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The 5-D building information modeling market size is forecast to increase by USD 807.2 million and is estimated to grow at a CAGR of 15.19% between 2023 and 2028. Five-Dimensional Building Information Modeling (5-D BIM) is the latest evolution in Building Information Modeling (BIM), surpassing the capabilities of its 2D and 3D predecessors. This advanced technology integrates five essential elements: design, geometry, time, cost, and quantity. The primary advantage of 5-D BIM lies in its real-time capability to reflect changes and modifications in design, schedule, cost, and quantities. As the global construction industry grows and becomes increasingly complex, 5-D BIM offers a more efficient, accurate, and collaborative solution. It enables architects, engineers, contractors, and owners to work together in a centralized platform, reducing errors, improving communication, and enhancing project delivery. The real-time nature of 5-D BIM ensures that all stakeholders have access to the most up-to-date information, leading to better decision-making and increased productivity.
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Building Information Modeling (BIM) is a digital representation of a building's physical and functional characteristics, extending beyond 3D models to include 5D data - time, cost, and quantity. The 5D BIM software market is witnessing significant growth due to its integration into the construction management process. Project managers, AEC professionals, consultants, facility managers, and project agents are increasingly adopting 5D BIM software for resource management and improved project data management. The market is driven by the need for efficient construction management, accurate project timelines, and budget control. Preconstruction stages, including design process and work scope planning, are the primary areas where 5D BIM is being employed. Builders are leveraging IoT technology and integrating building components into their BIM models for better waste management and optimization. The construction industry's digital adoption is propelling the growth of the market. Software and services providers like Autodesk are leading the way in this space, offering comprehensive solutions for building projects. The market is expected to continue its growth trajectory, driven by the increasing demand for efficient construction processes and the need for accurate project data. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Advantages of 5-D BIM over previous versions is notably driving market growth. The construction industry's shift towards digital adoption has given rise to the utilization of Building Information Modeling (BIM) in building projects. Traditionally, 3-D BIM models have been effective in visualizing building designs, but they lacked the integration of time and cost dimensions.
Moreover, this gap was addressed with the emergence of 5-D BIM, an advanced version of 4-D BIM, which includes the fifth dimension of cost. 5-D BIM offers numerous benefits to project agents, builders, and estimation specialists. It provides real-time updates on the project timeline and budget, enabling efficient preparation of cost schedules and easy comparison with the target cost. Thus, such factors are driving the growth of the market during the forecast period.
Increasing investment in intelligent processing is the key trend in the market. The 5-D Building Information Modeling (BIM) market is witnessing significant growth due to the integration of advanced technologies such as artificial intelligence (AI) and the Internet of Things (IoT). Estimation specialists are increasingly utilizing 5-D BIM models to streamline the design process, reduce project timeline, and optimize budgets during pre-construction stages.
Moreover, in real time, project agents and project teams can access up-to-date project data, enabling them to make informed decisions regarding work scope and building components. Autodesk and other leading BIM solution providers are investing in AI and IoT to enhance the capabilities of 5-D BIM models. Thus, such trends will shape the growth of the market during the forecast period.
High implementation and operating costs is the major challenge that affects the growth of the market. The market faces growth constraints due to the high cost of specialized 5-D BIM software. Small architectural and engineering firms in the construction industry often find these solutions financially prohibitive, as they require substantial investment. These software packages offer numerous modules for diverse applications, including construction and civil industries.
However, the extensive features are typically underutilized by Small and Medium Enterprises (SMEs) due to the limited size of their projects. SMEs struggle to justify the expense for small-scale projects and are cautious about the potential return on investment. The construction industry's digital adoption is ongoing, but the affordability of advanced 5-D BIM tools remains a significant challenge. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asite Solutions Ltd: The company offers 5 dimensional building information modelling technique which are designed to implement design, construction and operation processes in civil projects.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The software segment is estimated to witness significant growth during the forecast period. Building Information Modeling (BIM) has emerged as a cost-effective alternative to traditional product lifecycle management solutions such as Computer-Aided Design (CAD) and Computer-Aided Engineering (CAE). The 5-D BIM market has gained significant traction in the construction industry due to its ability to provide faster and more precise cost control through the use of clash detection and simulation software.
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The software segment was the largest segment and valued at USD 457.20 million in 2018. The global construction industry's growth has led to a substantial increase in the purchase of 5-D BIM software in recent years. This trend is particularly noticeable in advanced economies like the US, Canada, Germany, the Netherlands, and Japan, where the number of public and private construction projects is on the rise. 5-D BIM software is increasingly being used in various sectors, including industrial buildings, civil infrastructure, oil and gas, utilities, and commercial and residential buildings. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Building Information Modeling (BIM) is a digital representation of buildings and infrastructure, providing a shared Common Data Environment (CDE) for project managers, AEC Professionals, consultants, facility managers, and other stakeholders. BIM software, such as 5D BIM, extends this capability by adding dimensions of time, cost, and quantity to the model. This enhances the construction management process, enabling resource management, visualization, and affordability analysis during preconstruction, construction, operation, and maintenance phases. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Building Information Modeling (BIM) is a digital approach to designing, constructing, and managing buildings and infrastructure. It goes beyond the traditional 3D modeling by incorporating 5D elements: time, cost, and quantities in addition to geometry. The Common Data Environment (CDE) is a crucial component of BIM, enabling seamless data exchange among project stakeholders. 5D BIM software facilitates preconstruction planning, construction, and operation phases by offering features like resource management, scheduling, and cost estimation. AEC Professionals, consultants, facility managers, project managers, and even governmental regulations are embracing this technology. The market landscape depends on the Square footages, Layouts, Project team, Estimation experts, Real time data, Estimation cycle time. Industries such as construction, industrial, civil infrastructure, oil and gas, utilities, and various sectors like commercial (business centres, shopping malls, retail stores), residential, and others are adopting 5D BIM. Moreover, software and services markets for BIM are thriving, with offerings including visualization tools, affordability solutions, and sustainability features. Structural, mechanical, electrical, and plumbing aspects are integrated into BIM models. Facility management, RFID sensors, and cloud-based systems with IoT integration are also becoming essential components of BIM. The future of BIM lies in its ability to harmonize the construction management process, enhancing efficiency, reducing errors, and improving overall project outcomes.
Market Scope |
|
Report Coverage |
Details |
Page number |
137 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.19% |
Market growth 2024-2028 |
USD 807.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
13.37 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Germany, Italy, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
4M SA Advanced Software Engineering Systems, ABB Ltd., ACCA software Spa, Accencies Technologies, Asite Solutions Ltd., Autodesk Inc., AVEVA Group Plc, Beck Technology Ltd., Bentley Systems Inc., Cadsoft Corp., Dassault Systemes SE, Hexagon AB, Monarch Innovation Pvt. Ltd., Nemetschek SE, PENTAGON SOLUTION LTD., RIB Software GmbH, STRABAG SE, TeamSystem Spa, and Trimble Inc. |
Market dynamics |
Parent market analysis, market forecast, market report ,t Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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