Building Information Modelling (BIM) Market to grow from a market value of USD 5.265 billion in 2017 to USD 14.033 billion by 2023| Dominant Players - BENTLEY SYSTEMS INC., DASSAULT SYSTEMS SA, NEMETSCHEK SE, TRIMBLE INC., AVEVA GROUP PLC, BIMEYE INC., RI

Market Analysis:

Asia Pacific to Witness the Highest Growth Rate
In the Asia-Pacific region, the growth in the market is augmented by the growth of the construction industry in countries, such as China and India. Government-aided schemes such as Smart Cities in India, which plan to develop 100 cities with revamped infrastructure in the country, is further expected to drive the demand for BIM solutions.

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In the recent years, owing to its benefits over the existing solutions, such as paper-based design and modeling, and CAD systems, BIM has recorded an increasing adoption. The emergence of BIM has created a paradigm shift within the architecture, engineering, construction, and operations (AECO) industry, by changing the way construction activities are planned, designed, built, and managed. These tools facilitate money saving, time saving, and simplifying the construction processes, thereby driving the building information modelling software. The introduction of governmental regulations in major markets, such as the United Kingdom, the United States, and Singapore, has considerably aided the adoption rate of BIM software. Commercial applications to account for highest market share.

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Market Segments:
Building Information Modelling (BIM) Market is segmented by:
1. Solution Type: Software, Service
2. Application: Commercial, Residential, Industrial, Other Applications
3. End User: Contractors, Architects, Facilities Managers, Other End Users
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• Oct 2017: AutoDesk invested in Project Frog, a component building company, to create a cloud-based data platform that connects the manufacturing and project delivery with the architectural design process.
• Oct 2017: Nemetschek acquired RISA, a US-based software provider, to enhance its structural analysis portfolio and expand its solution portfolio in the AEC market.
• Jul 2017: ClearEdge3D acquired Pericept, a construction verification software firm.

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