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Global Building Information Modeling Market Overview 2033 : Forecasted Market Size And Growth Rate | Autodesk, The Nemetschek Group, Bentley Systems Incorporated, Trimble Navigation Limited
Building Information Modeling Global Market Report
The Business Research Company presents an extensive market research report on the Building Information Modeling Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The building information modeling market size has grown rapidly in recent years. It will grow from $8.06 billion in 2023 to $9.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to expansion of building lifecycle management, industry standards and certifications, efficiency and cost savings, government initiatives and mandates, emergence of 3d modeling..
The building information modeling market size is expected to see rapid growth in the next few years. It will grow to $17.46 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to rise in remote collaboration tools, emphasis on building performance analysis, focus on smart cities and urban development, growing demand for facility management integration, advancements in 5d bim .. Major trends in the forecast period include integration of artificial intelligence (ai) and machine learning, rise of cloud-based bim solutions, focus on sustainable design and green building practices, expansion of virtual reality (vr) and augmented reality (ar) in bim..
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Key Market Players:
Major companies operating in the building information modeling market report are Autodesk, The Nemetschek Group, Bentley Systems Incorporated, Trimble Navigation Limited, Pentagon Solutions, Asite Solutions, AVEVA Group plc, Hexagon AB, ACCA Software Inc., Vector Networks Inc., Revit Modelling India, Pinnacle Infotech, Planon Group, LOD Planner Inc., Cadsoft Corp., Archidata Inc., Tekla Corporation, Dassault Systèmes, Graphisoft SE, Procore Technologies Inc., Bluebeam Inc., Synchro Software Ltd., Architecture Engineering Construction Operations and Management, Mott MacDonald Group, PTC Inc., Siemens Digital Industries Software, Corecon Technologies Inc., Newforma Inc., BIMobject AB, FARO Technologies Inc., Hilti Group, ClearEdge3D Inc., PlanGrid, Solibri Inc., ALLPLAN, RIB Software SE, BuildingConnected, Pointfuse Ltd.
Market Drivers:
The rapid rise in construction is expected to propel the modular construction market going forward. The construction industry is the industrial branch of trade and manufacturing concerned with constructing, repairing, renovating, and maintaining infrastructures. The construction activities create a demand for building information modelling to achieve higher productivity and shorter project lifecycles through increased communication and coordination. This enables the construction business to speed up the entire project by significantly reducing work and time. For instance, in October 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Furthermore, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, a rapid rise in construction is expected to drive the growth of the building information modeling (BIM) market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/building-information-modeling-global-market-report
The building information modeling market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Type: On Premises Deployment, Cloud Deployment
3) By Project Lifecycle: Preconstruction, Construction, Operation
4) By Application: Planning and Modelling, Construction And Design, Assest Management, Building System Analysis And Maintenance Scheduling, Other Applications
5) By End User: Architects/Engineers, Contractors, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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