & Africa (Component; Project Phase; Application, End-User; and Country)

Turkey (By End-User)

Israel (By End-User)

GCC (By End-User)

North Africa (By End-User)

South Africa (By End-User)

Rest of the Middle East & Africa

Asia Pacific (Component; Project Phase; Application, End-User; and Country)

Japan (By End-User)

China (By End-User)

India (By End-User)

South Korea (By End-User)

ASEAN (By End-User)

Oceania (By End-User)

Rest of Asia Pacific