Building Information Modeling (BIM) Market Size, Share, Trend 2023 Key Trends & Growth Forecasts To 2032

Building Information Modeling (BIM), is a digital representation of a construction project, which can be used by architects, engineers and other construction professionals. It helps in planning, designing, constructing, operating and maintaining the diverse physical infrastructure coupled with speedy data exchange among the involved entities. Nowadays, this software tool is becoming exceptionally popular among end users owing to its lucrative advantages such as increased return on investments (ROIs), time and money saving.

Rapidly increasing number of construction projects globally, rising awareness of BIM and associated benefits, and the growing demand for automated models in architecture, engineering and construction (AEC) industry, have been facilitating its adoption in construction industry, especially for commercial and infrastructure projects. Moreover, government mandates regarding usage of BIM in building constructions would further boost its adoption worldwide.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Enhanced data communication and coordination among various stakeholders coupled with improved construction productivity provides a leading edge to the BIM users. However, high cost of software and limited number of trained professionals are hindering the market growth to an extent. Technological advancements to manage data at a remote server and improved user inter-coordination enabled effectively by cloud based solutions have created ample opportunities for the market growth. Recently launched mobile applications by market leaders such as Autodesk, Inc. and Bentley Systems, Inc., to provide better access to their services have been widely accepted among customers, owing to their superior advantages over traditional CAD software. BIM encourages development of green buildings through energy simulation and prefabrication techniques with effective data exchange during the development of a project, thereby propelling the market growth.

World BIM market is segmented based on solution, software deployment type, end user, vertical and geography. BIM has been increasingly adopted across different verticals encompassing commercial, residential, institutional, industrial and infrastructure. The adoption rate among commercial and infrastructure is growing rapidly owing to mandates in accordance to government regulations. BIM software models are either delivered through cloud or on premise modes to the customers. Cloud-based solutions are gaining increased popularity among customers owing to cost effectiveness and easy access over on premise models. Geographically, BIM market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA). Asia-Pacific would be the fastest growing region owing to the high adoption of BIM in countries such as China, India and Japan.

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KEY BENEFITS:

The study provides an in-depth analysis of the BIM market with current and future trends to elucidate the imminent investment pockets in the market.
The report provides information regarding key drivers, restraints and opportunities with their impact analysis.
Porter's five forces and SWOT analyses of key market players in the industry have been provided to highlight the growth strategies adopted by them.
The value chain analysis of the industry signifies the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
The quantitative analysis of the market during the period of 2015-2022 has been provided to elaborate the market potential.

Key Players

Beck Technology, Ltd.
Autodesk, Inc.
Dassault Systemes SA
Trimble Navigation Ltd.
Synchro Software Ltd.
Pentagon Solutions Ltd.
Bentley Systems, Inc.
AECOM
Nemetschek AG
Asite Solutions Limited

BUILDING INFORMATION MODELING (BIM) MARKET BY SEGMENTS:

The BIM market is segmented based on solution, software deployment type, end user, vertical and geography.
Market by Solution

Software
Service

Software Market by Deployment Type

On premise
Cloud-based

by End User

Architect/Engineer
Contractor
Others

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by Vertical

Commercial
Residential
Infrastructure
Institutional
Industrial

by Geography

North America
Europe
Asia-Pacific
Latin America, Middle East and Africa (LAMEA)

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