Building Information Modeling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030

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Building Information Modeling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030

Status : June, 2022 | Semiconductor & Electronics

Report Digest


Global Building Information Modeling Market: Snapshot

The latest corporate intelligence report indicates that the global building information modelling market will record a brilliant growth rate of 12.5 % over the forecast years i.e. 2021 to 2026. The research report places the initial evaluation of the global building information modelling market at US$ 5.4 billion at the base year of 2020.

It also elaborates that the global building information modelling market is anticipated to cross the industry evaluation of US$ 10.7 billion by the end of the forecast period i.e. 2021 to 2026.

The increasing adoption of remote working business models owing to the COVID-19 pandemic is one of the stark and most influential drivers for the growth and development within the global building information modelling market.

Some other significant drivers motivating substantial growth in the global building information modelling market include the rising number of initiatives by governments across the world for seamless adoption of building information modelling systems as well as the increasing usage of emerging internet of things or IoT in construction sector.

Some other drivers and factors that majorly influence the development of the global building information modelling market include the fast paced increase in the trend of globalization as well as urbanization, rising focus of the enterprises and corporate entities of introduction of new standards, for example, ISO 19650 in global building information modelling market.

The developers and players in the global building information modelling market offer various types of unique software tools and modalities that attract the most demand within the industry.

Furthermore, the global growth within the worldwide construction and infrastructure sectors is also motivating the rapid adoption of novel solutions within the global building information modelling market.

Manufacturers and players in the global building information modelling market are focusing on new product launches as well as strategic partnerships and collaborations in order to attract a larger customer base. 

Global Building Information Modeling Market: Overview

Building information modeling (BIM) technology is being increasingly adopted by major companies from the AEC industry owing to increased awareness about the benefits of this technology. This factor is expected to fuel the expansion opportunities in the global building information modeling market during the forecast period of 2020 to 2030.

An upcoming report by TMRR provides comprehensive assessment of major factors driving or restraining the growth of the global building information modeling market. Moreover, the study gives in-depth insights on present and historical trends, growth opportunities, and challenges in the market. Therefore, the assessment document works as a trustworthy guide to gain exhaustive insights on the building information modeling market for the forecast period of 2020 to 2030.

The assessment on the global building information modeling market is presented in the form of different segments, which are decided based on many parameters such as offering type, deployment type, application, end user, project lifecycle, and region. Based on offering type, the market is bifurcated into software and services.

Global Building Information Modeling Market: Growth Dynamics

BIM refers to a procedure that produces a 3D model of infrastructures, buildings, and others for AEC experts in order to design, plan, manage, and construct their projects efficiently. The BIM technology is gaining traction as it helps in generation as well as management of digital representations of functional and physical characteristics of places. Moreover, the technology is useful in performing the representation of data using objects in designs form.

The global building information modeling market is expected to expand on the back of many factors such as surge in global urbanization, increased awareness across AEC industry about advantages of BIM. Moving forward, a surge in various government initiatives for acceptance of BIM is projected to help in the expansion of the building information modeling market.

Surge in the trend of BIM and IoT in construction sector and rise in concentration of companies toward the launch of latest standards such as ISO 19650 are some of the factors fueling the growth avenues in the building information modeling market.

Due to onset of the COVID-19 pandemic, there is surge in the adoption of remote work culture by major enterprises from varied industrial verticals. This factor is expected to result into growth of the building information modeling market in the years to come.

Global Building Information Modeling Market: Competition Analysis

The nature of building information modeling market seems to be fragmented. Presence of many active players makes the competitive landscape of the market building information modeling highly intense. To sustain in this competition, players are executing various strategies such as mergers, acquisitions, joint ventures, and new product launches.

Several companies operating in the global building information modeling market are investing in R&D activities. The prime motive of this strategy is to advance the quality of products they provide. Moreover, numerous players are concentrated on expansion of their businesses in new regions.

The list of important players in the global building information modeling market includes:

  • Nemetschek
  • Autodesk
  • Trimble
  • Bentley Systems
  • RIB Software
  • Dassault Systèmes
  • AVEVA
  • Hexagon
  • ASITE

Global Building Information Modeling Market: Regional Assessment

The global building information modeling market is divided into many geographical regions such as Europe, North America, APAC, and rest of the world. Among all key regions, North America seems to be one of the dominant regions for companies operating in the market for building information modeling.

One of the key factors boosting growth of the North America building information modeling market includes early adoption of advanced BIM technology by engineers, architects, and contractors in the region.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?