|Status : Published
|Published On : Sep, 2023
|Report Code : VRSME9105
|Industry : Semiconductor & Electronics
|Available Format :
|Page : 300
The Market for Building Information Modelling is anticipated to increase significantly, going from $ 5.8 billion in 2023 to $13.3 billion in 2030. It will register a CAGR of 12.7% during the forecast period. The increasing demand for sustainable buildings, the growing need for improved project coordination and cooperation, and the expanding use of BIM by government agencies are driving the growth of the BIM market. The building information modelling (BIM) market is the industry dealing with the adoption, implementation, and use of BIM software & solutions in the architectural, engineering, and construction (AEC) sector. BIM is a digital representation of a building's or infrastructure project's physical and functional qualities. It includes the generation and maintenance of 3D models, as well as the integration of design, construction, and operating data and information.
The Building Information Modeling (BIM) market is experiencing significant growth due to factors like urbanization, population growth, and infrastructure development. It is becoming an essential tool in the construction process, enabling better collaboration and communication among market players, leading to improved project outcomes and reduced costs. Government initiatives and regulations promote BIM adoption to enhance efficiency, sustainability, and safety. BIM facilitates better project planning, visualization, and coordination, resulting in cost and time savings. It helps identify design conflicts and construction issues before they occur, reducing rework and delays.
Moreover, BIM is being integrated with emerging technologies like VR, AR, and AI to enhance visualization, simulation, and analysis capabilities. The construction industry is also focusing on sustainability and energy efficiency, with BIM enabling energy analysis tools and sustainability assessments to optimize performance.
Insight by Components
The market is divided into two components: software and services. Because of the rising demand for Building Information Modeling (BIM) software solutions, the software category is expected to have the highest CAGR during the forecast period. BIM software enhances building design, construction, and operation, offering benefits like compatibility, simplicity, and cost-effectiveness. It is used by architects, engineers, contractors, and owners, helping identify potential problems and make informed decisions about asset future. This growth is expected to significantly impact the construction industry.
Insight by Deployment Mode
The market is divided into two segments based on deployment: cloud and on-premise. The cloud deployment category is expected to grow considerably throughout the forecast period. This is due to a growing desire for cloud-based BIM solutions that can be accessed from anywhere. On-premise BIM software offers benefits such as data control, better performance, and customization, making it ideal for organizations requiring regulatory compliance or sensitive data protection. It's not reliant on internet connectivity and can be customized to meet specific needs also organizations have complete control over the on-premise data flow.
Insight by Project Lifecycle
Based on Project Lifecycle, the market is segmented into preconstruction, construction, and operations. The preconstruction segment leads the BIM industry, accounting for over half of the entire market share. This is because BIM may be utilized to increase the efficiency and precision of the preconstruction process, resulting in considerable cost and time savings. This section contains pre-construction processes such as conceptual design, schematic design, design development, and construction documentation.
Insight by Application
Based on the application, the market is categorized into commercial, residential, and industrial. Commercial buildings, such as office buildings, retail stores, hotels, and hospitals, are the largest segment of the building information modelling (BIM) market due to their complexity and specialized software requirements. BIM software can create 3D models of these buildings, visualize the design, identify potential issues, generate construction documentation, manage projects, track maintenance and repairs, and make informed decisions about the asset's future.
Insight by End-Users
Based on end-users, the market is segmented into contractors, architects, facility managers, and others. The architects' category is the largest end-user segment in the commercial building BIM industry. This is because architects are responsible for the design of commercial buildings, and they use BIM software to construct accurate and realistic models of their plans. Architects implement BIM software to construct 3D models of commercial structures. These models may be used to illustrate the design, detect possible difficulties, and provide construction documentation.
Global Building Information Modeling Market Report Coverage
2018 - 2023
Base Year Considered
2025 - 2030
Market Size in 2023
U.S.D. 5.8 Billion
Revenue Forecast in 2030
U.S.D. 13.3 Billion
Segments Covered in the Report
By Components, By Deployment Mode, By Project Lifecycle, By Application and By End-Users
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report
North America, Europe, Asia-Pacific, Middle East, and Rest of the World
Building Information Modeling (BIM) is a technique that drives digitalization in the construction sector by collecting information in a model, using technology, having a single source of truth, digital collaboration, and future-proof design and construction. BIM software provides each of these qualities, resulting in greater acceptance. For example, if a building is created with BIM software and its information is captured in the BIM model, this data may be shared utilizing the cloud by all parties involved. To avoid problems during the real construction process, the structure is first created digitally. The use of digital construction solves the industry's low productivity. Using a BIM system, this allows for the integration of processes across an entire duration. As a result, increasing digitization in the construction sector boosts the usage of BIM software, increasing market growth.
