Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-01-20
As per Business Intelligence Insights (BII) study, the global Global Building Information Modeling Market attained revenue growth of USD 5.10 billion in 2021 and it is projected to reach around USD 10.1 billion by 2028, growing at a 11.90% CAGR.
With the increasing growth of the global population, demand for residential space has increased, with various governments throughout the world giving incentives to help this sector thrive. Residential structure design is a prospective growth sector for the BIM industry since companies all over the world are utilising BIM to better their operations. High costs, the need for frequent maintenance, and a lack of technical expertise are all obstacles to the building information modelling market's growth. Because BIM is such a critical tool, even minor design flaws can lead to severe workplace mishaps. As a result, one of the major roadblocks to the BIM market's expansion is a scarcity of technical skills.
By developing a 3D model of buildings, infrastructure, and other items, AEC professionals can plan, design, construct, and manage projects. BIM is the process of creating and managing digital representations of a location's physical and functional characteristics, as well as the representation of data through objects in the form of designs. The BIM market is being propelled forward by rising urbanisation and infrastructure projects, improved BIM benefits for the AEC industry, and growing government mandates for BIM adoption. The initial high cost of BIM, however, is limiting the market's growth. The expanding use of AR/VR, the rapid acceptance of Green BIM, rising IoT trends, and developing BIM trends are expected to provide growth chances for BIM market participants throughout the forecast period.
Building Information Modeling Market: Companies Mentioned
• Bentley Systems
• Dassault Systemes
• Rib Software
• ACCA Software
• Procore Technologies
• Beck Technology
• Computers And Structures
• Robert Mcneel & Associates
• M Company
• CCT International
Key Highlights of the Report
• In 2021, the market for Building Information Modeling was dominated by software as a offering type. The market share is more than 55%. BIM software solutions offer interoperability between programmes, easy visualisation, and cost-effectiveness. The BIM software suite provides solutions for architectural, sustainability, structural, mechanical, electrical, and plumbing (MEP), construction, and facility management throughout the whole life cycle. BIM software options on the market include Autodesk Revit Structure, Graphisoft ArchiCAD, Nemetschek ALLPLAN Architecture, Bentley Facilities Manager, and Tekla Structures. 3D BIM is increasingly being used by professionals in the domains of architecture, engineering, and construction (AEC). BIM software's best features include 3D project visualisation, cost and time savings, and the ability to make design changes fast.
• Building Information Modeling can be used during the Preconstruction, Construction, and Operation phases of a project. Preconstruction is the most prevalent project lifecycle in the global Building Information Modeling market. This particular market has a market share of more than 38%. BIM is used in the pre-construction (design), construction, and operation phases of a building project. It combines all aspects of a building project into a single bundle. If a problem arises, users working on different phases can refer to data from a specific project to avoid cost overruns. BIM is used in maintenance, for example, to assist plumbers and electricians in locating pipes and wires so that unnecessary damage to walls, floors, and ceilings is avoided.
• In 2021, BIM has a large market in North America, which includes the United States, and Canada. This area was one of the first to implement advanced BIM technology, a recently established revolutionary method of design and construction. This strategy has become widespread in the construction industry in North America. There are a number of specialists in this region who employ BIM in their projects. BIM is gradually being adopted by contractors, engineers, and architects, and the number is rapidly growing. They employ the BIM process to boost project efficiency during the design and construction phases, decrease project-related errors, and generate a high return on investment.
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Revenue-generating Segment Highlights
By Deployment Type
• On Premises Deployment
• Cloud Deployment
By Offering Type
By Project Lifecycle
• Civil Infrastructure
• Oil & Gas
By End User
• AEC Professionals
• Consultants & Facility Managers
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa (MEA)
Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Building Information Modeling Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –
• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?
The Building Information Modeling Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Building Information Modeling Market Forecast Report 2022- 2028 - Order Now!
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