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    Building Information Modeling (bim) Market Forecast | 2021-2026

    Building Information Modeling (bim) Market Forecast | 2021-2026
    Report code - SR1879 Delivery - 2 Weeks
    Building information modeling (bim) Market Size, Share, Trend, Growth, Forecast, & See more...

    Market Insights

    The Building information modeling (bim) 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 modelling (BIM)?

    Building information modelling (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 modelling 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.

    Building Information Modeling (BIM) Market Features

    Market Size in 2020

    US$ 5.4 Bn

    Market Size in 2026

    US$ 10.4 Bn

    Market Growth (2021-2026)

    CAGR of 11.8%

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Segment Covered

    By Application Type (Planning & Modelling, Construction & Design, Asset Management, Building System Analysis & Maintenance Scheduling, Others), 

    By Component Type (Solution, Services),

    By Deployment Mode Type (On-premise, Cloud), By End-use Type (Architects/Engineers, Contractors, Others),

    By Region.

    Dominant Region

    North America accounted for the largest market share in 2020.

    Key Players

    The key players operating in the Building information modeling (bim) 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 modelling 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 a scarcity of trained professionals.
    • On the contrary, technological advancements in data management at remote servers and improved inter-user coordination via cloud-based solutions.

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    Segment Analysis

    Deployment Mode Trends

    The market has been classified into On-premise, 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

    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.

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    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.

    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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    Report – Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    >12

    No. of Figures & Tables

    >160

    Company Profiles

    9

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    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.

    Target Audience

    The target audience of building information modeling (bim) market includes-

    • Building information modeling (bim) companies
    • Building information modeling (bim) distributors
    • Government organizations

    COVID-19 Impact on BIM Market

    The COVID-19 pandemic has radically altered people's daily lives, workplaces, and the surrounding environment. According to the market forecast for building information modelling, 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.

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    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

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The 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.

    The key players operating in the market are Autodesk (US), Nemetschek (Germany), Bentley Systems (US), Trimble (US), Dassault Systmes (France), RIB Software (Germany), ASITE (UK), AVEVA (UK), and Hexagon (Sweden).

    The target audience of market includes Building information modeling (bim) companies, Building information modeling (bim) distributors, Government organizations.

    The market is 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, drive market growth.