Building Information Modeling Solutions Market (By Component: Software/Platform and Services; By Deployment: Cloud and On-premise; By Application: Water & Wastewater, Rail Transit & Aviation, Energy Generation Facilities, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The global building information modeling solutions market size is expected to reach around US$ 42.5 billion by 2030 and is anticipated to grow at a CAGR of 15.1% during the forecast period 2021 to 2030.

Building information modeling (BIM) is a 3D visual presentation of a technical drawing, which includes plan, elevation, and section of a building. It is a kind of digital fabrication system in which the actual model of the building with accurate value is digitally constructed. Apart from 3D visualization, BIM also covers 4D and 5D, which comprise time and cost plans, respectively.

Besides, building information modeling (BIM) is being widely adopted across the world due to technical advancements in the field of architecture, engineering, and construction (AEC), and the demand for dedicated designing software has increased greatly. As a result, the market is anticipated to witness healthy growth rate during the forecast period.

Need of constructing various structures is on the rise due to rapid urbanization and industrialization, consequently driving the global building information modeling (BIM) solutions market. Companies are rapidly developing user-friendly solutions, which are anticipated to considerably increase demand for building information modeling (BIM) solutions in the near future.  The significant trend of making large commercial buildings is expected to trigger the growth of the building information modeling (BIM) solutions market.

Key Driver

• Rising awareness of BIM & related benefits across the globe, increasing number of construction projects, and growing demand for automated models in the AEC (architecture, engineering, and construction) sector have been supporting BIM in the construction industry, specifically for infrastructure and commercial projects. This, in turn, is expected to boost the growth of the building information modeling (BIM) solutions market.
• Development of infrastructure to support the rising road and railways network due to the increasing population is anticipated to drive the building information modeling (BIM) solutions market in the upcoming years. For instance, according to the India Brand Equity Foundation (IBEF) 2018, the Hyderabad Metro Rail Project is the largest PPP (Public Private Partnership Project) in the metro division. The PPP network is expected to cover a total distance of about 72 Km, and projected to carry around 2.2 million passengers per day by the year 2024. The cost of this project is stated to be US$ 2.01 Bn.
• Consumers of BIM, such as architects, designers, sub-contractors, and contractors across the globe suggest that the return on investment (ROI) in BIM is greater than with conventional construction management. This, in turn, is expected to drive the growth of the building information modeling (BIM) solutions market.

Emergence of Virtual Reality (VR), Augmented Reality (AR) Technologies Transforming BIM Solutions Market

• Equipment operator training and safety training are two areas where virtual reality (VR) could have a significant impact on the AEC industry. With VR, laborers could get more exposure to environments such as working at a height or a confined space controlled environment. Augmented reality (AR) supports the construction industry to achieve a detailed observation into each phase of the project lifecycle. Reality modeling and 3D allows project designers and architects to move various elements around and detect any potential issue in the design prior to a problem arising.
• With AR, clients can go through the building before it is constructed or built. This may help clients to obtain a better picture of the end result, allowing the designs to get earlier approval. Combining AR with BIM helps users to view 3D models from BIM in the real world. Moreover, electrical and plumbing systems can be placed more precisely to reduce installation errors.
• Inspectors, architects, and contractors can position pins using AR to the designated areas with issues. Moreover, comments can be placed, along with pins that helps to provide more details.
• Maintenance is made simpler by the use of AR. AR users can view work history, information on schematics, and work directions for specific building models.
• This is expected to create opportunities for the building information modeling (BIM) solutions market

Regional Scope

North America is projected to hold a strong position in the global building information modeling (BIM) solutions market during the forecast period, due to technological advancements and significant adoption of the BIM technology with the latest trends in technology in the architecture, engineering and construction (AEC) industry in the region. The adoption of BIM solutions have increased considerably in the past few years. Furthermore, growth of the construction industry and increase in awareness about the benefits of BIM tools with its launch in early 2000 are expected to support the market growth in the region. The U.S construction industry has standardized construction standards by using building information modeling (BIM) in order to improve return on investment (ROI) both for contractors and engineers. Additionally, the U.S. Government has mandated the use of the BIM technology for government construction projects in the country.

