BIM Extraction Software Is Likely To Be Valued At US$ 384.3 Million By 2031

According to Fact.MR- a market research and competitive intelligence provider- The U.S will remain the most opportunistic market, generating a US$ 35.3 Million $ opportunity through 2032.
The building information modeling (BIM) extraction software industry reached US$ 140.9 Million in FY2021, and is likely to register a Y-o-Y increase of over 10% in 2022, expected to be valued at US$ 155.1 Million. During the 2022-2032 period of assessment, the market is forecast to grow at a 9.5% value CAGR, reaching US$ 384.3 Million.

Demand Analysis of BIM Extraction Software Industry

Building information modelling extraction software provides improved customer/client relationships, reduced costs, improved profitability, and better time management. For instance, for evaluation of costs, architects can use tools such as BIM 360 documents related to material shipping, materials, and labor, including payroll-based construction timelines. Thus, building information modeling solutions have a high impact on the AEC industry.

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By deploying BIM extraction software, engineers and architects are able to implement a robust project lifecycle management model. This renders the construction not only safe, but also proves to be highly inexpensive. Like any other industry, the construction sector too is experiencing increased adoption of major technological advancements- from 3D printing to cloud based software deployment.

On-Premise BIM Extraction Software to Experience Maximum Deployment

By software type, Fact.MR, expects on-premise BIM extraction software to experience a CAGR of 8% from 2022 to 2032. Given the fact that the global construction industry is heavily regulated, major companies are restricting data access for their employees within the corporation premises. This is done to ensure data security and avoid possible breaches.
BIM Extraction Software for Houses & Apartments to be Key Revenue Stimulator

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According to Fact.MR's analysis, the houses & apartments segment is poised to experience maximum BIM extraction software uptake. A CAGR worth 8.8% has been projected throughout the 2022-2032 period of assessment. Growing urbanization across key countries is primarily driving market growth.

Impact of COVID-19 on the BIM Extraction Software Industry
The COVID-19 pandemic is anticipated to create revenue opportunities for companies in the building information modelling (BIM) extraction software market, owing to the need for smart hospital management. Supporting the architectural design process with knowledge engineering methods is an efficient goal-oriented approach for future building & construction projects. This is necessary for assessing the risk of infection in enclosed spaces.

Competitive Landscape

Key providers of BIM Extraction Software Market Trends are focusing on the development of cost-effective and compact solutions to attract more customers. Additionally, players are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach.
• In March 2021, Bentley Systems Inc. agreed to acquire Seequent- a global leader in 3D modeling software for geoscience and building information monitoring. The transaction was agreed upon at a sum of US$ 1.05 Billion. The transaction was fully completed by July 2021
• In March 2022, Autodesk Inc. introduced Bridge- a new collaboration capacity which empowers construction teams to share relevant data with project stakeholders, irrespective of whether they are on the same team or building project within the Autodesk Construction Cloud. Bridge gives teams control over their respective project data sets by enabling them to share select sheets, folders and files with collaborators without having to share all project information
• AVEVA Group Plc. signed a partnership agreement with RIB Software, a global leader in digital technologies for construction, in July 2021. This partnership has opened new frontiers for AVEVA's Project Execution portfolio offering for process and plant industries. Both companies are connecting project teams, allowing them to collaborate more effectively by bringing together the engineering, procurement and construction functions to deliver a true design to solutions.

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Key Segments Covered in the BIM Extraction Software Market Report

• BIM Extraction Software by Software Type :
o On-Premise BIM Extraction Software
o Cloud-Based BIM Extraction Software
• BIM Extraction Software by End Use Industry :
o BIM Extraction Software for Water & Waste Water
o BIM Extraction Software for Rail Transport & Aviation
o BIM Extraction Software for Energy Generation Facilities
o BIM Extraction Software for Roads, Bridges & Highways
o BIM Extraction Software for Houses & Apartments
o BIM Extraction Software for Factories & Warehouses
o BIM Extraction Software for Education Institutes & Commercial Spaces
o BIM Extraction Software for Government Buildings
o BIM Extraction Software for Dams & Others

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Global BIM Extraction Software Market Analysis and Forecast by Region
• North America BIM Extraction Software Market Size and Forecast, 2022-2032
• Germany BIM Extraction Software Market Size and Forecast, 2022-2032
• UK BIM Extraction Software Market Size and Forecast, 2022-2032
• France BIM Extraction Software Market Size and Forecast, 2022-2032
• Spain BIM Extraction Software Market Size and Forecast, 2022-2032
• Japan BIM Extraction Software Market Size and Forecast, 2022-2032
• China BIM Extraction Software Market Size and Forecast, 2022-2032
• Malaysia BIM Extraction Software Market Size and Forecast, 2022-2032
• Thailand BIM Extraction Software Market Size and Forecast, 2022-2032
• Australia BIM Extraction Software Market Size and Forecast, 2022-2032

Check out more related studies published by Fact.MR Research: https://www.prnewswire.com/news-releases/increasing-usage-of-cloud-based-solutions-to-steer-digital-transaction-management-market-past-us-83-25-billion-by-2032--301628185.html

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