Growing Construction Industry to Drive Global Building Information Modeling (BIM) Market to US$11.5 bn by 2022

A new research report has been recently published by Transparency Market Research and made available on the company website. The research report, titled “Building Information Modeling (BIM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022,” presents a detailed analysis of the global building information modeling (BIM) market.

According to the research report, in 2014, the global BIM market was valued at US$2.7 bn and is anticipated to reach a value of US$11.5 bn by the end of 2022, exhibiting a significant 19.10% CAGR between 2015 and 2022.

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Increasing initiatives by governments to boost the adoption rate of BIM services and rising number of construction activities globally are the major factors that are expected to fuel the growth of the global BIM market. On the other hand, the absence of technical expertise and high initial costs of the software are the restraining factors for the growth of the overall BIM market.

Based on solution type, the global BIM market has been classified into consultancy service and software. Furthermore, on the basis of deployment type, the global BIM market is divided into cloud-based software and on-premise software. The cloud-based software segment is growing rapidly owing to the high cost of on-premise software deployment and the growing adoption of cloud-based software by AEC SMEs.

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On the basis of end use, the global BIM market has been categorized into architects, engineers, developers, and contractors. In 2014, the BIM market was dominated by architects, followed by engineers. On the other hand, the contractors segment is estimated to grow rapidly, exhibiting a progressive 22.70% CAGR between 2015 and 2022. On the basis of end-use industry, the global BIM market has been segmented into government buildings, educational institutes and commercial spaces, water and waste water, roads, bridges, highways, rail transit and aviation, houses and apartments, energy generation facilities, factories and warehouses, dams, and others. Among all these segments, in 2014, the rail transit and aviation segment led the overall market and is projected to remain in this position in the coming years.

On the basis of geography, the global BIM market has been classified into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. In 2014, North America dominated the global BIM market, accounting for a share of 33% in the overall BIM market. This region is expected to remain in the leading position throughout the forecast period. Nevertheless, the Asia Pacific BIM market is estimated to grow at a fast pace in the next few years. South Korea, Japan, India, China, and Australia are considered as the major BIM markets in Asia Pacific.

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Furthermore, the research report talks about the competitive landscape of the global BIM market, emphasizing on the company profile, business strategies, financial overview, and SWOT analysis of major players in the market. The major players operating in the global BIM market include Beck Technology Ltd., Pentagon Solutions Ltd., Dassault Systemes SA, Bentley Systems Inc., Tekla Corporation, Autodesk Inc., AECOM, Nemetschek AG, Synchro Software Ltd., and GRAITEC.

Key segments of the Global BIM market:

BIM Market Analysis, by Solution type
Software
Consultancy Service

BIM Software Market Analysis, by Type
On-premise Software
Cloud-based Software

BIM Market Analysis, by End-users
Architects
Contractors
Engineers
Developers

BIM Market Analysis, by End-use industry
Water and Waste Water
Rail Transit and Aviation
Energy Generation Facilities
Roads, Bridges, and Highways
Houses and Apartments
Factories and Warehouses
Educational Institutes and Commercial Spaces
Government Buildings
Dams and Others

BIM Market Analysis, by Geography

North America
U.S.
Rest of North America

Europe
EU7
CIS
Rest of Europe

Asia-Pacific
Japan
China
Australasia
Rest of Asia Pacific

Middle East and Africa (MEA)
GCC Countries
North Africa
South Africa
Rest of MEA

Latin America
Brazil
Rest of Latin America

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.