The global building information modeling market reached a value of US$ 6.0 Billion in 2020 and is expected to reach US$ 13.6 Billion by 2026, growing at a CAGR of 14.5% during 2021-2026. Building information modeling (BIM) refers to software that gives architecture, engineering, and construction (AEC) professionals adequate insights to plan, design, construct and manage buildings and infrastructure. It enables them to collaborate and create an accurate virtual model of a building and exchange data between different project parties. It aids in analyzing the quantitative and qualitative aspects of the construction, such as cost estimation, time requirement, and component procurement. Besides this, it also helps in undertaking operations post project completion, such as maintenance issues and project lifecycle management.
Global Building Information Modeling Market Trends and Drivers: Due to rapid urbanization and a growing population, there is a significant rise in construction activities across the globe. This, in confluence with the increasing infrastructural projects, is positively influencing the sales of BIM solutions. Moreover, there is an increase in the adoption of BIM on account of its numerous advantages over other existing tools, such as CAD systems and paper-based design and modeling. For instance, it facilitates users to create an accurate and precise geometric virtual model with all the components and structures involved. Apart from this, technological advancements enabling data management at remote servers and inter-coordination between users is strengthening the market growth. Factors such as improving construction productivity, increasing trend of the internet of things (IoT) and stringent regulations about the usage of BIM by governments are also fueling the market growth. However, the market is experiencing a decline in the sales of BIM software on account of the surging cases of the coronavirus disease (COVID-19), lockdowns implemented by various countries and consequent halt in construction projects worldwide. The market is expected to experience growth once normalcy is regained.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global building information modeling market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on offering type, deployment mode, application, end use sector, end user and region.
Breakup by Offering Type: Software Services
Breakup by Deployment Mode: On-premises Cloud-based
Breakup by Application: Preconstruction Construction Operations
Breakup by End Use Sector: Commercial Residential Industrial
Breakup by End User: Architects and Engineers Contractors and Developers Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed 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.
Key Questions Answered in This Report: How has the global building information modeling market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global building information modeling market? What are the key regional markets? What is the breakup of the market based on the offering type? What is the breakup of the market based on the deployment mode? What is the breakup of the market based on the application? What is the breakup of the market based on the end use sector? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global building information modeling market and who are the key players? What is the degree of competition in the industry?
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Gross Domestic Product
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