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Key Factor Supporting Building Information Modeling Market Development in 2025: Surging Construction Activities Fuel Growth In The Modular Construction Market
Building Information Modeling Market Analysis
How Large Will the Building Information Modeling Market Size By 2025?
In recent times, the scale of the building information modeling market has experienced a swift expansion. The growth from $7.39 billion in 2024 to an estimated $8.59 billion in 2025, signifying a compound annual growth rate (CAGR) of 16.3%, can be traced back to several factors. These include the broadening of building lifecycle management, the advent of industry standards and certifications, improved efficiency and cost-effectiveness, initiatives and obligatory regulations by the government, and the rise of 3D modeling.
How Big Is the Building Information Modeling Market Size Expected to Grow by 2029?
The market size for building information modeling is predicted to experience a rapid surge in the upcoming years, expanding to a value of $16.43 billion by 2029, with a compound annual growth rate (CAGR) of 17.6%. The projected growth during the forecast period can be ascribed to the rise in the use of remote collaboration tools, increased focus on building performance analysis, and the push towards smart cities and urban development. There's also a burgeoning demand for facility management integration and advancements in 5D BIM contributing to the growth. The predicted trends for this period include incorporation of artificial intelligence (AI) and machine learning, the emergence of cloud-based BIM solutions, an emphasis on sustainable design and green building practices, and the broadening application of virtual reality (VR) and augmented reality (AR) in BIM.
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Which Key Market Drivers Powering Building Information Modeling Market Expansion and Growth?
The anticipated exponential growth in the construction sector is set to drive the modular construction market. This sector, which revolves around the construction, repair, renovation, and maintenance of infrastructures, is part of the industrial segment of trade and manufacturing. The surge in construction activities generates a need for building information modelling to enhance productivity and reduce project timelines through improved communication and coordination. This, in turn, allows the construction industry to expedite the entire project by drastically cutting down on work and time. For instance, the US Census Bureau, an agency of the US government, reported in July 2024 that the value of construction work escalated from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, the expected surge in construction activities is likely to stimulate the growth of the building information modeling (BIM) market.
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Which Fast-Growing Trends Are Poised to Disrupt the Building Information Modeling Market?
The trend of incorporating IoT (Internet of Things) into construction is progressively becoming more renowned in the building information modeling (BIM) market. The use of IoT in this field can effectively simplify the procedures of ordering and modeling, consequently shortening the amount of time required in these processes. Noteworthy entities in the building information modeling industry have their sights set on creating IoT-oriented solutions to solidify their standing in the market. For example, SIMLAB, a tech firm based in Poland, integrated BIM and IoT smart building technologies within Matterport Digital Twins in March 2022. This innovative technology allows individuals involved in the management of construction projects to closely monitor multiple vital points throughout the process of architectural design and to virtually inspect construction locations without the need to physically visit the site.
What Are the Emerging Segments in the Building Information Modeling Market?
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, Asset Management, Building System Analysis And Maintenance Scheduling, Other Applications
5) By End User: Architects Or Engineers, Contractors, Other End Users
Subsegments:
1) By Software: 3D Modeling Software, BIM Management Software, Visualization Software
2) By Services: Consulting Services, Implementation Services, Training And Support Services
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Who Are the Global Leaders in the Building Information Modeling Market?
Major companies operating in the building information modeling market 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.
Which are the Top Profitable Regional Markets for the Building Information Modeling Industry?
North America was the largest region in the building information modeling market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building information modeling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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