Building Information Modelling Market Analysis forecast to 2029 Focusing on Top Key Players – Autodesk(the U.S.), Nemetschek (Germany), Bentley Systems(the U.S.)

Building Information Modelling Market

The global Building Information Modelling is expected to grow from USD 3.8 Billion in the year 2019 to USD 9.8 Billion in the year 2027 Billion at a compound annual growth rate (CAGR) of 11% in the forecast period.

The global Building Information Modelling (BIM) is used in the construction sector to generate the 3D structures and manage data throughout the lifecycle. The software aids the Architecture, Engineering, and Construction (AEC) professionals to use technologically advanced ways for their projects. Further certain benefits of the software such as better collaboration, and communication, model-based cost estimation, increased productivity and prefabrication, preconstruction project visualization, and safer construction sites among others have propelled the market. Also, its complete project management and effective communication with all the people involved in the project from stakeholders to architects to construction managers and others have eased the operations and improved the transparency.

Growing migration into urban areas and growing Foreign Direct Investment (FDI) in the engineering and construction sectors of emerging economies, such as India and Brazil, are pushing the demand to cater to the increasing amount of population. The world's population will grow to 8.1 billion by 2025 and cross ~10 billion by 2050 according to the UN. Further, the graph below shows FDI by area. The emerging economies have seen a 6% rise in the FDI, while developed nations have seen a significant decline. The top 100 multinational enterprises account for one-third of the R&D worldwide, thereby being a significant part of the investment in developing countries. Furthermore, building information modelling is gaining popularity among the projects across the globe mainly due to the 3D model-based framework thus a surge in the building information modelling market growth is anticipated shortly.

Further in Singapore, the Building and Construction Authority (BCA) has made mandatory for using BIM during the construction by making the practitioners submit architectural or engineering plans in the BIM format for regulatory approval. Further certain countries such as United States, Brazil, Chile, Denmark, Norway, Finland, Kazakhstan, Vietnam, Japan, South Korea, and Australia among others have existing BIM mandates Besides, countries such as Mexico, Peru, Colombia, Argentina, Italy, France, Spain, Latvia, China, Indonesia, and others have planned to use BIM software recently.

The Building Modelling Software uses advanced technologies such as 3D modelling cloud services, integrated project delivery (IPD), and others that require a high initial cost of deployment. The transition from 2D CAD to 3D will need a skilled workforce along with differential supporting hardware and software thereby increasing the cost. For instance, the Revit software is valued at approximately USD 1500 for a year, Civil 3D software is valued approximately at USD 1400 and the Alias software is valued approximately at USD 5000. Further, the additional cost of training and the services also add up to the initial cost making it difficult to adopt and thereby hampering the growth of the market

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The Major Prominent Players Covered in this Report:
Autodesk(the U.S.), Nemetschek (Germany), Bentley Systems(the U.S.), Trimble(the U.S.), DassaultSystèmes (France), Rib Software (Germany), Asite (the U.K.), Aveva (the U.K.), Hexagon (Sweden), Archidata (Canada), Acca Software (Italy), Arcadiasoft(the U.S.), Procore Technologies(the U.S.), Concora(the U.S.), Pöyry (Finland), Beck Technology(the U.S.), Computers and Structures(the U.S.), Robert McNeel& Associates(the U.S.), 4M Company (the U.S.), and CCT International (Canada) among others

By Offering
Software
Services

By Type
Plug-In
Standalone

By Application
Architectural and Product Visualization
High-End Video Games
Marketing and Advertisement
Training Simulation

By Deployment Type
On-Premises
Cloud-Based

By End-User
Architecture, Building, and Construction
Media and Entertainment
Design and Engineering
Healthcare and Life Sciences
Academia & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Impact of COVID-19 -
The pandemic had caused a lockdown and the temporary shutdown of almost all of the construction sites across the globe thus negatively impacting the construction sector and the global building information modelling market. The delays in the supply chain have resulted in shortages of material, parts, equipment, and others. Besides the Associated General Contractors of America (AGC) estimates that the epidemic triggers shortages or losses to at least 45% of contractors. Further, the restraint in the economic sector has disrupted the industry due to the lack of funds, and the unavailability of the workers. However, the uplifting of the lockdown has resumed the most of the construction projects across the globe there predicting the BIM market to gain traction shortly.

Key Building Information Modelling Market Trends:
- The report identifies, determines, and forecasts the Global Building Information Modelling Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Building Information Modelling Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Building Information Modelling Market.

Key Questions Answered in The Report:
What will the Building Information Modelling market growth rate?
What are the key factors driving the global Building Information Modelling market?
Who are the key manufacturers in the Building Information Modelling market space?
What are the market opportunities, market risk, and market overview of the Building Information Modelling market?
What are sales, revenue, and price analysis of top manufacturers of the Building Information Modelling market?
Who are the distributors, traders, and dealers of the Building Information Modelling market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Building Information Modelling Industry?
What are sales, revenue, and price analysis by regions of Building Information Modelling industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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