Building Information Modelling (BIM) Market Research Report - Forecast till 2027

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 2027

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

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. Building Information Modeling (BIM) Market offers engineers, construction consultants, and architects extra tools and funds for building the 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 (BIM) Market. Moreover, these multipurpose uses can drive the growth of the Building Information Modeling (BIM) Market during the course of the assessment period till 2023. 



According to the report projected by MRFR or Market Research Future, in the course of the assessment period from 2018 to 2023, the Building Information Modeling Market Size is assumed to expand at a rate not less than 14.92% Compound Annual Growth Rate or CAGR. Moreover, by 2023, the Building Information Modeling Market Size would achieve a size of 8,000 Million USD according to MRFR’s current report. 



Building Information Modelling (BIM) 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 Share. The 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 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. 



Building Information Modelling (BIM) 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 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 Building Information Modeling Industry. 

Moreover, because of Building Information Modeling Market Growth, this 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 Growth. Also, 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 (BIM) Market Segmentation:

According to the global Building Information Modeling Market Analysis, the 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: 



  • BIM Training Services 

  • BIM Software 

  • Project Management 


By end-users: 
According to the Building Information Modeling Market Analysis, depending 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 


Building Information Modelling (BIM) 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. 



Building Information Modelling (BIM) 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. 2017 to 2023. 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 2023.



Scope of report and segmentation table: 




  • Base year – 2017

  • Forecast period – 2017-2023

  • Historical data - 2017



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Frequently Asked Questions (FAQ) :


The global business information modelling (BIM) market is poised to witness substantial growth and record a significant market value from USD 3000 Million in 2017 to more than USD 8000 million by 2024, at a moderate CAGR of 14.9% over the review period (2017 to 2023).

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 business information modeling (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.

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.


Regional Analysis


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.


Competitive Tracking


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.