Building Information Modelling Market is projected to reach USD 22.7 billion by 2032.,Size, Development Data, Growth Analysis & Forecast 2022 to 2028 -Autodesk, Nemetschek, Bentley, Trimble, Dassault Systemes, RIB Software, Mcneel, Cadsoft, Siemens, AVEVA

The building information modeling market was valued at USD 5.1 billion in 2021 and is projected to reach USD 22.7 billion by 2032. It is expected to grow at a CAGR of 15.5% during the forecast period. Rising adoption of remote working due to COVID-19, rapid rise in urbanization globally, wide-ranging benefits of BIM realized by AEC industry, and growing government initiatives for adoption of BIM are contributing to the growth of the building information modeling market. Rising trend of IoT in construction sector, increasing trend of BIM, and growing focus of organizations on introducing new standards in BIM market act as a growth opportunity for the market players.

Leading players of Building Information Modelling including:

Autodesk, Nemetschek, Bentley, Trimble, Dassault Systemes, RIB Software, Mcneel, Cadsoft, Siemens, AVEVA, Aconex, Beck Technology, Inovaya, Synchro, IES, Hongye Technology, Beijing Explorer Software, Glodon, PKPM

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As a result of these issues, the Building Information Modelling industry has been hampered. Because of the industry's small number of important enterprises, the Building Information Modelling area is heavily targeted. Customers would benefit from this research since they would be informed about the current Building Information Modelling scenario. The most recent innovations, product news, product variants, and in-depth updates from industry specialists who have effectively leveraged Building Information Modelling position are all included in this research study. Many firms would benefit from Building Information Modelling research study in identifying and expanding their global demand. Micro and macro trends, important developments, and their usage and penetration across a wide variety of end-users are also included in the Building Information Modelling segment.

The market analysis done with statistical tools also helps to analyze many aspects that include the demand, supply, storage costs, maintenance, profit, sales, and production details of the market. Furthermore, the global Building Information Modelling research report provides the details about the Building Information Modelling share, import volume, export volume, and the gross margin of the companies.

Building Information Modelling Segmentation by Type:

3D BIM- Design Model, 4D BIM- Construction Dynamics, 5D BIM- Cost, 6D BIM- Built Facilities, 7D BIM- Environmental Protection.

Building Information Modelling Segmentation by Application:

Architect, AEC Engineering Office, Contractor, Owner

lobally, government across regions have been formulating policies driving phase transition to digitalization when it comes to building designs. Market for BIM software and services is forecast to see consistent growth trend as many countries are across different stages of rolling out favorable policies, subsequently boosting the demand. While countries such as Germany, Japan, Canada, China, Netherlands, Spain, and Portugal have BIM plans for rolling our BIM programs, the other regional countries such as Belgium, Switzerland, Italy, Brazil, Czech Republic, and New Zealand are in recording rise in adoption. Markets of UK, The U.S., Korea, Hong Kong, Singapore, Russia, and Finland among few others have already had BIM policies in place. Major South American countries such as Peru, Mexico, and Chile too have expressed willingness to implement similar mandates in the future.

Building information modeling (BIM) is a 3D visualization of building design which includes plan, elevation, and section of building. BIM is a prominent designing tool in the AEC industry, aiding in the analysis of the quantitative and qualitative aspects of the construction, such as cost estimation, time requirement, and component procurement. Furthermore, BIM also helps undertake operations related to the project post completion, which include maintenance issues and project lifecycle management.

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Highlights of the Report:

The report provides Building Information Modelling industry demand trends in Q1 and Q2 2021.
• Individual circumstances of the Building Information Modelling segments are discussed in the report.
• The report contains forward-looking information on risks and uncertainties.
• The report studies the consumer-focused sectors of the Building Information Modelling.
• The trade scenarios of the products and services in particular segments are detailed in the report along with regulation, taxes, and tariffs.
• The trends that are impacting the Building Information Modelling for past few years are discussed in the report.
• The report studies the potential impact of the Covid-19 pandemic on the Building Information Modelling industry economy and performance of the market players in the same context.

Driver: Wide ranging benefits of BIM realized by AEC industry
The architecture, engineering, and construction (AEC) industry consists of architects, engineers, and contractors who work together to make a project successful. Rising trends in advanced technologies have led to the adoption of innovative approaches in the working standards within the construction industry. BIM is one such approach that provides benefits such as visualization and collaboration, the synchronization of design and construction planning, conflict detection, and cost reduction. The benefits provided by BIM have led to the transition toward new approaches. Therefore, the growing need for integrated processes for designing, collaboration, and coordination in the AEC industry is driving the growth of the building information modeling market.

