Building Information Modeling Market Analysis | 2021-2026

Market Insights

"The global building information modeling market is projected to grow from USD 5.4 billion in 2020 to USD 10.4 billion by 2026 at a CAGR of over 11.8% during the forecast period of 2021-2026."

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What is building information modeling?

Building information modeling (BIM) is a type of software used for effective project life cycle management by real estate companies, construction firms, and architecture, engineering, and construction (AEC) professionals. The primary goal of building information modeling software is to improve project performance and produce better results.

BIM enables construction managers to more effectively gather data and information from relevant disciplines and communicate. BIM users benefit from improved data communication and coordination among various stakeholders, as well as increased construction productivity.

Key Players

The key players operating in the building information modeling market are:

• Autodesk (US)
• Nemetschek (Germany)
• Bentley Systems (US)
• Trimble (US)
• Dassault Systèmes (France)
• RIB Software (Germany)
• ASITE (UK)
• AVEVA (UK)
• Hexagon (Sweden).

Market Dynamics

The growth of the building information modeling market is primarily driven by:

• Expanding due to the fact that improved data communication and coordination among various stakeholders, combined with increased construction productivity, gives BIM users a competitive advantage.
• Furthermore, the rise in government mandates for BIM usage around the world, as well as the expansion of the construction industry.
• The high cost of software and the scarcity of trained professionals.
• On the contrary, technological advancements in data management at remote servers and improved inter-user coordination via cloud-based solutions.

COVID-19 Impact

The COVID-19 pandemic has radically altered people's daily lives, workplaces, and the surrounding environment. According to the market forecast for building information modeling, the current estimate for 2027 is expected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has had little impact on the growth of the BIM market because the COVID-19 lockdown enabled widespread adoption of BIM. The pandemic has compelled the development of safer and more efficient methods of constructing offices and homes.

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Segment Analysis

Deployment Mode Trends

"The on-premise segment accounted for the largest market share."

The market has been classified into on-premise and cloud. The On-premise segment accounted for the largest market. The rise in concerns about the security of data associated with construction projects, which is extremely valuable, is attributed to the segment's growth.

Regional Trends

"North America accounted for the largest market share."

The market in North America accounted for the largest market share in 2020. This region was an early adopter of advanced BIM technology, which is a newly developed innovative design and construction approach. This technique has made inroads into the mainstream North American construction industry. This region is home to a number of experts who use BIM in their projects. Contractors, engineers, and architects are increasingly using BIM, and the number is growing rapidly. They use the BIM process to improve project efficiency during the design and construction phases, as well as to reduce project-related errors and achieve a high return on investment.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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