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Building Information Modelling (BIM) Market Research Report - Forecast till 2030

Building Information Modelling (BIM) Market Research Report — By Product (BIM Software, Training services, Project Management), Project Lifecycle (Pre-Construction, Construction and Operation), End-user (Architects) and By Industry — Forecast till 2030

ID: MRFR/ICT/1512-CR | February 2020 | Region: Global | 110 Pages         

Building Information Modelling (BIM) Market

Building Information Modeling Market Size is assumed to expand at a rate not less than 13.63% Compound Annual Growth Rate or CAGR. Moreover, by 2030.

Segmentation

By Product BIM Software Training services Project Management
By Project Lifecycle Pre-Construction Construction and Operation
By End-user Engineers Architect Government
By Industry Entertainment Commercial Industrial Oil and Gas industries Healthcare Sports Residential

Key Players

  • Autodesk (U.S.)
  • AVEVA (U.K.)
  • Bentley Systems
  • Incorporated (U.S.)
  • GRAITEC (France)
  • Intergraph Corporation (U.S.)
  • Data Design System (Norway)
  • IES Ltd. (U.K.)
  • 4M Building Solutions (U.S.)
  • Nemetschek Group (Germany)
  • Trimble Inc. (U.S.)

Drivers

  • Improved quality and Integration
  • Low Risk and High Control
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Building Information Modelling (BIM) Market Overview: 
Building Information Modeling or BIM is a particular software that is utilized in several stages of the execution and planning of various infrastructural projects. The building information modeling market offers engineers, construction consultants, and architects extra tools and funds for building themed buildings based on abstract design. The requirement for blueprints for plumbing, electrical, and medical designs blended with the mandates for adoption of the building information modeling marketMoreover, these multipurpose uses can drive the growth of the building information modeling market during the course of the assessment period till 2030. 



According to the report projected by MRFR or Market Research Future, in the course of the assessment period from 2020 to 2030, the building information modeling market Size is assumed to expand at a rate not less than 13.63% Compound Annual Growth Rate or CAGR. Moreover, by 2030, the building information modeling marketSize would achieve a size of 18.42 Billion USD according to MRFR’s current report. 



  • September 2022- Tech Mahindra has disclosed a partnership with SoftTech in order to digitize the global construction and infrastructure industry. The collaboration will bring together the technological capabilities of Tech Mahindra and the field knowledge of SoftTech to provide customized solutions. The collaboration allows consumers across the corporate as well as government sectors to regulate business operations, boost customer experience, and enhance efficiency by leveraging technologies such as the Internet of Things (IoT), AI (Artificial Intelligence), Metaverse, ML (Machine Learning), Robotics, BIM (Building Information Modelling), Construction Wearables, Digital Twins, Mixed Reality (MR), Augmented Reality (AR), and Virtual Reality (VR). The chief strategy officer and head of growth Tech Mahindra, Jagdish Mitra, said that the construction sector accounts for almost 13% of the global GDP and is needed to constantly innovate and reinvent to become more efficient and lower cost burdens. SoftTech and Tech Mahindra focus on developing more responsible and sustainable solutions for social and environmental impacts within AEC (Architecture-Engineering-Construction) space. He added that both companies would also operate towards cross-skilling, producing a skilled talent pool for innovative and scalable solutions.



Building Information Modelling Market COVID-19 Analysis:
The pandemic scenario has disturbed the supply chain of various raw equipment and materials. It has also hugely impacted the expansion plans of the Building Information Modeling Market Size. Because of the scarcity of equipment and skilled labor, the pandemic has further resulted in the deterioration of the demand for this market. 



However, various digital technologies like analyzing, monitoring, and management of information like worker activities to control the spread of information had favorable effects on the building information modeling market shareThe establishment of efficient surveillance systems at the construction sites for the adherence to security protocols and to prioritize the security of the workers was the other important factor that driven the growth of the building information modeling market share



Various soft wares have formed the BIM collaboration software to serve the purpose of connecting various workers via mobile applications. Also, the outdoor localizations that monitor particular routes present in a construction site can be utilized in monitoring the construction rate of the site and also the productivity of the workers. 



  • September 2022- After recovering from all the losses faced by the company during the pandemic, Hexagon is all set to disclose the acquisition of a provider of Building Information Modelling (BIM) software utilized in industrial, infrastructure, and commercial construction, iConstruct Pty Ltd. iConstruct Pro, the flagship solution is a construction automation tool equipped with hundreds of global customers depending on its benefits. It allows incorporation, control, and accessibility of the wealth of design and construction information carried with various BIM models, compounding all data into a single 3D model. Several stakeholders can sort and customize the model to suit their specific requirements, offering a fully integrated and efficient approach to construction planning and execution. Established in 2009 with headquarters in Perth, Australia, iConstruct functions as an aspect of Hexagon’s Asset Lifecycle Intelligence division.


Building Information Modelling Market Dynamics:
Drivers:
The Building Information Modeling Industry is being increasingly utilized in all the infrastructural projects related to its benefits in speeding up and planning the construction procedures. The construction companies experience a deadline and the governments are taking initiatives in this field. Therefore, these two factors can enhance the rise of the building information modeling market share.

