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Building Information Modelling Market Overview
The Building Information Modelling Market size is projected to grow from USD 10.1 billion in 2024 to USD 29.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.3% during the forecast period (2024 - 2032). Additionally, the market size for Building Information Modelling (BIM) was valued at USD 9.3 billion in 2023.
The growing number of government mandates and policies for the adoption of rapid urbanization and growing digitalization in the construction industry are some of the key drivers of the BIM market growth.
Figure 1: Building Information Modelling Market Share, 2022-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Covid-19 Analysis
Governments across the globe had imposed lockdowns to control the effects of the coronavirus. These have triggered a shortage of raw material and workforce, which had affected the ongoing construction projects by the contractors. It has also resulted in the disruption of the supply chain, which had resulted in distractions for contractors for performing contractual obligations. Additionally, in the construction and engineering sector, some of the machinery and material import and export witnessed disruptions. Contractors across the globe stated that they had witnessed project delays due to COVID-19. Apart from government-mandated closures of project sites, the other reasons include postponements in shipments of materials and equipment, tasks of searching for new workers, owners withdrawing or rescheduling their projects, and trouble in getting the necessary authorizations and inspections as government offices have reduced their availability, thereby impacting BIM market.
Building Information Modelling Market Trends
Growing Digitalization In The Construction Industry
Digitalization in the construction industry is driven by various factors, including capturing information in a model, use of technologies, single source of truth, digital collaboration, future-proof designs, and construction. Each of these factors is provided by BIM software, which results in its higher adoption. For instance, if a building is designed in BIM software, and its information is captured in the BIM model, then this data can be shared between all the stakeholders using the cloud. The building is first built digitally to avoid failures in the actual building process. Digital construction addresses the challenge of low productivity in the sector. This enables the integration of processes throughout the entire lifecycle by utilizing BIM systems. Hence, the growing digitalization in the construction industry enhances the adoption of BIM software and thus drives the market growth.
Building Information Modelling Market Segment Insights
Building Information Modelling Component Insights
Based on component, the BIM market has been segmented into BIM software and BIM services. BIM software holds the largest market share in the market. A BIM software is a 3D design and modeling software that helps the user to optimize the work of designing for construction, civil, architecture, plant, and MEP projects. The BIM software is further segmented into construction management, designing software, cost estimation & scheduling, operation and maintenance, and others. BIM services is further segmented into professional services and managed services. This is a method of approaching documentation and design for a wide range of projects.
June 2021: The Nemetschek Group collaborated with Allplan and SDS; the alliance focuses on creating strong and customer-focused products related to BIM software.
October 2019: Beck Technology Ltd partnered with Procore Technologies, Inc., a provider of construction management software, to ensure a streamlined workflow. This partnership enhances the productivity of the builders.
FIGURE 2: BUILDING INFORMATION MODELLING MARKET SHARE BY COMPONENT 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Building Information Modelling Project Lifecycle Insights
Based on project lifecycle, the BIM market has been segmented into pre-construction, construction, and operation. Pre-construction segment is expected to hold a largest market share in the market. However, operation segment is expected to grow at a highest CAGR. The pre-construction segment is further segmented into conceptual stage, design stage, and pre-construction stage (Bidding & Selection of GC).
Building Information Modelling Deployment Insights
Based on deployment model, the BIM market has been segmented into on-premise and on-cloud. On-premise holds a largest market share in the market and is expected to grow at a highest CAGR.
Building Information Modelling End User Insights
Based on end user, the BIM market has been segmented into government, architect, engineering, contractors, facility managers, maintenance technicians, academic, and owners. Architect segment is expected to hold a largest market share. The use of BIM for architects helps to improve quality and boost the design processes. The design processes include modeling workflows, concept design, multidiscipline coordination, and construction documentation. The BIM software and services enable the architects to deliver interesting possibilities for future design.
Building Information Modelling Regional Insights
The BIM market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The BIM market is dominated by North America. Mandatory regulations imposed by the governments in the region to use BIM software for construction projects, especially projects related to public infrastructure, primarily boosted the market in North America. The presence of key players such as Autodesk, Trimble, Bentley systems and high focus on building advanced infrastructure facilities in the region are also expected to drive the BIM market in the coming years.
