Building Information Modeling (BIM) Market Size worth USD 8.9 billion by 2024 | CAGR: 12.7%
Published | 11 October 2019
According to BlueWeave
Consulting, the Global Building Information Modeling (BIM) Market is expected
to grow at a significant rate during the forecast period. The Global Building
Information Modeling (BIM) Market is anticipated to grow from USD 4.9 billion
in the year 2019 to USD 8.9 billion by the end of the year 2024; it is also
expected to record a steady compound annual growth rate (CAGR) of 12.7% during
the forecast period.
The Global Building
Information Modeling (BIM) Market is growing owing to various factors. High
power utilization in business structures and the ascent in energy expenses have
been driving the use of structures data displaying in development for effective
power and improved electrical framework plan for lessening costs, diminishing
wastage, and in the general retrofit enhancements.
The worldwide BIM market is
required to increment because of rising consumption and interest in the
development business both private and non-private, expanding digitization in
the development division, developing IT interest in the development and
expanding administrative appropriation of BIM by a few countries. However the
market faces a few difficulties, for example, absence of positive regulation,
absence of skill in BIM and significant expenses, protection from the change on
part of development directors/temporary workers, social hindrances and issues
of interoperability. Joining of BIM with the Internet of Things (IoT)
technology, the extent of Augmented and Virtual reality in the BIM market, the
advancement of 5D BIM and spike in mergers and acquisitions (M&A) action
are probably the most recent patterns existing in the market.
The
software segment from the type section holds a major share in the Global
Building Information Modeling (BIM) Market growth during the forecast period
Software is relied upon to
lead the building information modeling market, by type. The product is divided
further into engineering plan, maintainability, structure, MEP, development,
and facility management. Engineering is relied upon to overwhelm the BIM
programming market. The utilization of BIM for engineering structures helps in
incorporating plans and propelled perceptions. It likewise improves plans
according to the necessities. The construction software is required to hold a
noteworthy portion of the product type. To build efficiency, a perplexing
development procedure must be trailed by exacting procedures and tight
timetables. BIM in the development procedure is for the most part utilized for
reenactment, assessing, and development investigation.
The
AEC segment holds a lion’s share in the Global Building Information Modeling
(BIM) Market growth during the forecast period
The joint effort of
architecture, engineering, and construction (AEC) processes bring about
finishing a task. BIM is among the most encouraging improvements in the AEC
section, and it embraces different advanced innovations that would help change
the AEC fragment. Right now, BIM is combined with incredible structure and
recreation devices that support more prominent joint effort between undertaking
groups. BIM permits AEC end-clients to team up with the general development
work directly from the preconstruction to the tasks stage.
The
North American region holds a significant share in the Global Building
Information Modeling (BIM) Market growth during the forecast period
Main factors that are
driving the building information modeling market in North America incorporate
the desire for selection of BIM commands in the region, noteworthy interests in
foundation ventures from government and private players, and activities taken
by different associations in these districts for the reception of BIM in
particular nations.
Global
Building Information Modeling (BIM) Market: Major Players
RIB Software SE (RIB,
Germany), Asite (Asite, UK), AVEVA Group plc (AVEVA, UK), Hexagon AB (Hexagon,
Sweden), Autodesk, Inc (Autodesk, US), Nemetschek Group (Nemetschek, Germany),
Bentley Systems, Incorporated (Bentley Systems, US), Trimble Inc. (Trimble,
US), Dassault Systèmes SE (Dassault Systèmes, France), Archidata Inc.
(Archidata, Canada), Pöyry Oyj (Pöyry, Finland), Computers and Structures, Inc.
(Computers and Structures, US), and 4M Company (4M Company, US), Beck
Technology (Beck Technology, US), among others are some of the major players in
the Global Global Building Information Modeling (BIM) Market.
Browse Detailed TOC, “Building Information Modeling (BIM) Market,
by Type (Services and Software), by Verticals (Entertainment, Commercial,
Industrial, Sports), by End-User (Architect, Construction Manager/General
Contractor, Engineer, and Owner), by Regional Outlook (U.S., Rest of North
America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan,
India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa,
Rest of MEA, Brazil, Rest of Latin America) – Global Market Insights, Growth,
Size, Comparative Analysis, Trends and Forecast, 2015-2024”
AT
The in-depth analysis of the
report provides the growth potential, upcoming trends and statistics of global
Building Information Modeling (BIM) market size & forecast. The report
promises to provide state-of-the-art of Building Information Modeling (BIM)
production and industry insights which help decision makers to take sound
strategic decisions. Furthermore, the report also analyzes the market drivers
and challenges and competitive analysis of the market.
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