According to the recent report by IMARC Group, titled “Building Information Modeling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global building information modeling market size reached US$ 6.5 Billion in 2021. Building information modeling (BIM) refers to a 3D model-based software that provides critical insights and tools to architecture, engineering, and construction (AEC) professionals. It helps to efficiently plan, design, construct and manage buildings. This software enables AECs to make a digital representation of the functional and physical aspects of the premises and exchange data between respective project parties. BIM aids in efficient decision-making regarding cost estimations, component procurement, and required time. It also helps in completing operations after project completion, such as project lifecycle management and maintenance issues.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Building Information Modeling Market Trends:
The global BIM market growth can be attributed to rapid urbanization and the growing population, which have led to an increase in construction projects across the globe. Additionally, BIM offers numerous advantages, such as paper-based design and modeling and CAD systems, which are contributing to the market growth. Various technological advancements enabling inter-coordination between users and data management at remote locations are propelling the market growth further. The emerging trend of the Internet of Things (IoT) and stringent building codes are driving the market toward growth significantly. Other factors, such as an increasing number of infrastructural projects across both developed and developing economies, are creating a positive outlook for the market further. Looking forward, the market is expected to reach US$ 15.4 Billion by 2027, growing at a CAGR of 15.63% during 2022-2027.
- On the basis of the offering type, the market has been divided into software and services.
- Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based.
- Based on the application, the market has been segmented into preconstruction, construction, and operations.
- On the basis of the end use sector, the market has been categorized as commercial, residential, and industrial.
- Based on the end user, the market has been classified into architects and engineers, contractors and developers, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The report has also analyzed 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.
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