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Building Information Modeling Market

Building Information Modeling Market

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

Building Information Modeling Market
FACT4658MR
  • Mar-2020
  • List of Tables : 88
  • List of Figures : 106
  • 170 Pages
  • Technology

Introduction

According to the latest analysis by Fact.MR, the building information modeling market is set to grow at a steady pace.

The contraction induced due to COVID-19 is likely to recover during 2021-2031.

Sensing the opportunities, key players are relying on innovations, mergers and acquisitions, and product development to gain a major market share.

For instance, in June 2021, Bentley Systems announced the completion of its acquisition of Seequent Holdings Limited. 

In addition to this, Bentley Systems and Carahsoft Technology Corp. announced a strategic partnership. 

Under the agreement, Carahsoft will serve as the primary government distribution contract aggregator for Bentley Systems. 

This extends the company’s commitment to U.S. federal, state, and local government agencies.  

Aecom, Asite Solutions Limited,  Beck Technology Ltd, Nemetschek AG, Synchro Software Ltd, Pentagon Solutions Ltd, Bentley Systems Inc, and Dassault Systemes Sa, Trimble Navigation Ltd. are some of the key players in the building information modeling market. 

Government Initiatives to Propel Growth

Global building information modeling is set to exhibit a strong growth rate during the forecast period 2021-2031.

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 have led to the soaring popularity of building information modeling technology.

The building information modeling technology is now being preferred 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, and 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 are leading to enhanced construction efficiency and mandatory government policies. 

This is mainly for the use of building information modeling in a number of developed countries that have propelled the global building information modeling market.

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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 have driven the use of building information modeling. 

In the construction industry, building information modeling system helps in efficiently managing power and improving the design of electrical systems to reduce costs, 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 are facilitating the market growth.

Moreover, the increasing demand for automated models in the architecture, engineering, and construction (ACE) industry has facilitated adaptation in the construction sector, particularly for commercial and infrastructure projects.

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 have driven the use of building information modeling. 

In the construction industry, building information modeling system helps in efficiently managing power and improving the design of electrical systems to reduce costs, 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 are facilitating the market growth.

Moreover, the increasing demand for automated models in the architecture, engineering, and construction (ACE) industry has facilitated adaptation in the construction sector, particularly for commercial and infrastructure projects.

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Developing Competitors to Use Innovation To Gain Traction

The overall 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 November 2020, Autodesk announced the launch of a new cloud-based AEC which has the ability to connect the Autodesk Construction Cloud with BIM 360.
  • 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.

Key Questions Answered in Fact.MR’s business information modeling market Report

  • What is the building information modeling market size?
  • How have business information modeling sales grown over the years?
  • Which are the leading countries using the BIM?
  • What is the market share of top BIM players?
  • What are the key trends impacting building information modeling market growth?
  • What is the North America building information modeling market Outlook?
  • How will sales of business information modeling grow in Europe?
  • How will demand for business information modeling grow in Japan and South Korea?

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In-Depth Assessment on Key Segments

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

Type
  • Software
  • Services
Application
  • Building
  • Oil & Gas
  • Civil Infrastructure
  • Industrial
End User
  • AEC
  • Contractors
  • Facility Managers
Region
  • North America
  • Latin America
  • Europe
  • 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 market are Autodesk, Inc., Nemetschek Group, Bentley Systems, Trimble, Inc. and RIB Software SE.

Scope of the Report

The following report provides forecast and analysis of the global 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 along with several macroeconomic indicators.

This newly published and insightful report 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 market.

The report also comprises the study of current issues with end users and opportunities for building an 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 of 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 market provided in the report adds to the credibility of this exhaustive research study.

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. 

This includes global GDP growth rate, various allied industries growth rates, 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 make fact-based decisions on the future direction of their businesses.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.