Restraint: High initial cost of BIM
Although there are huge benefits and cost savings associated with BIM, the initial cost observed is high. For instance, the cost of Autodesk's Revit software is ~USD 3,500-4,500. Apart from the software cost, the cost of training and services is also high. Thus, the high initial cost associated with BIM would restrain the building information modeling market growth.
Also, BIM software is promoted by various vendors by offering it for free or at a low price to students for learning purposes. Apart from cost, BIM software programs require a long duration of training. Despite these restraints, BIM software exhibits remarkable productivity, which, in turn, helps a firm increase its efficiency rate by up to 25-30%. BIM also helps mitigate design failures during construction, thereby saving time and resources.

Opportunity: Rising trend of IoT in construction
With the use of IoT in construction, modeling and ordering processes can become simpler, and the required material can be sent directly to the construction site, thus reducing the time required for ordering. IoT solutions can be used in prefabrication. Using prefabricated building components can lead to faster and more cost-effective solutions than traditional building methods, and it can be an added benefit for creating less construction waste. However, using prefab for large commercial buildings projects can be complex to coordinate along with the complete construction lifecycle. Thus, IoT can help solve this problem. During the construction of the Leadenhall Building, London, which had to be constructed in a small footprint but required large prefab components, RFID sensors were used to track individual prefab components, and it was possible to construct the complex building on time with perfection. Hence, the integration of BIM with IoT technology provides a comprehensive view of the status of the buildings.

Challenge: Low level of digitization in construction industry
There is a lower level of digitization in the construction industry than in other industries. By streamlining processes, the efficiency of up to 20% can be achieved through shorter construction times, higher quality, and lower costs with the help of BIM. Often, it is observed that large-scale construction projects take a longer time to finish and go beyond the budget; this results in lower financial returns for contractors. Furthermore, lower digitization hampers productivity as the construction industry has been slow in adopting process and technology innovations. For instance, project planning remains uncoordinated between offices and fields and is often done on paper, performance management is inadequate, and supply-chain practices are still unsophisticated. The industry has not yet embraced new digital technologies that need up-front investments, even if the long-term benefits are significant. R&D spending in the construction industry runs way behind that of other industries. The construction industry is lagging by almost 15-20 years from other industries such as automotive and ICT.

Services segment is expected to grow with highest CAGR during forecast period
The services segment is expected to witness a faster rate as BIM services are adopted at a higher rate by building owners, design teams, contractors, and facility managers to achieve the detailed engineering of a project, which helps in improving the quality of buildings and reducing designing and maintaining costs. The software segment holds a larger share of the BIM market and is mainly dominated by architectural and structural software.

BIM market for On-premises deployment type is expected to hold largest market share during forecast period
Depending on deployment type, the building information modeling market for the on-premises deployment type held a larger size in 2020 and is expected to continue this trend during the forecast period. The larger share is attributed to the rise in concerns about the security of data associated with construction projects, which is highly valuable. Larger firms in the AEC industry such as Autodesk. and Nemetschek provide on-premises software for their customers in industrial, healthcare, and residential sectors.

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This research report categorizes the building information modeling market, deployment type, offering type, project lifecycle, application, end user, and region

Based on Deployment Type:
On Premises Deployment
Cloud Deployment
By Offering Type:
Software
Architectural Design
Sustainability
Structures
MEP
Construction
Facility Management
Services
Software Support and Maintenance
Project Management and Support
By Project Lifecycle:
Preconstruction
Construction
Operation
By Application:
Buildings
Industrial
Civil Infrastructure
Oil & Gas
Utilities
Others
By End User:
AEC Professionals
Consultants & Facility Managers
Others
Based on the Region:
North America
Europe
APAC
RoW (South America, Middle East & Africa)
Recent Developments
In July2021, Graphisoft, the leading BIM software solution developer for architecture, announced significant enhancements to BIMx and BIMcloud to boost security, storage space, and visualization and collaboration capabilities. In addition, the new 3D BIMx engine is available for Android users as well.
In June 2021, The Nemetschek Group announced that its brands Allplan and SDS2 will join forces to create a strong and customer-focused product portfolio of BIM solutions for the entire structural workflow. With the merger, Allplan-a global provider of BIM design software solutions headquartered in Germany-is completing its offering with engineering detailing software for steel.
In May 2021, ALLPLAN, a global provider of BIM solutions for the AEC industry, presented an update of its cloud-based data management and collaboration platform, Bimplus. The latest release offers a wide range of new and improved functions for handling BIM models, clear document management, and the integration of guest viewers, which provides a truly digital environment for model collaboration.

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