The lack of understanding and awareness of building information modeling (BIM) is a significant obstacle to its market growth. BIM is a complex technology, requiring a deep understanding of building design, construction, and engineering. It has not yet gained widespread adoption in the construction industry, and there is a lack of marketing and education efforts to raise awareness. This lack of understanding can lead to organizations not being aware of the benefits of BIM and not being confident in their ability to use BIM software effectively. This can result in organizations delaying or abandoning their plans to adopt BIM. Therefore, organizations must address this issue to ensure the successful implementation of BIM projects.
The growing use of Building Information Modeling (BIM) for safety measures presents a significant opportunity for the BIM market. BIM can help identify and mitigate safety risks in building design, construction, and operation, leading to safer buildings and fewer accidents. BIM can identify clashes between building elements, model hazards, generate safety documentation, and train workers on safety procedures. By preventing accidents during construction, modeling hazards, and generating safety documentation, BIM can help develop mitigation strategies and reduce the number of accidents. This increased demand for BIM software and services will benefit the BIM market, as it helps to make buildings safer and reduce accidents.
North America is the largest BIM market. This is owing to the region's mature building sector and the rising use of BIM by government agencies and corporations. Building Information Modeling (BIM) has become an essential tool in the engineering and architecture sectors due to private investment and government efforts to encourage infrastructure spending. Intelligent 3D model-based processes are needed by businesses specializing in BIM. The GIS industry is rapidly disrupted as the design and construction industry transitions from 2D to 3D BIM. Major BIM vendors, such as Katerra, integrate BIM with other trends like geospatial information systems to simplify ordering, manufacturing, tracking, and delivery of materials. General contractors are also using BIM for coordinating, adding construction layout points, and enhancing field accuracy.
Moreover, during the projected period, the Asia Pacific region is also predicted to be the fastest-expanding BIM market. This is owing to the region's rapidly expanding building sector.
The industry players in the building information modeling market are implementing several strategies to be in the forefront position. Some of the strategies being adopted by the key players include acquisition, collaboration, and alliances. Moreover, these companies are investing heavily in research and development to develop innovative BIM solutions.
In April 2023, 3D Repo, a pioneer in cloud-based Building Information Modelling (BIM) collaboration software, has been acquired by Asite. The acquisition strengthens Asite's position in the digital engineering market, offering a comprehensive suite of solutions for the construction industry. The combined company will provide real-time collaboration on BIM models, data management, project management, supply chain management, and asset management. The acquisition is expected to accelerate the adoption of BIM in the construction industry, making it more accessible and affordable for businesses of all sizes.
In Jan 2023, Schneider Electric announced the completion of its acquisition of AVEVA. The AVEVA-Schneider Electric partnership offers a broad portfolio of industrial software solutions, deep expertise, global reach, increased innovation, and enhanced customer experience. With customers in over 100 countries, the combined company is well-positioned to accelerate digital transformation and achieve sustainability goals. It also provides a seamless and integrated experience for customers.
Recent Development by Key Players
In May 2023, Autodesk, Inc. released the initial set of Autodesk Forma capabilities. Contextual modeling in Autodesk Forma streamlines the process of starting a new building information modeling (BIM) project. This launch aided the company's expansion into the building information modeling sector.
In November 2022, Bentley Systems launched its new iTwin platform. iTwin is a cloud-based platform that uses BIM data to create a digital twin of a building or infrastructure asset. This digital twin may be used to simulate asset performance and identify potential issues.
Key Players Covered in the Report
Some of the major players operating in the Implantable loop recorders industry include Bentley System, Trimble Ltd., Incorporate, Hexagon AB, Autodesk Inc., Asite Solutions, Schneider Electric, Pentagon solution ltd., Dassault System, and Aveva Group plc.
The Building Information Modeling Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.
Segments Covered in the Report
Region Covered in the Report