Building Information Modeling (BIM) Market Size 2024 To 2032

·         The global building information modeling (BIM) market size reached USD 8.6 Billion in 2023.

·         The building information and modeling bim market size is expected to reach USD 28.4 Billion by 2032, exhibiting a growth rate (CAGR) of 13.7% during 2024-2032.

·         North America leads the market, accounting for the largest building information modeling (BIM) market share.

·         Software accounts for the majority of the market share in the offering type segment because there is a great need for sophisticated modeling, simulation, and design tools.

·         On-premises holds the largest share in the building information modeling (BIM) industry.

·         Preconstruction remains a dominant segment in the market because early project planning, cost estimation, and design collaboration all depend on BIM.

·         Commercial represents the leading end-use sector segment.

·         Architects and engineers account for the majority of the market share in the end-user segment because their main responsibility is to plan and organize construction projects.

·         The adoption of cloud-based BIM solutions by enabling real-time collaboration and remote access for construction teams across different locations is impelling the market growth.

·         Additionally, the integration of BIM with advanced technologies like the Internet of Things (IoT) and artificial intelligence (AI) is expanding its applications, allowing for predictive maintenance and smarter facility management in building projects, strengthening the market growth.

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Industry Trends and Drivers:

·         The push for efficient project management in construction:

A strong need for efficient project management in the construction industry is one of the leading factors driving the BIM market. Construction projects are highly complex, involving multiple teams, large datasets, and various stages, all of which require effective coordination to minimize time and cost overruns. BIM provides a centralized digital model of a building's physical and functional characteristics, which allows stakeholders to collaborate in real time and make informed decisions throughout the project lifecycle.

This digital twin enables more accurate project planning, cost estimation, and resource allocation. By visualizing and simulating different scenarios, BIM reduces the risk of errors, reworks, and material wastage, which contributes to overall project efficiency.

·         Increasing government mandates for BIM adoption:

Government mandates and regulations are also a crucial driver in the growth of the BIM market. Many governments around the world, particularly in developed regions like North America and Europe, have recognized the benefits of BIM for improving building standards and are mandating its use for public construction projects. Countries such as the United Kingdom, Singapore, and Australia have implemented mandatory BIM requirements for government-funded projects, and more nations are following suit as they seek to streamline public infrastructure spending and improve construction quality. In addition to these mandates, government incentives and funding for BIM adoption thereby bolstering the market demand.

·         The growing demand for sustainable building practices:

The rising emphasis on sustainable building practices is another key factor driving BIM adoption. With growing concerns over environmental impact, the construction industry is under pressure to reduce carbon emissions, improve resource efficiency, and ensure sustainable operations. BIM plays a vital role in promoting sustainable design and construction practices by enabling energy analysis, daylight modeling, and material tracking from the project's outset. By simulating a building's performance under different conditions, BIM allows architects and engineers to select materials and designs that enhance energy efficiency and minimize waste.

Furthermore, BIM facilitates lifecycle analysis, helping building owners and managers make informed decisions about maintenance, repairs, and renovations to extend the lifespan of buildings and reduce the need for new construction, thus supporting the market demand.

Building Information Modeling (BIM) Market Report Segmentation:

Breakup By Offering Type:

·         Software

·         Services

Software accounts for the majority of shares due to the high demand for advanced design, simulation, and modeling tools.

Breakup By Deployment Mode:

·         On-premises

·         Cloud-based

On-premises dominate as many firms prefer direct control over data security and system management.

Breakup By Application:

·         Preconstruction

·         Construction

·         Operations

Preconstruction holds the majority of shares, as BIM is essential for planning, cost estimation, and design collaboration in early project stages.

Breakup By End-Use Sector:

·         Commercial

·         Residential

·         Industrial

The commercial sector exhibits clear dominance driven by the extensive use of BIM in large-scale, complex projects like office buildings and retail spaces.

Breakup By End User:

·         Architects and Engineers

·         Contractors and Developers

·         Others

Architects and engineers represent the largest market share due to their primary role in designing and structuring building projects.

Breakup By Region:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         Latin America

North America holds the leading position, fueled by strong government mandates and advanced technology adoption in construction.

Top Building Information Modeling (BIM)Market Leaders:

The building information modeling (BIM) market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

·         ABB Ltd.

·         AECOM

·         Autodesk Inc.

·         Aveva Group Plc (Schneider Electric)

·         Beck Technology Ltd.

·         Bentley Systems Incorporated

·         Dassault Systèmes SE

·         Hexagon AB

·         Nemetschek SE

·         Trimble Inc.

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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