Also, the engineers and architects are able to draw up modified plans by changing some patterns of the existing templates. The development of tunnels, skyscrapers, bridges, and the introduction of security regulations may also drive the worldwide growth of the Building Information Modeling Industry. Also, the tools needed for construction, designing, and management of the basic infrastructure can result in the expansion of the Building Information Modeling Industry. 

Moreover, because of building information modeling market growththis market supports cloud computing services and is extremely skilled to deliver information instantly for speedier communication between numerous consultants in a particular project. The evolution of construction management and project delivery would also facilitate the building information modeling market growth during the course of the assessment period. 



Opportunities:
The foremost one of the fruitful building information modeling market opportunities is the emergence of Information technology and cloud computing. These two would present various new scopes that would result in further building information modeling market growthAlso, the importance of retrieval of information and the concerns for saving the voluminous information has resulted in collaborations among the BIM developers for the development of different solutions that would improve efficiency. 

Various software companies around the world are launching construction cloud connect and construction cloud software for enabling the custom connections that facilitate the modern Building Information Modeling Market Opportunities. There is a wide range of BIM standards that offer the required platform for contractors and designers for seamless project collaboration. Also, it facilitates the rise in global Building Information Modeling Market Demand.



Challenges:
The major challenge of the Building Information Modeling Market Trends is the huge initial spending needed for the procurement of this software. Also, the deployment of the workers may affect the expansion of Building Information Modeling Market Trends. Moreover, training of various services and personnel can create a challenging scenario for the vendors who are part of the Building Information Modeling Market Trends.

Building Information Modelling (BIM) Market Analysis:
According to the BIM market analysis, BIM software is assumed to dominate the market. As expected, it would display a 16.2% CAGR over the assessment period, i.e. 2017 to 2023. The reason behind such domination is the availability of readymade templates in this software that the designers can use to speedily design new buildings. Also, the cloud-native applications would let the designers undergo the planning of the building from their preferred location. Also, the software comprises various solutions for sustainability, structures, facility management, MEP, and architectures. Moreover, the software can offer the visualization of the architects and engineers who are part of the project.



Building Information Modelling Market Segmentation:
According to the global Building Information Modeling Market Analysisthe BIM market can be segmented based on Project Lifecycle, Industry, Product, End-users, and region. 



By Project Life cycle:
Depending on Project Lifecycle, the BIM market can be segmented as: 



  • Operation

  • Pre-construction

  • Construction


By Industry:
According to the Building Information Modeling Market Analysis, depending on the industry, the worldwide BIM market can be segmented into:



  • Entertainment

  • Commercial

  • Industrial

  • Oil and Gas industries

  • Healthcare

  • Sports

  • Residential

  • Others 


By Product:
Depending on the Product, the BIM market can be segmented as: 



By end-users: 
According to the Building Information Modeling Market Analysisdepending on the end-users, the worldwide BIM market can be segmented into: 



  • Engineers

  • Architect

  • Government 


By Region:
Depending on the region, the BIM market can be segmented as: 



  • The Asia Pacific 

  • North America 

  • Africa and The Middle East

  • Europe

  • South America 



  • October 2022- The UK BIM Alliance, the autonomous, not-for-profit organization founded in 2016 to excel in championing the implementation of building information modeling (BIM) in the UK, is switching its name to ‘nima’. The name means thread in Greek and is not an abbreviation. It has been chosen to assist in offering the volunteer-led organisation a set of behaviors, a sense of purpose and an identity better aligned with current and expected future UK thinking about digital working in the built and managed environment.


Building Information Modelling Market Regional Analysis:
According to the Building Information Modeling Market Forecast, the Asia Pacific region is assumed to experience the speediest growth rate during the course of the forecast period i.e. 2018 to 2023. This would happen because of the speedy rise of the revitalization of the finance and real estate sector and also because of the rapid industrialization. Moreover, according to the Building Information Modeling Market Forecast, the introduction of the initiative of the smart city taken by the governments of China and India and utilization of BIM for the extensive planning of these smart cities have also become major reasons behind driving the expansion of BIM market at this region. 



  • October 2022- Just like the US, Japan’s construction sector has witnessed labor shortages, a need for new infrastructure, and slow adoption of technologies. A CAD software vendor established in 1979, Fukui Computer anticipates its recent collaboration with Bentley Systems will assist push the infrastructure field into an age of digital transformation.


Building Information Modelling Market Competitive Landscape:
Various major global players are spending huge means in these regions for the expansion of their reach and the strong establishment of their presence. According to the Building Information Modeling Market Forecast, the worldwide BIM market is monopolistic and some prominent companies are holding major shares of the BIM market. These players are competing based on quality, technology, price, and availability. Besides, because of the increasing Building Information Modeling Market Demand, acquisitions are expected to be seen in the future years as the aim of the players is to expand the market. 



Report Overview:
The MRFR report of worldwide Building Information Modeling Market Demand would provide business intelligence to various BIM industry leaders who are in the competition. The report also offers the prospects of the assessment period, i.e. 2020 to 2030. It has considered the effects of the COVID-19 pandemic and several industry variables for identifying some definite scopes and trends of growth. According to this report, the BIm market growth would be no less than 8,000 Million CAGR by 2030.



