Market Research Future (MRFR)’s analysis projects that the global Building Information Modelling (BIM) market is set to mark a CAGR of 14.9% during the forecast period of 2018 to 2023. The market is prognosticated to grow from USD 3065.5 Mn in 2017 to USD 8123.5 Mn by 2023-end.
The growth of the market is backed by the mandates enforced by the governments for the promotion and adoption of BIM. Furthermore, the implementation of BIM platform enhances the operational efficiency of the construction and reduces operational overheads. This, in turn, is further expected to favor the proliferation of the global Building Information Modelling (BIM) Market.
The technological advancements in the market such as the use of advanced 3D laser scanning are poised to open new avenues for growth opportunities over the next couple of years. Additionally, the ongoing trend of the adoption of cloud technology has revolutionized the Building Information Modelling (BIM) Market, and the trend is supposed to continue in the foreseeable future. However, high costs of setup are anticipated to restrict the market growth.
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Some of the key players profiled in the report are Hexagon AB, Aveva Group Plc, Autodesk Inc., Dassault Systèmes, Nemetschek SE, Trimble Inc., Asite Limited, Bentley Systems, RIB Software SE, and Archidata Inc.
- By project lifecycle, the Building Information Modelling (BIM) market has been segmented into pre-construction, construction, and operation.
- By end-user, the global Building Information Modelling (BIM) market has been segmented into government, engineers, and architects.
- By industry, the Building Information Modelling (BIM) market has been segmented into residential, commercial, healthcare, entertainment, sports, industrial, oil & gas industries, and others.
The global Building Information Modelling (BIM) market, by region, has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to retain the maximum market share during the forecast period striking a CAGR of 11.2%. The region is a pioneer in technological advancements and is quick in adopting novel technologies. These factors are expected to augment the Building Information Modelling (BIM) market in the region. Additionally, increasing commercial as well as residential construction projects coupled with strong economic growth rate of the region are further expected to expedite the proliferation of the Building Information Modelling (BIM) market over the assessment period.
Asia Pacific is estimated to mark the highest CAGR in the foreseeable future. The boom witnessed in the AEC industry, especially in fast-developing economies such as China and India, is likely to boost the Building Information Modelling (BIM) market in the forthcoming years. Furthermore, the initiatives undertaken by the governments for the introduction of smart cities is another major factor responsible for catalyzing the growth of the market during the forecast period. Meanwhile, the Middle East & Africa is an important growth pocket as the international players have recognized the untapped potential of the region. It is expected to exhibit substantial growth across the review period.
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In October 2018, German bathroom brand, Kaldewei, has adopted Building Information Modelling (BIM) for providing its private customers and industry clients with digital models of its products.
In October 2018, Hexagon AB, a global leader in digital solutions, has announced the acquisition of a fast-growing developer of CAD (computer-aided design) software, Bricsys. The acquisition is aimed at providing construction technology solutions.
In October 2018, Brisbane-based architecture firm Cottee Parker Architects has leveraged its BIM to keep the construction of the Mercedes-Benz flagship, AutoHaus, on schedule.
In November 2018, Oslo-based Building Information Modelling (BIM) startup, Imerso, has raised USD 2 Mn from Vito ONE and NewMark Capital along with the participation from existing investors 500 Startups and TRK Group
- Software developers
- Government Agencies
- Constructing Service providers
- Construction Companies
- Research Institutes & Universities
Table of Contents
1. Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure:
1.3.1 Global Building Information Modelling Market: By Product
1.3.2 Global Building Information Modelling Market: By End User
1.3.3 Global Building Information Modelling Market: By Industry
1.3.5 Global Building Information Modelling Market: By Region
List f Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Product Offering
Table 4 Global Building Information Modelling Market, By Product, 2017-2023 (Usd Million)
Table 5 Global Building Information Modelling Market, By Project Lifecycle, 2017-2023 (Usd Million)
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List of Figures
Figure 1 Global Building Information Modelling Market: Market Structure
Figure 2 North America Market Size & Market Share by Country (2017 Vs 2023)
Figure 3 Europe Market Size & Market Share by Country (2017 Vs 2023)
Figure 4 Asia-Pacific & Market Share by Country (2017 Vs 2023)
Figure 5 Rest of The World Market Size & Market Share By Country (2017 Vs 2023)
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