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The building information modeling software market size is forecast to increase by USD 6.64 billion at a CAGR of 19.61% between 2022 and 2027. 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. It 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.
BIM technology enhances collaboration, coordination, and efficiency in the construction process. Building system analysis & maintenance scheduling is essential for ensuring efficient operation and longevity of constructed systems, while integration of VR and AR technologies with BIM technology enhances visualization and collaboration among architects/engineers.
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Modern construction and software solutions have revolutionized the industry by enhancing design, collaboration, and efficiency. Utilizing advanced modeling techniques and virtual reality technology, professionals can visualize projects in 3D, enabling more accurate visualization and streamlined project management. These digital tools facilitate seamless integration of data across architecture and engineering, empowering teams to access comprehensive building information for informed decision-making. Through constant innovation and the adoption of cutting-edge solutions, the construction industry continues to evolve, driving progress and excellence in building projects.
The escalating demand for technology-driven solutions in the construction industry fuels the growth of the BIM software market. Organizations prioritize efficient project management and resource allocation, emphasizing the need for sophisticated software to handle large-scale projects effectively. BIM solutions automate processes, ensuring consistent follow-up and resource management, thereby enhancing efficiency and innovation. Integration of digital tools enables seamless collaboration and data integration throughout the design and engineering phases, facilitating virtual 3D modeling and visualization for accurate project representation. Consequently, BIM software optimizes project workflows and enhances profitability by streamlining architecture and building information processes.
The growth of 5D building information modeling is the primary trend in the 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 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 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, 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 and 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. It 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. BIM 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.
The BIM 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.
BIM software revolutionizes the construction sector with advanced digital representations and cost estimation tools. It streamlines budgeting and cost control while optimizing construction schedules and sequencing plans. Mandates by governments drive the adoption of digital technology across the construction sector. Initial expenditure on BIM technology yields long-term benefits throughout the project life cycle. Integration of Virtual Reality (VR) and Augmented Reality (AR) enhances project visualization and decision-making processes. Architects and engineers leverage BIM for efficient construction design and asset management. The IoT sensors facilitate facility management while meeting government mandates. With the continuous product launch and innovation, the BIM software market continues to evolve and expand.
Government initiatives play a crucial role in shaping the construction sector, driving the adoption of efficient construction operations and digital construction practices. However, challenges such as low productivity and the need for initial expenditure persist. The adoption of BIM technology and BIM hardware facilitates better data management and supports process changes. Technologies like Virtual Reality (VR) and Augmented Reality (AR), alongside platforms like Bentley infrastructure cloud and iTwin, enhance collaboration and visualization. Industry leaders like Bentley Systems Incorporated and Dassault Systèmes offer cutting-edge software solutions for improved monitoring, operation, and innovation in architecture and structural engineering. Compliance with regulations remains critical for all stakeholders involved in construction projects
The BIM 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.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.61% |
Market growth 2023-2027 |
USD 6.64 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
18.12 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, Market forecasting, 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 |
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