Building Information Modeling (BIM) Market to Hit USD 21.06 Billion by 2034 | Rising at a CAGR of 10.3%

The building information modeling market is projected to grow from USD 7.92 billion in 2024 to USD 21.06 billion by 2034; it is expected to expand at a CAGR of 10.3% from 2025 to 2034. Global government mandates, supportive policies, and rising investments in smart city development are driving increased demand for BIM.

Building Information Modeling Explanation
Building information modeling, or BIM, is a digital process that involves creating and managing detailed, 3D representations of the physical and functional characteristics of buildings and infrastructure. It enables architects, engineers, contractors, and stakeholders to collaborate more effectively throughout a project's lifecycle, from design and construction to operation and maintenance. By integrating data, visualization, and real-time collaboration, BIM improves accuracy, reduces costs, and enhances decision-making in construction and facility management.

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Key Factors Driving the Market
• The rapid pace of global urbanization is fueling growth in the BIM market. As cities expand, there is a growing demand for advanced infrastructure, including roads, bridges, and public transit systems. BIM plays a crucial role in meeting these needs by integrating geospatial data, allowing engineers to plan routes, evaluate environmental impacts, and coordinate utilities with greater efficiency.

• Smart cities depend on interconnected systems, data analytics, and digital technologies to optimize resource use, minimize environmental impact, and improve quality of life, goals that closely align with BIM's capabilities. The development of smart cities also demands more intelligent planning, construction, and management of infrastructure, positioning BIM as an essential tool for architects, engineers, and contractors.

Competitive Analysis
The building information modeling (BIM) market is highly competitive, marked by intense competition among leading players striving to expand their product portfolios. Some of the major companies in the market are:
• ACCA Software
• Asite
• Autodesk
• AVEVA (Schneider)
• Bentley Systems
• CYPE Ingenieros
• Dassault Systèmes
• Hexagon AB
• Nemetschek Group
• Procore Technologies
• Siemens Digital
• Trimble Inc.

Industry Developments
January 2025:
AVEVA announced a partnership with French technology company Ingeloop to integrate Building Information Modeling (BIM) capabilities into its AVEVA E3D Design platform. Through the integration of Ingeloop's BCFNode tool, the collaboration introduced BCF (BIM Collaboration Format) issue management, significantly improving communication and coordination within 3D design workflows.
August 2024:
CYPE launched Open BIM SATO, a specialized software solution aimed at supporting the maintenance phase of buildings. This development expands CYPE's suite of BIM tools, emphasizing lifecycle management and long-term operational efficiency in building projects.
June 2024: H
exagon strengthened its Building Information Modeling (BIM) solutions with the acquisition of Voyansi, a provider of BIM, Virtual Design and Construction (VDC), and reality capture services. The acquisition bolsters Hexagon's AECO (Architecture, Engineering, Construction, and Operations) portfolio by enabling more precise 3D modeling, improving construction data accuracy, and supporting enhanced digital construction lifecycle management.

Building Information Modeling Market Report Highlights
• In terms of solution, the software segment is projected to reach USD 13.4 billion by 2034. This growth is attributed to the increasing pressure to improve efficiency and reduce waste in the construction industry.
• Based on deployment type, the on-premises segment is projected to reach USD 6.7 billion by 2034 at a CAGR of 9.8% during 2025-2034. This growth is attributed to their ability to give complete control to organizations over project data, security protocols, and software customization.
• In terms of building type, the commercial segment dominated the building information modeling market, and held a market share of 36.42%. This dominance is attributed to the growing complexity of modern commercial projects.

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Table of Contents Building Information Modeling (BIM) Market
Chapter 5. Building Information Modeling (BIM) Market Assessment, By Solution
5.1 Introduction
5.2 Software
5.3 Services
Chapter 6. Building Information Modeling (BIM) Market Assessment, By Deployment Type
6.1 Introduction
6.2 Cloud Based
6.3 On Premises
Chapter 7. Building Information Modeling (BIM) Market Assessment, By Building Type
7.1 Introduction
7.2 Commercial
7.3 Industrial
7.4 Residential
7.5 Public Infrastructure
7.6 Others
Chapter 8. Building Information Modeling (BIM) Market Assessment, By Project
8.1 Introduction
8.2 Preconstruction
8.3 Construction
8.4 Operation

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