Europe accounts for the second-largest market share in the BIM market due to the growing construction sector and high demand for these software solutions by contractors, architects, and building owners in the region. The growing urbanization, including smart cities and green building concepts, is expected to fuel the market growth further. Moreover, most of the governments in the European countries have mandated the use of BIM for public projects, fueling the adoption of BIM software tools.
Asia-Pacific is expected to be a lucrative market in the BIM market due to a high focus on digitalization, increasing investments by government and real-estate sectors in the development of advanced infrastructure for residential, industrial, as well as commercial sectors, and increasing adoption of cloud platforms in the region. Also, the increasing adoption rate of technologies such as artificial intelligence, IoT, cloud computing, augmented reality, and virtual reality is expected to positively impact the BIM market in the coming years.
FIGURE 3: BUILDING INFORMATION MODELLING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Building Information Modelling (BIM) Key Market Players & Competitive Insights
The market for BIM Market has witnessed significant growth over the forecast period. There are several domestic, regional, and players operating in the Building Information Modelling market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Building Information Modelling market who have contributed to the market growth. These include Autodesk Inc., Hexagon AB, Trimble Inc., Dassault Systèmes, Nemetschek SE, Bentley Systems, Aveva, RIB Software, Archidata, Asite, Procore Technologies, Arcadiasoft, ACCA Software, Beck Technology.
Key Companies in the Building Information Modelling market include
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Nemetschek SE
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Bentley Systems
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Dassault Systemes SA
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Aveva Group PLC
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Rib Software SE
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Archidata Inc.
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Asite.
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Procore Technologies, Inc.
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Arcadiasoft
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Acca Software
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Beck Technology Ltd
Building Information Modelling Industry Developments
Building information modeling technology will see the release of a new product from OpenSpace in 2023, which will be used in the industry to solve problems quickly. Following the introduction of its most recent partnership with Revizto, OpenSpace, a leader in 360-degree reality capture and AI-powered analytics, has announced the launch of OpenSpace BIM+. By enabling BIM coordination on site, OpenSpace BIM+ is a set of simple-to-use 3D tools that assist field teams and virtual design and construction (VDC) teams in finishing their work more quickly. The company's third product, which leverages cutting-edge technology to enable project teams to address problems more quickly, was announced today.
2023: BIMcollab, a Dutch company, is well-known for its BIM issue management platform. The business said it "transforms" its service from a BIM issue management platform into "an ecosystem in which its enhanced online BIM coordination solutions are extended with a proven Digital Twin platform" with the announcement of two new features late last month. More precisely, they have launched a brand-new BIMcollab Twin product and expanded into BIMcollab Nexus, a comprehensive online BIM coordination platform.
A specialized plug-in for CEMEX's Building Information Modeling (BIM) REVIT software, which is used to design and oversee building projects, was released in 2023. Using this tool, engineers and architects may determine which Cemex products and solutions are most appropriate for their projects, emphasizing the more inventive and environmentally friendly options. For architects, engineers, contractors, or other construction professionals involved in the development of residential, commercial, industrial, or infrastructure projects, Cemex offers BIM software that has been properly created.
Building Information Modelling (BIM) Market Segmentation
Building Information Modelling (BIM) Component Outlook
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BIM Software
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Designing Software
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Cost Estimating & Scheduling
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Construction Management
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Operation and Maintenance
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Others
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BIM Services
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Professional Services
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Managed Services
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Building Information Modelling (BIM) Project Lifecycle Outlook
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Pre-construction
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Conceptual Stage
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Design Stage
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Pre-Construction Stage
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Construction
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Operation
Building Information Modelling (BIM) Deployment Model Outlook
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On-premise
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On-cloud
Building Information Modelling (BIM) End User Outlook
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Government
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Architect
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Engineering
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Contractors
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Facility Managers
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Maintenance Technicians
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Academic
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Others
Building Information Modelling (BIM) Regional Outlook
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North America
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US
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Canada
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Mexico
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Europe
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Germany
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France
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UK
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Rest of Asia-Pacific
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Middle East & Africa
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South America
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