5-D Building Information Modeling Market by Type and Geography - Forecast and Analysis 2022-2026

The 5-D building information modeling market share is expected to increase to USD 840.99 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.68%.

This 5-D building information modeling market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers 5-D building information modeling market segmentation by type (software and service) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The 5-D building information modeling market report also offers information on several market vendors, including 4M SA Advanced Software Engineering Systems, ABB Ltd., ACCA software Spa, Accencies Technologies, AECOM, 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. among others.

What will the 5-D Building Information Modeling Market Size be During the Forecast Period?

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5-D Building Information Modeling Market: Key Drivers, Trends, and Challenges

The advantages of 5-D bim over previous versions is notably driving the 5-D building information modeling market growth, although factors such as the high implementation and operating costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the 5-D building information modeling industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key 5-D Building Information Modeling Market Driver

• One of the key factors driving growth in the 5-D building information modeling market is the advantages of 5-D BIM over previous versions.
• Construction projects which are undertaken through third-dimensional (3-D) BIM does not provide a platform for the integration of time and cost factors. This led to the emergence of 5-D BIM, which considers more dimensions.
• 5-D BIM is considered an evolution of fourth-dimensional (4-D) BIM and 3-D BIM.
• With the help of 5-D BIM, an investor can obtain information on the following things easily: deviation from the pre-determined project schedule and budget, in-house database with complete details regarding the cost and labor productivity rates, efficient preparation of cost schedules, and real-time cost estimation for an easy and quick comparison with the target cost. Such factors will contribute to the growth of the global 5-D BIM market.

Key 5-D Building Information Modeling Market Trend

• The increasing investment in intelligent processing is a 5-D building information modeling market trend that is expected to have a positive impact in the coming years.
• Many players in the market are focusing on integrating intelligent processing techniques and artificial intelligence (AI) with 5-D BIM.
• The civil industry has fewer applications of AI and is showing slow adoption due to the high R&D cost associated with the adoption of 5-D BIM.
• Integrating AI with 5-D BIM in the civil and construction industries helps end-users such as builders, contractors, engineers, and architects overcome challenges, improve efficiency and productivity, and save time and money through implementing 5-D BIM algorithms.
• The integration helps engineers and builders in the following aspects: reinforcement learning, predictive applications, supervised learning, machine learning, and image recognition. Therefore, increasing investment in intelligent processing will propel the growth of the global 5-D BIM market.

Key 5-D Building Information Modeling Market Challenge

• The high implementation and operating costs will be a major challenge for the 5-D building information modeling market during the forecast period.
• The high cost of 5-D BIM software impedes the growth of the global 5-D BIM market. Due to its high price, small architectural and engineering firms in the construction industry are reluctant to adopt 5-D BIM software.
• The software packages are offered with many modules that can be used for various applications in end-user industries, such as construction and civil. However, these packages are of minimal use to SMEs, considering the size of the projects. Hence, they do not opt for these solutions and prefer adopting solutions that fit their budget.
• Most SMEs find it difficult to invest large amounts in small projects and are skeptical about the return on investment (ROI).
• 5-D BIM solutions are complex and require trained professionals to use the software. Hence, the high cost of training associated with these solutions will restrict the adoption of 5-D BIM software.

This 5-D building information modeling market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global fifth dimensional (5-D) building information modeling (BIM) software market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the 5-D building information modeling market during the forecast period.

Who are the Major 5-D Building Information Modeling Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 4M SA Advanced Software Engineering Systems
• ABB Ltd.
• ACCA software Spa
• Accencies Technologies
• AECOM
• 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
• Trimble Inc.

 

This statistical study of the 5-D building information modeling market encompasses successful business strategies deployed by the key vendors. The 5-D building information modeling market is fragmented and the vendors are deploying growth strategies such as investing in designing, planning, developing, branding, expanding existing facilities, and acquiring new players to compete in the market.

Product Insights and News

• asite.com - The company offers 5-dimensional building information modeling techniques which is designed to implement the design, construction, and operation processes in civil projects.

• asite.com - Under the unified segment, the company is involved in offering a collaborative and secure project management system built on a cloud-based platform to plan, design, and seamlessly share information across the entire supply chain.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The 5-D building information modeling market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

5-D Building Information Modeling Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the 5-D building information modeling market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for 5-D Building Information Modeling Market?

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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for 5-D building information modeling in North America. Market growth in this region will be slower than the growth of the market in the South American, APAC, and MEA regions.

The growth of the residential and non-residential construction sectors in the US will facilitate the 5-D building information modeling market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the regional construction industry witnessed a deceleration in its growth rate owing to the outbreak of the COVID-19 pandemic. However, with the initiation of large-scale COVID-19 vaccination drives from Q3 2020 and the subsequent lifting of lockdown restrictions, several construction projects, which had been halted, as well as new projects started in 2021. 

What are the Revenue-generating Type Segments in the 5-D Building Information Modeling Market?

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The 5-D building information modeling market share growth by the software segment will be significant during the forecast period. With the growth of the global construction industry, the purchase of 5-D BIM software has significantly increased in recent years. The demand for this software is rising in Europe and North America, owing to the growth in the number of public and private construction projects undertaken through 5-D BIM. This drives the extensive use cases of software for 5-D BIM across these advanced economies such as the US, Canada, Germany, the Netherlands, and Japan.

This report provides an accurate prediction of the contribution of all the segments to the growth of the 5-D building information modeling market size and actionable market insights on post COVID-19 impact on each segment.

 

5-D Building Information Modeling Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.68%
Market growth 2022-2026	$ 840.99 million
Market structure	Fragmented
YoY growth (%)	15.2
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, China, Germany, Italy, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	4M SA Advanced Software Engineering Systems, ABB Ltd., ACCA software Spa, Accencies Technologies, AECOM, 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 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 the 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.

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What are the Key Data Covered in this 5-D Building Information Modeling Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive 5-D building information modeling market growth during the next five years
• Precise estimation of the 5-D building information modeling market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the 5-D building information modeling industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of 5-D building information modeling market vendors

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