Building Information Modeling Market by Offering (Software, Services), Deployment Type (On-Premises), Project lifecycle (Pre construction), End User (AEC Professionals), Application (Planning & Modelling) and Region - Global Forecast to 2029
The Building Information Modeling Market is projected to reach from USD 8.0 billion in 2024 to USD 14.8 billion by 2029; it is expected to grow at a CAGR of 13.1% from 2024 to 2029. Using BIM software provides organizations with increased project control and the ability to customize workflows according to specific project needs and requirements. BIM software automates a variety of tasks including clash detection, quantity takeoffs, and construction scheduling, thereby enhancing productivity and efficiency across the entire project lifecycle.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Billion)
Segments
By Offering, Deployment Type, Project lifecycle, End User, Application and Region
Regions covered
North America, Europe, APAC, RoW
Key players operating in the building information modeling market are Autodesk Inc. (US), Nemetschek Group (Germany), Bentley Systems, Incorporated (US), Trimble Inc. (US), Dassault Systemes (France).
"The cloud deployment type is projected to grow at the highest CAGR during the forecast period."
Cloud-based BIM solutions enable seamless integration with various other cloud-based technologies and services, such as project management tools, data analytics platforms, and IoT devices. This interoperability significantly enhances the overall capabilities and efficiency of BIM workflows, allowing stakeholders to leverage a diverse range of tools and data sources within a unified environment.
"The AEC professionals segment is projected to have the highest growth during the forecast period."
The AEC Professionals segment expected to exhibit highest CAGR during the forecast period. Consultants and facility managers also contribute significantly to this growth. Facility managers and consultants play crucial roles in the ongoing operations and maintenance of buildings and infrastructure. BIM supports them by aiding in design, commissioning assessments, and extracting asset data throughout the entire lifecycle of these structures. AEC professionals engage in diverse tasks, and without effective communication, errors and misunderstandings can arise. BIM addresses these challenges by enabling collaborative work processes and information sharing among stakeholders. This collaborative approach facilitates reliable decision-making across the lifecycle of buildings and infrastructure projects.
"Asia Pacific region is likely to register highest CAGR."
The Asia Pacific region, particularly countries such as China and India, is experiencing rapid urbanization and significant infrastructure development. This growth is spurring demand for efficient construction tools such as Building Information Modeling (BIM). Governments in the region are making substantial investments in smart city initiatives, public transportation systems, and other large-scale infrastructure projects, which are driving the adoption of BIM software. Increasingly, these governments are mandating or promoting the use of BIM in construction projects, which serves as a significant catalyst for market expansion. Furthermore, the integration of BIM with emerging technologies like Artificial Intelligence (AI), Virtual Reality (VR), and Internet of Things (IoT) is further propelling market growth in the region.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type - Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
By Region-North America - 40%, Europe - 30%, Asia Pacific - 20%, RoW - 10%
The building information modeling market is dominated by a few globally established players such as Autodesk Inc. (US), Nemetschek Group (Germany), Bentley Systems, Incorporated (US), Trimble Inc. (US), Dassault Systemes (France), Schneider Electric (France), Asite (UK), Procore Technologies, Inc. (US), Hexagon AB (Sweden), Archidata Inc. (Canada). The study includes an in-depth competitive analysis of these key players in the building information modeling market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the building information modeling market and forecasts its size by offering type, deployment type, application, vertical, end user, project lifecycle, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the building information modeling ecosystem.
Key Benefits to Buy the Report:
Analysis of Key Drivers (Enables building management systems and facility management systems, Promotes sustainability through low carbon emissions during construction, Rapid urbanization globally, Government initiatives promoting use of BIM). Restraints (High initial cost of BIM). Opportunities (Integration of VR and AR technologies with BIM solutions, Focus of stakeholders in construction industry on improving safety, Rising trend of IoT in construction sector, Increasing adoption of BIM Automation) and Challenges (Complying with BIM standards across multiple geographies, Low level of digitalization in construction industry).
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the building information modeling market.
Market Development: Comprehensive information about lucrative markets - the report analyses the building information modeling market across varied regions.
Market Diversification: Exhaustive information about new solutions, untapped geographies, recent developments, and investments in the building information modeling market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Autodesk Inc. (US), Nemetschek Group (Germany), Bentley Systems, Incorporated (US), Trimble Inc. (US), Dassault Systemes (France) among others in the building information modeling market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 IMPACT OF RECESSION ON BUILDING INFORMATION MODELING MARKET
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 Key secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Major primary interview participants
2.1.3.2 Breakdown of primaries
2.1.3.3 Key data from primary sources
2.1.3.4 Key industry insights
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to obtain market size using bottom-up analysis (demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to obtain market size using top-down analysis (supply side)
2.3 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.4.1 RECESSION IMPACT ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.5.1 GROWTH PROJECTION- AND FORECAST-RELATED ASSUMPTIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN BUILDING INFORMATION MODELING MARKET
4.2 BUILDING INFORMATION MODELING MARKET, BY OFFERING TYPE
4.3 BUILDING INFORMATION MODELING MARKET, BY PROJECT LIFECYCLE
4.4 BUILDING INFORMATION MODELING MARKET, BY DEPLOYMENT TYPE
4.5 BUILDING INFORMATION MODELING MARKET, BY END USER AND VERTICAL
4.6 BUILDING INFORMATION MODELING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Need for better building management systems and facility management systems
5.2.1.2 Sustainability promoted through low carbon emissions during construction
5.2.1.3 Rapid urbanization globally
5.2.1.4 Government initiatives promoting use of BIM
5.2.2 RESTRAINTS
5.2.2.1 High initial cost of BIM
5.2.3 OPPORTUNITIES
5.2.3.1 Integration of VR and AR technologies with BIM solutions
5.2.3.2 Focus of stakeholders in construction industry on improving safety
5.2.3.3 Rise in trend of IoT in construction sector
5.2.3.4 Increase in adoption of BIM Automation
5.2.4 CHALLENGES
5.2.4.1 Complying with BIM standards across multiple geographies
5.2.4.2 Low level of digitalization in construction industry