Building Information Modeling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Building Information Modeling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global building information modeling market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.4 Billion by 2027, exhibiting a CAGR of 15.63% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Building information modeling (BIM) refers to software that gives architecture, engineering, and construction (AEC) professionals adequate insights to plan, design, construct and manage buildings and infrastructure. It enables them to collaborate and create an accurate virtual model of a building and exchange data between different project parties. It aids in analyzing the quantitative and qualitative aspects of the construction, such as cost estimation, time requirement, and component procurement. Besides this, it also helps in undertaking operations post project completion, such as maintenance issues and project lifecycle management.

Global Building Information Modeling Market Trends and Drivers:
Due to rapid urbanization and a growing population, there is a significant rise in construction activities across the globe. This, in confluence with the increasing infrastructural projects, is positively influencing the sales of BIM solutions. Moreover, there is an increase in the adoption of BIM on account of its numerous advantages over other existing tools, such as CAD systems and paper-based design and modeling. For instance, it facilitates users to create an accurate and precise geometric virtual model with all the components and structures involved. Apart from this, technological advancements enabling data management at remote servers and inter-coordination between users is strengthening the market growth. Factors such as improving construction productivity, increasing trend of the internet of things (IoT) and stringent regulations about the usage of BIM by governments are also fueling the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global building information modeling market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on offering type, deployment mode, application, end use sector and end user.

Breakup by Offering Type:

Software
Services

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Application:

Preconstruction
Construction
Operations

Breakup by End Use Sector:

Commercial
Residential
Industrial

Breakup by End User:

Architects and Engineers
Contractors and Developers
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd., AECOM, Autodesk Inc., Aveva Group Plc (Schneider Electric), Beck Technology Ltd., Bentley Systems Incorporated, Dassault Systèmes SE, Hexagon AB, Nemetschek SE and Trimble Inc.

Key Questions Answered in This Report:

How has the global building information modeling market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global building information modeling market?
What are the key regional markets?
What is the breakup of the market based on the offering type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use sector?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global building information modeling market and who are the key players?
What is the degree of competition in the industry?