Building Information Modeling Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027

Published on : Mar-2020 | List of Tables : 88 | List of Figures : 106 | No. of Pages : 170 | Report Code : FACT4658MR |

 Building Information Modeling Market on Stellar Growth Trajectory, as Government Initiatives Ramp Up

Global building information modeling is set to exhibit a strong growth rate of 12% and poised to surpass US$ 11 Bn by 2027. Building information modeling is creating viable solutions for various stakeholders in the construction industry to cooperate efficiently and contribute to the overall completion of construction projects. Benefits such as a comprehensive approach to the overall project, combined with successful teamwork has led to soaring popularity of building information modeling technology over other traditional approaches such as AutoCAD, CATIA and 3D Max. Governments in many developed countries such as the United States, the United Kingdom, Finland, Denmark, Norway, Singapore and Australia, among others, are requiring the use of building information modeling systems in both public and private construction activities.

Building information modeling utilizes state-of-the-art technology by integrating 3D modeling with conventional computer-aided design (CAD). This includes the creation of a 3D modeling template for the architectural design of a building. This allows engineers and other construction professionals to make accurate measurements of a wide range of variables that increase the efficiency of the construction process. Building information modeling provides professionals with knowledge and tools to model, plan, create and operate buildings and infrastructure efficiently.

Enhanced data exchange and collaborations between various stakeholders, enhanced construction efficiency and mandatory government policies for the use of building information modeling in a number of developed countries has propelled the global building information modeling market.

Construction Projects in Emerging Nations to Facilitate Market Growth

The growing implementation of building information modeling in various verticals has led to many new product designs and computer models. Development in the commercial sector, such as retail and office buildings, is giving traction to the market. High use of electricity in commercial buildings and increased energy costs has driven the use of building information modeling in construction for efficient power and improved design of electrical systems to reduce costs, reduce wastage and improve overall retrofits.

The rapid increase in the number of construction projects, the global increase in building information modeling awareness and associated benefits, and the increasing demand for automated models in architecture, engineering and construction (ACE) industry have facilitated adaptation in the construction sector, particularly for commercial and infrastructure projects.

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North America to Witness Impressive Growth in the Building Information Modeling Market

Regionally, the global building information modeling market is spread across North America, Asia Pacific, the Middle East and Africa, Europe and Latin America. Of these, North America and Asia Pacific have depicted maximum growth in the market owing to the growing demand for building information modeling solutions. North America portrayed a leading presence in the market with a share of ~40% in 2018. Apart from the high demand for building information modeling solutions, numerous enterprises are adopting cloud based engineering software programs on a large-scale basis.

This in turn has increased the use of building information modeling software in the region, further cementing its position as a dominant regional sector throughout the forecast period. Moreover, the construction industry has been growing with leaps and bounds in North America which has fueled demand for building information modeling solutions, consequently making it a leading regional segment. Apart from North America and Asia Pacific, growth in the global building information modeling market in Europe has been substantial.

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A Highly Competitive Market with Developing Competitors Presenting New Features

The global building information modeling market is highly fragmented with few leading players of building information modeling providing specific application modules. Some of the key developments in the market are:

  • In October 2018, Kaldewei adopted the Building Information Modeling (BIM) to provide its private and industrial customers with digital models of its products.
  • In October 2018, Hexagon AB, a global leader in digital technologies, announced the acquisition of Bricsys, a fast-growing CAD (computer-aided design) software developer. The purchase is targeted at the provision of building technology solutions.

Building information modeling is a reliable vehicle for the submission and exchange of information during every construction project. Data is a key value for building information modeling, provided that the building information model is only as good as the reliability and accuracy of the information submitted to it.

Global Building Information Modeling Market – Scope of the Report

The following report provides forecast and analysis of the global building information modeling market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global building information modeling market along with several macro-economic indicators. This newly published and insightful report on the building information modeling market sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global building information modeling market.

The report also comprises the study of current issues with end users and opportunities for building information modeling market. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of building information modeling providers on parameters such as total revenue, product offerings, and key strategies. A list of key competitors operating in the global building information modeling market provided in the report adds to the credibility of this exhaustive research study.

Global Building Information Modeling Market: In-Depth Assessment on Key Segments

The global building information modeling market is segmented on the basis of type, application, end user, and region.

Type

Application

End User

Region

Software 

Building

AEC

North America 

Services

Oil & Gas

Contractors

Latin America

 

Civil Infrastructure

Facility Managers

Europe 

 

Industrial

 

APAC

 

 

 

MEA

Country-specific assessment on demand for information modeling market has been provided for each regional market, along with the market size valuation and forecast assessment, and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous building information modeling software experts. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have also been answered in the report.

The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global building information modeling market. Some of the major competitors operating in the global building information modeling market are Autodesk, Inc., Nemetschek Group, Bentley Systems, Trimble, Inc. and RIB Software SE.  

Global Building Information Modeling Market: Research Methodology

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the building information modeling market.

For ascertaining the market size on the basis of value, revenues generated by leading players, coupled with their product offering capacities are taken into consideration which is backed by a proven & tested research approach, the report offered necessary information on the building information modeling market. Qualitative aspects gained from industry experts and opinion leaders have also been adhered to by the analysts while developing this insightful report on the global building information modeling market. Secondary research is leveraged for ascertaining the overall size of the building information modeling market.

A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the building information modeling market, which includes global GDP growth rate, various allied industries growth rate, such as construction, transportation and facility management. This report serves as an authentic resource of intelligence on the global building information modeling market, enabling the readers to take fact-based decisions on the future direction of their businesses.

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Building Information Modeling Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027