Building Information Modeling Market to Grow Exponentially Driven by Increasing Complexity of Construction Projects Coupled with Government Mandates and Standards

Building Information Modeling Market Scope & Overview

According to a report by SNS Insider, the Building Information Modeling Market reached a value of USD 6.85 billion in 2022. It is projected to reach USD 17.32 billion by 2030, with a compound annual growth rate (CAGR) of 12.3% during the forecast period from 2023 to 2030.

Building Information Modeling (BIM) is an advanced digital technology and process that revolutionizes the way buildings and infrastructure are designed, constructed, and managed. It involves creating and managing a comprehensive digital representation of a project's physical and functional characteristics.

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Key Players Covered in Building Information Modeling market report are:

Autodesk,
Aveva Group,
Dassault Systems,
Nemetschek,
Trimble,
Asite Solutions,
Bentley Systems,
Hexagon,
Beck Technology,
Pentagon Solution.

Market Analysis

Governments worldwide are increasingly recognizing the potential of BIM in improving infrastructure development, reducing costs, and enhancing sustainability. As a result, many governments are mandating the use of BIM in public projects, further driving building information modeling market growth. BIM facilitates collaboration and integration among various stakeholders, including architects, engineers, contractors, and facility managers. This integrated project delivery approach enhances coordination, minimizes conflicts, and improves overall project efficiency and quality.

Impact of Recession

A recession can have a negative impact on the building information modeling market, resulting in reduced construction spending, delays and cancellations of projects, budget constraints, decreased adoption rates, a shift in project types, and increased competition. However, the exact impact will depend on various factors, and the market may be influenced by government initiatives aimed at stimulating the construction sector during challenging economic times.

Segmentation Analysis

The dominance of the Cloud Deployment and Industrial Segments in the Building Information Modeling market is a testament to their significant impact on the AEC industry. Cloud-based BIM solutions offer unparalleled accessibility, collaboration, and integration, while the industrial segment harnesses BIM's power to tackle the complexities of large-scale projects. These segments will continue to drive innovation, shape industry standards, and unlock new possibilities in the BIM ecosystem, ultimately leading to improved project outcomes, reduced costs, and sustainable development in the built environment.

Building Information Modeling Market Segmentation as Follows:

BY COMPONENT:
Software and solution
Services

BY DEPLOYMENT MODE:
Cloud Deployment
On Premises Deployment

BY PROJECT LIFECYCLE:
Construction
Operation
Preconstruction

BY APPLICATION:
Industrial
Buildings
Civil Infrastructure
Utilities
Oil & Gas
Others

BY END USER:
Consultants & Facility Managers
AEC Professionals
Others

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

With its technological prowess, industry collaboration, growing adoption, government support, and research excellence, North America is poised to dominate the building information modeling market. The region's ability to harness the power of BIM for improved project outcomes, reduced costs, and enhanced sustainability will continue to drive its success. As the BIM market expands globally, North American companies are well-positioned to lead the way, shaping the future of the construction and architecture industries.

Conclusion

As BIM continues to evolve and demonstrate its value across the entire building lifecycle, it will become an integral part of the construction industry, leading to increased market penetration and substantial growth opportunities for software providers, service providers, and other stakeholders.

Frequently Asked Questions about this Research Report

Q1. What is the projected outlook for building information modeling market growth?

ANS: The market is projected to exceed USD 17.32 billion by the year 2030.

Q2. What are the major factors influencing the building information modeling market?

ANS: Rapid urbanization, population growth, and infrastructure development projects worldwide are fueling the demand for BIM.

Q3. Who are the leading players in the building information modeling market?

ANS: Autodesk, Aveva Group, Dassault Systems, Nemetschek, Trimble, Asite Solutions, Bentley Systems, Hexagon, Beck Technology, Pentagon Solution.

Table of Content - Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Building Information Modeling Market Segmentation, By Component
9. Building Information Modeling Market Segmentation, By Deployment Mode
10. Building Information Modeling Market Segmentation, By Project Lifecycle
11. Building Information Modeling Market Segmentation, By Application
12. Building Information Modeling Market Segmentation, By End User
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

Continued…

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