Building Information Modeling Market Exploring Market Dynamics and Forecast in 2023-2031 | Asite Solution, Beck Technology Ltd, Bentley Systems, Incorporated, AVEVA Group plc, Dassault Systmes

Building Information Modeling (BIM) is an intelligent 3D model-based process, which provides construction professionals, architecture, and engineers to efficiently design, manage, construct and plan the infrastructure of the buildings. BIM software is popular among end users as it provides lucrative advantages such as increased return on investments (ROIs) and time and money saving. Furthermore, rapidly increasing number of construction projects globally and rise in demand for automated models in the architecture, engineering, and construction (AEC) industry are the major factors driving the growth of the market. Moreover, government mandates regarding the use of BIM in building constructions are expected to boost its adoption worldwide. Enhanced data communication and coordination among various stakeholders, coupled with improved construction productivity provides a leading edge to BIM users. In addition, rising government mandates for BIM usage across the globe and rowing construction industry fuels the growth of the market. However, high cost of the software and limitation of the trained professionals hampers the growth of the market. Furthermore, Technological advancements to manage data at remote servers and improvised inter-coordination between users using cloud-based solutions are expected to provide lucrative opportunities for the growth of the market.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

The global building information modeling market is segmented on the basis of component, deployment model, project life cycle, building type, application, end user, and region. In terms of component, it is bifurcated into solution and services. Based on deployment model, it is segmented into on-premise and cloud. By project life cycle, the building information modeling market is bifurcated into preconstruction, construction, and operations. In terms of building type, it is segmented into commercial, residential and industrial. By application, the market is segmented into, planning & modelling, construction & design, asset management, building system analysis & maintenance scheduling, and others. As per end user, it is divided into architects/engineers, contractors, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the building information modeling market along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of building information modeling market for the period 2020-2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- Autodesk, Inc.
- Asite Solution
- Beck Technology Ltd
- Bentley Systems, Incorporated
- AVEVA Group plc
- Dassault Systmes
- Hexagon AB
- Nemetschek SE
- Pentagon Solution Ltd
- Trimble Ltd.

KEY MARKET SEGMENTS
BY COMPONENT
- Solution
- Service

BY DEPLOYMENT MODE
- On-premise
- Cloud

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BY PROJECT LIFE CYCLE

- Preconstruction
- Construction
- Operations

BY APPLICATION
- Planning & Modelling
- Construction & Design
- Asset Management
- Building System Analysis & Maintenance Scheduling
- Others

BY BUILDING TYPE
- Commercial
- Residential
- Industrial

BY END USER

- Architects/Engineers
- Contractors
- Others

BY REGION
- North America
o U.S.
o Canada

- Europe
o UK
o Germany
o France
o Russia
o Italy
o Rest of Europe

- Asia-Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Rest of Asia-Pacific

- LAMEA
o Latin America
o Middle East
o Africa

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