However, the building information modeling (BIM) solutions market in Asia Pacific is estimated to expand at a robust pace during the forecast period. The market in Asia Pacific is predominantly driven by extensive government policies and investment in smart cities projects. The building information modeling solutions market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to growing architecture, engineering, and construction industry in China, Japan, India, Australia, and ASEAN.

Additionally, the adoption level of BIM for large construction projects in China is extremely high. Initiatives have been taken by the government to enhance the implementation of BIM for small and medium construction organizations. This, in turn, is likely to trigger the growth of the building information modeling solutions market. Furthermore, initiatives are being taken to boost BIM deployment in member countries of the Association of Southeast Asian Nations (ASEAN) (Cambodia, Malaysia, Laos, Philippines, Singapore, Thailand, Vietnam, Myanmar, and Brunei Darussalam). For instance, Singapore’s Building Construction Authority (BCA) made it mandatory for all new construction to include BIM technologies. This, in turn, is likely to offer significant opportunities to the building information modeling (BIM) solutions market.

Key Players

Key players operating in the global building information modeling (BIM) solutions market are Dassault Systèmes SA, Autodeck Inc, Bentley Systems Inc., Trimble, Inc., Microsoft Corporation, Nemetschek Group, AVEVA Group plc, FARO Technologies, Inc., Tekla Corporation, ClearEdge3D, Inc., DC Engineering, Geo-Plus, Innovaya, RIB Software SE, Safe Software, Inc., SierraSoft, and Vectorworks, Inc.

Market Segmentation

Market By Component

• Software/Platform
• Services
  • Consultation & Integration
  • Support & Maintenance

Market By Deployment

• Cloud
• On-premise

Market By Application

• Water & Wastewater
• Rail Transit & Aviation
• Energy Generation Facilities
• Roads, Bridges, and Highways
• Houses & Apartments
• Factories & Warehouses
• Educational Institutes & Commercial Spaces
• Government Buildings
• Dams & Others

Market By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • United Arab Emirates
  • South Africa
  • Rest of Middle East & Africa (MEA)
• South America
  • Brazil
  • Argentina
  • Rest of South America

Overview

A latest study analyzes the historical and present-day scenario of the global building information modeling (BIM) solutions market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the building information modeling (BIM) solutions market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the building information modeling (BIM) solutions market will progress during the forecast period of 2021 - 2030.

The report offers intricate dynamics about the different aspects of the building information modeling (BIM) solutions market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the building information modeling (BIM) solutions market during the forecast period. It also includes impact analysis of COVID-19 on the building information modeling (BIM) solutions market. The global building information modeling (BIM) solutions market report helps to estimate statistics related to the market progress in terms of value (US$ Mn).

The study covers a detailed segmentation of the building information modeling (BIM) solutions market, along with key information and a competitive outlook. The report mentions the company profiles of key players currently dominating the building information modeling (BIM) solutions market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.

Key Questions

• How are key market players successfully earning revenue out of building information modeling (BIM) solutions?
• What will be the Y-o-Y growth of the building information modeling (BIM) solutions market between 2021 and 2031?
• What are the winning imperatives of market frontrunners in the building information modeling (BIM) solutions market?
• What are the major drivers and restraints of the market?
• What will be the size of the building information modeling (BIM) solutions market from 2021 to 2030?
• Which will be the fastest growing segment in the building information modeling (BIM) solutions market?
• Which are the leading companies in the building information modeling (BIM) solutions market?
• What are the strategies of companies operating in the market?

Research Methodology

The research methodology adopted by analysts to compile the building information modeling (BIM) solutions market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts of the building information modeling (BIM) solutions market. During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine sources, analysts have emphasized the changing scenario of the building information modeling (BIM) solutions market. For secondary research, analysts scrutinized numerous annual report publications, white papers, and data of major countries of the world, industry association publications, and company websites to obtain the necessary understanding of the building information modeling (BIM) solutions market.