CHICAGO, July 11, 2024 /PRNewswire/ -- The report
Building Information Modeling Market is projected to
reach from USD 8.0 billion in 2024 to
USD 14.8 billion by 2029; it is
expected to grow at a CAGR of 13.1% from 2024 to 2029 according to
a new report by MarketsandMarkets™. The increasing demand
for BIM solutions is attributed to advanced sustainability with BIM
and rapid rise in urbanization globally.
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Browse in-depth TOC on "Building Information Modeling
Market"
150 – Tables
70 – Figures
250 – Pages
Building Information Modeling Market
Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 8.0 billion
|
Estimated Value by
2029
|
$ 14.8 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 13.1%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Offering, Deployment
Type, Project lifecycle, End User, Application and
Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Complying with BIM
standards across multiple geographies
|
Key Market
Opportunities
|
Integration of VR and
AR technologies with BIM solutions
|
Key Market
Drivers
|
Enables building
management systems and facility management systems
|
By Offering Type: Service segment is projected to grow at the
highest CAGR during the forecast period.
BIM as a Service (BIMaaS) allows for real-time access to
BIM models and data via internet connectivity, facilitating
enhanced collaboration among project teams, stakeholders, and
partners irrespective of their geographic locations. This
accessibility fosters seamless communication and decision-making
across distributed teams. Moreover, BIMaaS providers offer
customizable services tailored to meet specific project needs,
including capabilities such as 3D modeling, clash detection,
scheduling, cost estimation, and facility management. This
flexibility empowers organizations to choose and pay for precisely
the services required, optimizing resource allocation and budget
management effectively.
By Project lifecycle: Preconstruction to account for the
highest CAGR during the forecast period.
The pre-construction segment holds the largest market share in
the building information modeling (BIM) market. Utilizing BIM
during the pre-construction phase can increase construction speed
and lower costs, as well as decrease on-site rework and material
waste, contributing to environmental sustainability. By identifying
and addressing clashes and issues before construction starts, BIM
helps ensure a smoother and more efficient construction
process.
By Deployment Type: The cloud-based BIM solutions is
projected to register the highest CAGR during the forecast
period.
Cloud-based BIM solutions integrate effortlessly with other
cloud-based tools and services, such as project management
software, data analytics platforms, and IoT devices. This
integration boosts the overall functionality and efficiency of BIM
workflows. Additionally, cloud service providers manage software
updates, maintenance, and security patches, ensuring users always
have access to the latest features and improvements without
requiring manual intervention.
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By Region: North America to
hold larger market share in 2023.
North America holds a
significant share in the building information modeling (BIM)
industry, with the market encompassing the US, Canada, and Mexico. Leading companies driving this market
include Autodesk Inc., Bentley Systems, Trimble Inc., Procore
Technologies, Inc. The US is expected to lead the BIM market
in North America. It hosts several
tier 1 companies and is at the forefront of adopting advanced
digital systems within the infrastructure sector. This leadership
position underscores the region's robust adoption of BIM
technologies across various construction and engineering
projects.
Key Players
The major players in the building information modeling
companies include Autodesk Inc. (US), Nemetschek Group
(Germany), Bentley Systems,
Incorporated (US), Trimble Inc. (US), Dassault Systèmes
(France).
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