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The building information modeling software (BIM) market size is estimated to grow at a CAGR of 19.61% between 2022 and 2027. The market size is forecast to increase by USD 6,631.73 million. The growth of the market depends on several factors, including the increasing need for the management of large-scale projects, reduction in design time, and growth of the global construction market. Building information modeling software is a software solution that enables the creation of a vector-based representation of construction projects, including buildings, railways, and roads. It provides a digital representation of the physical characteristics of the project and also captures the necessary data during the construction phase.
This building information modeling software market report extensively covers market segmentation by end-user (architects, AEC engineering offices, contractors, facility managers, and others), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing need for the management of large-scale projects is the key factor driving the growth of the global building information modeling software market. Organizations are currently concentrating on developing and managing the resources required for efficient product outputs, which raises the need for efficient solutions for managing large-scale construction projects. The primary goal of building information modeling solutions is to automate processes in order to manage resources and maintain consistent follow-up while ensuring maximum outputs. Automated services improve connectivity, giving businesses the chance to respond quickly and efficiently to project-related inquiries with building information modeling software market.
Moreover, by using building information modeling solutions, profitability possibilities can be rapidly increased by calculating conversion ratios and running reports to track the metrics detailed as per customer demand. By automating the latest sales leads, notifying salespersons becomes an easy task, which leads to lower workloads. Hence, such benefits of building information modeling software will boost the market growth during the forecast period.
The growth of 5D building information modeling is the primary trend in the global building information modeling software market. The integration of time and cost factors into construction projects carried out using 3D building information modeling is not supported. Due to this, 5D building information modeling, which takes into account more dimensions, emerged. An advancement over 4D and 3D building information modeling is 5D building information modeling.
Moreover, with the help of 5D building information modeling, an investor can obtain information on the deviation from the pre-determined project schedule and budget, an in-house database with complete details regarding the cost and labor productivity rates. Also, with the help of 5D building information modeling, efficient preparation of cost schedules and real-time cost estimation for easy and quick comparison with the target cost will be done in the building information modeling (BIM) software market. Thus, this trend will drive the growth of the market during the forecast period.
Challenges from open-source platforms affect the growth of the global building information modeling software market. With the growing demand for digitalization in the current market scenario, the demand for open-source software raised in the market. The open-source market players offer a wide range of business analytics tools and applications. Consequently, many small and emerging businesses use them as opposed to investing in commercial software. Also, most open-source building information modeling (BIM) software market includes the basic and common features that are offered in proprietary software, which creates direct competition with commercial building information modeling software.
The growing adoption of open-source solutions is decreasing the profit margins of the vendors. Building information modeling software from GRAPHISOFT, eSUB, and GenieBelt are some of the common open-source building information modeling (BIM) software available in the market. Besides, open-source platforms are peer-reviewed software, which leads to more reliability. Hence, such challenges from open-source platforms affect the growth of the global building information modeling software market during the forecast period.
The market share growth by the architects segment will be significant during the forecast period. In the building information modeling (BIM) software market, by allowing architects to create digital models that incorporate every aspect of a building's design, building information modeling software has completely changed how buildings are designed and constructed. The entire construction process and building lifecycle can be streamlined with the help of this 3D model-based approach, which enables architects to work with other professionals like engineers and contractors.
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The architects segment showed a gradual increase in the market share of USD 929.37 million in 2017 and continued to grow by 2021. Architects can easily modify and iterate their designs using building information modeling software, making the process more effective and iterative. This eliminates the requirement for traditional 2D drawings and lowers the possibility of miscommunications or mistakes during the construction phase. This promotes better communication among team members, reduces conflicts and clashes between different design elements, and saves time and costs by identifying and resolving potential issues before construction even begins. Building information modeling models include specifications, maintenance schedules, and supplier information, along with detailed information about each component of a building. Thus, these benefits will boost market growth.
The growth of the on-premises segment is attributed to the increased security features incorporated in this deployment model. The market is dominated by large organizations, most of which place more prominence on functionality than cost efficiency. The on-premises model is more secure than cloud-based solutions owing to end-to-end quality control, thereby supporting the growth of this market segment. The on-premises model is rising at a fast pace as large organizations that deploy it mainly deal with critical data. In addition, massive amounts of crucial data are handled by large organizations. Due to data security concerns and end-to-end quality issues, they choose on-premises building information modeling solutions. Thus, this will raise the adoption of on-premises building information modeling software and solutions during the forecast period.
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North America is estimated to contribute 40% 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 BIM software market during the forecast period. The US is the leading country in the construction industry in North America. The average annual spending of the US construction industry is around USD 1 trillion. Building information modeling software market growth in the US is anticipated to be driven by the expansion of both the residential and non-residential construction industries. North America has always been a prominent market for vendors, as the region is an early adopter of advanced technologies across verticals. Strong market existence and the penetration of top vendors increase the overall market growth in the region.
Moreover, BIM Software plays an important role in simplifying the flow of information technology and services with on-time tracking to monitor construction development. Due to a positive economic outlook and increased investments in the regional real estate sector, rising construction activities drive the growth of the real estate software market in the region. In addition, apart from the US, other countries in the region such as Canada and Mexico are also witnessing infrastructure growth and an increase in construction projects. For instance, in Mexico City, the Metro Line 1 Modernization project is in progress, the work commenced in Q3 2021, and work is expected to be completed by the end of 2023. Hence, economic growth in the region will fuel the growth of the BIM software market in the region during the forecast period.
In 2020, the regional construction industry had a negative impact due to the outbreak of the COVID-19 pandemic which affects the growth of the BIM software market. The US recorded the highest number of COVID-19 patients in the world. However, with the starting of large-scale COVID-19 vaccination drives in Q3 2020 and the subsequent lifting of lockdown restrictions, several construction projects, which had been stopped, as well as new projects, started in 2021. Thus, the starting of these construction projects will raise the demand for Building information modeling software during the forecast period.
The Building Information Modeling Software Market industry 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 growth strategies.
Global Building Information Modeling Software Market 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.
Bentley Systems Inc.:The company offers building information modeling software namely Bentley SYNCHRO 4D.
dalux.com: The company offers to build information modeling software namely Dalux Box.
Dassault Systems: The company offers building information modeling software such as CATIA, 3DEXPERIENCE Platform.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market 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 building information modeling software market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Building Information Modeling Software Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.61% |
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Market growth 2023-2027 |
USD 6,631.73 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
18.12 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, China, Japan, UK, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Autodesk Inc., Bentley Systems Inc., Dalux Corp., Dassault Systemes SE, Glodon Co. Ltd., Hexagon AB, KUBUS B.V., MRI Software LLC, Nemetschek SE, Oracle Corp., Plannerly, Planon Shared Services BV, Procore Technologies Inc., Revizto SA, Schneider Electric SE, thinkproject Holding GmbH, Trimble Inc., Virtual Construction and Technology BIM One Inc., Asite Solutions Ltd., and Pinnacle Infotech |
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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 forecast period. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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