New York, USA, June 27, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Building Information Modelling (BIM) Market Information Deployment Mode, By Component, Project Lifecycle, By End User and By Region – Market Forecast Till 2030”. The Building Information Modelling (BIM) Market could thrive at a rate of 14.9% between 2022 and 2030. The market size will be reaching around USD 25.61 Billion by the end of the year 2030.
Market Overview:
One of the main factors driving the growth of the BIM market is the increasing number of government mandates and policies for the adoption of rapid urbanisation and expanding digitization in the building sector. Additionally, there were considerable disruptions in the import and export of materials and equipment in the building and engineering sector. Contractors from all over the world claimed that COVID-19 had caused project delays.
In 2021, the Building Information Modelling (BIM) Market Size was estimated to be worth USD 7.26 billion. Building Information Modelling (BIM) market revenue is anticipated to increase from USD 8.41 billion in 2022 to USD 25.61 billion in 2030, with a compound yearly growth rate (CAGR) of 14.9% over the five-year forecast period (2022–2030).
Other reasons for project site closures besides those imposed by the government include delays in the delivery of supplies and equipment, the need to find new employees, project owners cancelling or rescheduling their plans, and difficulties obtaining the required permits and inspections due to the shrinking availability of government offices, which has an effect on the BIM market.
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Key Companies in the Building Information Modelling (BIM) market include,
- Autodesk Inc.
- Hexagon AB
- Trimble Inc.
- Dassault Systemes SA
- Nemetschek SE
- Bentley Systems
- Aveva Group PLC
- Rib Software SE
- Archidata Inc.
- Asite.
- Procore Technologies, Inc.
- Arcadiasoft
- Acca Software
- Beck Technology Ltd
Scope of the Report - Building Information Modelling (BIM) Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 25.61 Billion |
| CAGR during 2022-2030 | 14.9% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Key Market Opportunities | Rapid Technological Advancements Increase In Demand For Green Buildings |
| Key Market Dynamics | Growing Number Of Government Mandates And Policies For The Adoption Of BIM Rapid Urbanization Fueling The Implementation Of The BIM Growing Digitalization In The Construction Industry |
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The utilisation of technologies, single source of truth, digital collaboration, future-proof designs, and building are some of the aspects that are driving digitalization in the construction industry. BIM software offers each of these elements, leading to a better adoption rate. For example, if a building is created using BIM software and its information is recorded in the BIM model, this data may be exchanged across all the stakeholders utilising the cloud.
To prevent errors during the real building process, the building is first constructed digitally. Low productivity in the industry is a concern that is addressed by digital construction. By utilising BIM technologies, this makes it possible for processes to be integrated across the whole lifecycle. Therefore, as the construction sector becomes more digital, BIM software use increases, which in turn propels market growth.
Browse In-depth Market Research Report (110 Pages, Charts, Tables, Figures) on Building Information Modelling (BIM) Market -
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Segmentation:
The BIM market has been divided into BIM software and BIM services based on component. The market's highest market share belongs to BIM software. A BIM software is a 3D design and modelling programme that aids the user in streamlining design tasks for building, civil, architectural, plant, and MEP projects.
The BIM market has been divided into three segments based on the project lifecycle: pre-construction, construction, and operation. The market's highest market share is anticipated to belong to the pre-construction category. The segment predicted to expand with the highest CAGR is operations, though. The conceptual stage, design stage, and pre-construction stage are additional divisions of the pre-construction phase (Bidding & Selection of GC).
The BIM market has been divided into on-premise and on-cloud segments based on deployment model. On-premise now has the largest market share and is predicted to grow at the highest CAGR.
The BIM market has been divided into sections for the government, architects, engineers, contractors, facility managers, maintenance professionals, academics, and owners based on the end users. The sector of architects is anticipated to have the biggest market share.
The use of BIM by architects aids in enhancing the design process and quality.
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America make up the different BIM market segments. North America dominates the BIM market. The market in North America has been principally supported by mandatory laws established by the governments in the region to utilise BIM software for construction projects, notably projects linked to public infrastructure. In the upcoming years, the BIM market is anticipated to be driven by the presence of major players like Autodesk, Trimble, and Bentley Systems as well as a strong focus on developing modern infrastructure facilities in the area.
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Due to the region's expanding construction industry and the high demand for these software products among building owners, architects, and contractors, Europe holds the second-largest market share in the global BIM market. The market is anticipated to continue to rise as a result of the expanding urbanisation, which includes smart cities and green construction concepts. Additionally, the majority of governments in European nations have made BIM mandatory for public projects, encouraging the usage of BIM software tools.
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