Building Information Modelling Market Trends And Segments Forecast To 2029

The global building information modelling market size was valued at USD 6,524.5 million in 2022 and is poised to grow at a CAGR of 9.8% during the forecast period 2023 to 2029. The primary factors that drive the market are the growing in technology in modern construction, rising BIM tools for digitalisation of construction model, and increasing demand of various software in visualization of buildings.

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Residential Application to Dominate the Building Information Modelling Market:
Based on user type, residential modelling holds the highest market share. The major factor for the rise of this segment is that the use of residential modelling eradicates the damage on post construction early visualisation helps to construct strong project for longer and durable use. For most industrial and commercials, building information modelling is a real solution as a user can digitalize their project and check the project for any damage and disbalance, some software are available in the market like AutoCAD, Autodesk, and others. These factors can drive the Building Information Modelling Market growth.

Asia Pacific Building Information Modelling Market:
Asia Pacific region is expected to grow significantly in the global Building Information Modelling size over the forecast period. Increase infrastructure in the region like China, India and Japan leads needs various skilled professional and software to development of their country in infrastructure and development of a greater number of smart cities in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Building Information Modelling Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share., In November 2022, November 2022 - Bentley announced new capabilities of its iTwin Platform, significantly extending the scope and interoperability of infrastructure data that engineering firms and owner-operators can use to create and leverage digital twins in design, construction, and operations workflows., In September 2022 - Autodesk announced a suite of new capabilities across the auto desk construction cloud reality, making it easier for construction project teams to use and maximize the value of BIM from the office to the field. The improvements enable team members to streamline workflows and make important choices more quickly by giving all stakeholders instant access to essential model data and information, The Building Information Modelling Market is segmented based on deployment type, project lifecycle, application, end-user, and geography.

Based on the deployment type, the market is segmented into the following:
• On Premises Deployment
• Cloud Deployment

Based on the project lifecycle, the market is segmented into the following:
• Preconstruction
• Construction
• Post Construction

Based on the application, the market is segmented into the following:
• Commercial
• Residential
• Industrial
• Others

Based on the end user, the market is segmented into the following:
• Government
• Architect
• Engineering
• Builders
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the building information modelling market report are Autodesk Inc., Bentley systems, Dassault Systems SA, Hexagon AB, Nametschek, Trimble, RIB software, ASITE, AVEVA Groups Inc., Pentagon Solutions, Pinnacle InfoTech, and LOD planner Inc.

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