Building information modeling is expected to foresee significant growth. North America to lead the growth!

The building information modeling market is expected to register a CAGR of around 15% over the period of 2021-2027. Building information modeling simplifies manual processes as it assists in various ways like 3D visualization of building design which includes a plan, elevation, and section of the building. the demand for the building information modeling market would witness bright prospects due to the rapid urbanization, rising infrastructure activities, timely completion of construction activities, integration with lean management processes, successful management, and financial visibility.

Based on components, the market is bifurcated into software and services. The software segment is expected to dominate the market during the forecast period. The main reason for this growth is the global increase in the demand for digital products/tools in the AEC industry, software provides various functionalities like 3D CAD drawings with more flexibility.

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Based on the project phase, the market is categorized into preconstruction, construction, and post-construction. The pre-construction segment is expected to lead the market during the forecast period as BIM pre-construction helps in the laying of the entire operation scope, building project estimation, designing, and planning workflow.

Based on application, the market is segmented into commercial, residential, industrial, and public infrastructure. The commercial segment is expected to lead the market during the forecast period. The huge cost associated with constructing the commercial would boost the demand for an efficient digital collaboration tool. This is expected to increase the need for software in constructing commercial buildings.

Based on end-user, the market is bifurcated into architects & engineers, facility or construction managers, and builders and contractors. The architect and engineer segment is expected to dominate the market. The software helps the designers and builders to understand the possible future challenges of the projects in advance.

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For a better understanding of the market adoption of the building information modeling, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (U.K, France, Germany, Spain, Italy, and Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), and Rest of World. North America region grabbed the major market share and dominated the market in 2020. Moreover, the trend is expected to remain the same in the forthcoming years as well. The early adoption of advanced digital tools and the government’s mandate on implementing BIM software is likely to boost market growth. Also, this region has developed countries like the U.S. and Canada that have a larger budget for technological advancement.

However, APAC is expected to witness the highest CAGR during the forecast period on account of the growing adaptability of technology that facilitates construction. Emerging economies in the region are seeing tremendous urbanization growth and smart city projects. Thus, building information modeling technology enables the cutting-edge intelligence and flexibility necessary to help mega construction activities in the region.

Building Information Modeling Market segmentation

Market Insight, by Component

• Software
• Services

Market Insight, by Project Phase

• Pre-constructional
• Construction
• Post constructional

Market Insight, by Application

• Commercial
• Residential
• Industrial

Market insights, by End-use

• Architects and engineers
• Facility or construction managers
• Builders and contractors

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Autodesk Inc.
• Asite Solutions Limited
• AVEVA Group plc
• Beck Technology Ltd.
• Bentley Systems Inc.
• Dassault Systèmes SE
• Hexagon AB
• Nemetschek SE
• Pentagon Solutions Ltd.
• Trimble Inc.