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New York, United States , May 04, 2023 (GLOBE NEWSWIRE) — The Global Building Information Modeling Market Size is to grow from USD 6.57 Billion in 2022 to USD 21.15 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.
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Building Information Modeling (BIM) is a cutting-edge technology that revolutionizes the way construction projects are designed, constructed, and operated. BIM is a digital representation of the physical and functional characteristics of a building, integrating all relevant data and information in a collaborative and coordinated manner. BIM allows for efficient management and coordination of construction projects, reducing errors, improving communication, and increasing productivity. Through the use of 3D modeling, BIM enables stakeholders to visualize and analyze the building’s performance, optimize design decisions, and simulate construction processes. BIM also facilitates interoperability among different disciplines, such as architecture, engineering, and construction, enhancing coordination and collaboration. Overall, BIM is transforming the construction industry, delivering improved efficiency, accuracy, and sustainability in the design, construction, and operation of buildings.
“Major Key Players: Autodesk Inc., Bentley Systems, Inc., Trimble Inc., Nemetschek SE, Dassault Systèmes SE, Hexagon AB, PlanGrid Inc., Procore Technologies Inc., Asite Ltd., AVEVA Group plc, Graphisoft SE, Bluebeam Inc., Newforma LLC, Viewpoint Inc., Archidata Inc., RIB Software SE, Innovaya LLC, Thinkproject AG and among others”.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on “Global Building Information Modeling Market Size, Share, and COVID-19 Impact Analysis, By Deployment Type (On-Premises Deployment and Cloud Deployment), By Application (Industrial, Civil Infrastructure, Oil & Gas, Utilities, and Others), By Offering (Software and Services), By End-Use (AEC Professionals, Consultants & Facility Managers, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032″. Get Detailed Report Description Here:
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The cloud deployment segment is expected to grow at a CAGR of 13.7% over the forecast period.
Cloud deployment is the fastest-growing segment in the Building Information Modeling (BIM) market. It refers to BIM software that is hosted and operated on remote servers, accessible over the internet, and provided as a subscription-based service. Cloud-based BIM solutions offer several advantages, including scalability, flexibility, and accessibility from anywhere, which are driving their increasing adoption in the AEC industry. Cloud deployment eliminates the need for on-premises infrastructure and software maintenance, reducing upfront costs and providing faster updates and upgrades. Moreover, cloud-based BIM enables real-time collaboration, data sharing, and remote access, which are critical for modern construction projects. As a result, the cloud deployment segment is experiencing rapid growth in the BIM market, with increasing demand from AEC professionals for its benefits in terms of efficiency, collaboration, and cost-effectiveness.
The software segment dominated the market with around 65.4% revenue share in 2022.
Based on the offering type, the global building information modeling market is segmented into software and services. The software category accounted for the largest share, approximately xx%, in the building information modeling market in 2022. BIM software refers to the digital tools and technologies that enable the creation, visualization, and management of 3D models and associated data for building projects. BIM software offers a wide range of functionalities, including design, analysis, simulation, collaboration, and project management, which are essential for AEC professionals in various stages of a building project. BIM software is often the core component of BIM implementation, and it is widely used by architects, engineers, contractors, and other stakeholders in the construction industry.
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Asia-Pacific is predicted to grow at a higher CAGR of around 14.1% over the forecast period.
The Asia-Pacific region is currently the fastest-growing market in the Building Information Modeling (BIM) industry. The region is experiencing rapid urbanization and infrastructure development, leading to a surge in demand for construction projects and driving the adoption of BIM for efficient project management and coordination. Moreover, there is a growing emphasis on sustainable and green building practices in the Asia-Pacific region, which encourages the use of BIM for energy-efficient design and construction. Advancements in technology, increasing awareness about the benefits of BIM, and favorable government initiatives are further propelling its adoption in the region.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global building information modeling market include Autodesk Inc., Bentley Systems, Inc., Trimble Inc., Nemetschek SE, Dassault Systèmes SE, Hexagon AB, PlanGrid Inc., Procore Technologies Inc., Asite Ltd., AVEVA Group plc, Graphisoft SE, Bluebeam Inc., Newforma LLC, Viewpoint Inc., Archidata Inc., RIB Software SE, Innovaya LLC, and Thinkproject AG.
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