Scope of report and segmentation table: 



  • Base year – 2019

  • Forecast period – 2020-2030

  • Historical data - 2018



Report Scope:

Report Attribute/Metric Details
  Market Size   18.42 Billion USD
  CAGR   13.63%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Project Lifecycle
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   Autodesk (U.S.) AVEVA (U.K.) Bentley Systems Incorporated (U.S.) GRAITEC (France) Intergraph Corporation (U.S.) Data Design System (Norway) IES Ltd. (U.K.) 4M Building Solutions (U.S.) Nemetschek Group (Germany) Trimble Inc. (U.S.)
  Key Market Opportunities   The foremost one of the fruitful Building Information Modeling Market Opportunities is the emergence of Information technology and cloud computing.
  Key Market Drivers   The Building Information Modeling Industry is being increasingly utilized in all the infrastructural projects related to its benefits in speeding up and planning the construction procedures.


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Frequently Asked Questions (FAQ) :

The global business information modelling market is poised to witness substantial growth and record a significant market value from USD 3000 Million in 2017 to more than USD 18.42 Billion by 2030, at a moderate CAGR of 13.63% over the review period (2020 to 2030).

The rising population and rapid urbanization across the globe, growing BIM trends, and growing BIM adoption are the major factors contributing to the growth of the building information modeling market.

The regional analysis of the global BIM market has been carried out in five major regions, namely, North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa. The Asia Pacific is slated to dominate the market share over the review period.

The segmentation of the global business information modelling (BIM) market is done on the basis of product, project lifecycle, end-user, and industry.

Global Building Information Modelling Market: Competitive Landscape


Autodesk Inc., Hexagon AB, Aveva Group Plc, Dassault Systèmes, Nemetschek SE, Bentley Systems, Trimble Inc, Asite Limited, RIB Software SE, and Archidata Inc. constitute the key players of the global building information modelling market as of 2017. These companies continue to retain their strong global hold through expansion, mergers & acquisitions and offering an extensive product portfolio. Dassault Systèmes, Aveva Group Plc, Hexagon AB, Trimble Inc, and Autodesk Inc.are some of the major companies in the market, competing in terms of availability, quality, price, and technology. They primarily focus on the development of sophisticated BIM solutions. Although international players are dominating the market, and regional players with small market shares also have a considerable presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period.


In 2017, Dassault Systèmes was the leading player in the market.  Dassault Systemes SA is a France based company and one of the leading providers of product lifecycle management (PLM) solutions. Dassault Systemes provides applications deployed on their 3DEXPERIENCE platform, enabling design and engineering, manufacturing and production, simulation, governance & lifecycle, 3D design experience for professionals, and other solutions and processes. The company relies on organic and well as inorganic business approach. Organically, the company is focused on investing more on strengthening their 3DEXPERIENCE platform.


 Aveva Group Plc. held the second position regarding market share, in 2017. AVEVA Group PLC. is a British Multinational Information Technology company involved in providing engineering, design, and information management software solutions to the process industries, as well as power and marine industries. The company has prioritized their strategy in four different areas including the area of core sales of 3D plant and marine, expansion of their business in energy and power generation companies, focus on covering the emerging markets generating more than 50% of the revenue, and expansion of oil & gas sector.


Hexagon AB (Hexagon) has established itself as one of the well-known providers of sensors and software solutions for various industries including agriculture, mining, construction, aerospace, and defense, acquiring the third spot in terms of market share. The company’s strategy is a fourfold approach. Firstly, a solution-centric approach which focuses on offering a portfolio that ultimately enables customers to create intelligent information ecosystems. The second approach is strongly backed by the acquisition of high-tech software companies that fit well with Hexagon’s long-term strategy. The third approach is investing in technologies that complement and accelerate their research & development efforts. Lastly, the company focuses on mergers and acquisitions which aims to create growth as well as ensure better collaboration between each unit and expand their customer base.


Trimble Inc. holds the fourth place in building information modelling market. Trimble, Inc. is the leading provider of positioning, wireless and software technology solutions. The company operates through four business division namely geospatial, resources & utilities, buildings & infrastructure, and transportation. The buildings & infrastructure division offers their solution to architects, engineers, contractors, owners, and operators. The company is focused on both organic and inorganic growth approach. The company is planning to develop a number of smaller emerging markets such as forestry, electrical and water utilities, rail, and field service.


Autodesk Inc. ranks fifth in building information modelling market. Autodesk, Inc. is a U.S. based multinational software company. The company is involved in designing and developing various software and services utilized in various verticals that include automotive, transportation, industrial machinery, consumer products, and among others. The company’s products portfolio comprises Autodesk 360 cloud services, AutoCAD Civil 3D & LT, 3Ds Max, Maya, and Revit.


The company is focused on both organic and inorganic approaches. The company is focused on providing solutions to enable their customers to be more agile and collaborative on their projects.


The other players include building information modelling is Archidata Inc, Bentley Systems, Asite Limited, RIB Software SE, and Nemetschek SE.