ID: MRFR/ICT/1512-CRR | February, 2017 | Region: Global | 110 pages | Cooked Research Reports
Global Building Information Modelling 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 2023
Building Information Modelling (BIM) is being viewed as a revolutionary technology for the construction sector not only because of its vast ranging functional capabilities but also due to the low risk and high control of operations provisioned by it. The global market for BIM is currently valued at over USD 3000 Mn and is likely to surpass the USD 8000 Mn mark by the end of 2023, reflecting an impressive CAGR of 14.9% during the assessment period. BIM is being increasingly used in mega infrastructure projects such as railways, residential complexes, roads etc. By using BIM, architects and engineers are able to obtain digital database of construction sites, which allows them to modify or change design of structures. In addition, introduction of stringent building safety regulations is likely to support the adoption of BIM in the coming years. However, the high initial cost of setup is limiting BIM’s prospects in infrastructure projects that face budget constraints.
This MRFR report presents a comprehensive observation on the market opportunities for building information modelling (BIM), highlighting the current application range in domains such as residential commercial, healthcare, entertainment, sports, industrial and Oil & Gas. It discusses the current threats and growth drivers for the market as well as industry trends that are likely to remain prominent during the forecast period. The research scope in the report extends to market sizing based on different types of BIM products such as BIM Software, BIM Training services, BIM Project Management. A revenue assessment on the basis of project lifecycle (pre-construction, construction, and operation) is also available in the report. The major end-users covered in the report include government, engineers, and architects. This report on global BIM market includes a region based forecast, which covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).
The report on global building information modelling market report covers historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter's five forces analysis of the market.
Autodesk Inc., Hexagon AB, Aveva Group Plc, Dassault Systèmes, Nemetschek SE, Bentley Systems, Trimble Inc., Asite Limited, RIB Software SE, and Archidata Inc.
Market Research Future (MRFR) employs fail-safe approaches that are supported by advanced analytical tools for drawing an insightful representation of key market dynamics. Our analysts consider every parameter related to a market for accurate identification of opportunities and threats present in it. Top-down and bottom-up approaches employed validate the accuracy of the market size estimation. Our statistical observations are derived from the data collected through extensive primary and secondary research, which includes interviews with industry opinion holders, white paper references, SEC filings, and annual reports among others. A multi-layer verification process ensures the delivery of an impactful intelligence. Emphasis is placed on delivering reliable assessments to empower our clients with authenticated market information for making informed decisions.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for building information modelling
By Project Lifecycle
The global building information modeling (BIM) market is poised to witness a CAGR of 14.9% during the forecast period of 2018 to 2023. This projection indicates above average and consistent growth for the market. Valued at USD 3065.5 million in 2017, the global BIM market is expected to reach an estimated evaluation of USD 8123.5 million by the end of 2023.
Across the globe, government bodies are promoting the use of BIM for all construction projects. Initiatives and assistance in BIM implementation strategies are being undertaken to increase the adoption of BIM in the AEC industry. For instance, the government of Singapore mandated BIM e-submissions for all building projects greater than 16,404.2 square feet in 2014. Additionally, the Singapore government has subsidized BIM training by up to 50%, and many universities and polytechnic colleges in Singapore are involved with BIM training and education. Another key factor driving the growth of the BIM market is the increase in productivity and efficiency such platforms offer. Building information modeling assists in project planning, decision making support, management support and information sharing between relevant parties. It reduces time consumption, minimalizes costs, and helps in controlling and reducing waste that is associated with the traditional alternatives.
The high cost associated with the purchase and deployment of the software in the initial set-up stage is expected to pose a challenge to market growth. However, due to the support from the government, and R&D activities to further improve the technology is presenting new paths which offer market expansion opportunities. One such opportunity the market is presented with is the increasing adoption of cloud-based computing. Cloud computing has made its mark across various industry verticals and is expected to be a significant trend in the BIM market. There is a high importance placed on management and retrieval of data as misplacement of data may result in major losses in time, money and other resources. This is has given rise to collaborations between market leaders in order to present cloud computing solutions integrated into BIM software to increase efficiency in retrieval and management of vital data.
The global building information modeling (BIM) market is segmented on the basis of product, project lifecycle, end-user, industry, and region. By product, the market is segmented into BIM Software, BIM Training services, and BIM Project Management. The BIM software segment leads the market with the largest share and is expected to witness the highest CAGR of 16.2% during the assessment period due to the high demand for skilled labor which is lacking, thus leading the AEC industry to turn to automated construction process using BIM software. Moreover, with a global emphasis on efficiency and minimization of overhead costs has led to the increased demand for BIM software.
By Project Lifecycle, the market is segmented into Pre-Construction, Construction, and Operation. Presently, the pre-construction segment dominates the market due to the extensive use of BIM for design (D-BIM) which is a critical stage in the project lifecycle as it defines the blueprint the project will use. However, the construction segment is expected to be the fastest growing segment and will witness a CAGR of 17.3% during the review period due to the rapid increase in construction activities and the growing importance on the management of data during a construction project.
By End-user, the market is segmented into Government, Engineers, and Architects. Engineers accounted for the largest segment and is expected to maintain its position with an estimated value of USD 2960.9 million by the end of 2023. Meanwhile, the architect segment is expected to be the fastest growing segment during the review period.
By Industry, the market is segmented into Residential, Commercial, Healthcare, Entertainment, Sports, Industrial, Oil & Gas industries, and others. The commercial segment accounts for the largest share of the total market and is slated to experience the fastest growth at the highest CAGR of 18.3% during the assessment period. The entertainment segment is the second largest segment and valued at USD 574.2 million in 2017.
North America represents the largest region in the global BIM market and is closely followed by Europe. These regions have high disposable incomes which have led to the demand for commercial and residential construction. Moreover, there is a high adoption rate in these regions concerning technological and digital advancements thus driving government interest in construction projects and the increasing adoption and implementation of BIM products.
Meanwhile, the Asia-Pacific is expected to be the fastest growing region due to the deployment of smart city initiatives in emerging economies such as India, China and others are encouraging players in the AEC industry to implement BIM solutions to maximize efficient planning of these cities. Moreover, international market players, recognize the opportunities the untapped market in the region represent and are investing in strengthening their presence in the Asia-Pacific and the Middle East.
In the course of market study, prominent players participating in the competitive market have been revealed and analyzed including players such as Aveva Group Plc, Nemetschek SE, Bentley Systems, Asite Limited, RIB Software, Trimble Inc., Autodesk Inc., Archidata, and Hexagon AB.
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.