Building Information Modeling Market Size & Share, by Building Type (Residential, Public Infrastructure, Commercial); Project Phase (Pre-Construction, Construction, Operation); Application (Planning & Modelling, Construction Designing, Asset Management, Interior Analysis); End-user (Architects, Engineers, Builders & Contractors, Construction Managers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3219
  • Published Date: Apr 24, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Building Information Modeling market size is anticipated to surpass USD 23.9 Billion by the end of 2035 by growing at a CAGR of 14% over the forecast period, i.e., 2023-2035. In the year 2022, the industry size of Building Information Modeling was over USD 6.1 Billion. The growth of the market can be attributed to the rising technological advancement and innovations in cities. Furthermore, with rising real-estate expenditures, nations are witnessing a surge in the construction of diverse business structures, corporate and communal structures, and private facilities. This raises the demand for effective operation handling systems.

The market is predicted to rise due to the increased construction of residences and commercial buildings. Several public and private builders are deploying the software with government backing to improve operational effectiveness. For instance, Michigan contractor Barton Malow worked with Trimble Inc. to increase construction efficiency by 2024. By implementing the software, the corporation strives to accomplish daily workflow, operational security, efficiency, and reliability.


Building Information Modeling Market
Get more information on this report: Request Free Sample PDF

Building Information Modeling Sector: Growth Drivers and Challenges

Growth Drivers

 

  • The increasing requirement for software in the architectural and construction sectors - The demand for software in the architectural and construction industries is increasing dramatically. The system assists the builder and owner in lowering total costs throughout the operational process. This is motivating the government to support the use of building information modeling technologies. Implementing such innovative technology can provide the country with a solid infrastructure basis. As a result, governments in a variety of countries are leveraging technology to achieve more efficient results. For instance, In 2016, the government advocated the formation of a smart infrastructure task group to successfully adopt BIM on all public projects exceeding $50 million, with the BIM industry in Australia estimated to expand to $6.5 billion by 2020.
  • Rapid urbanization is anticipated to drive BIM market expansion- Many people migrate to metropolitan cities around the world as technology advances and economies improve. The demand for residential construction is also increasing in cities. Furthermore, with rising real-estate Spending nations are witnessing an increase in the construction of diverse business structures, governmental and public buildings, and individual properties. This increases the demand for effective handling models. According to a report provided by the United States Census Bureau on the building sector, private and public investment in construction increased in 2019. The Federal Aviation Administration of the United States has allocated USD 840 million to the airport facilities of the "Next Generation of Air Transportation System."
  • The rise in demand for residential real estate as a result of population expansion -The need for residential real estate has increased as an outcome of the population's rapid growth, and governments all over the world are providing incentives for the development of this industry. A fresh opportunity for BIM expansion is being created by businesses embracing BIM to expedite their residence building design processes. For instance, the world population has increased from 2.5 billion to greater than 7.7 billion people since 1950. However, by 2050, that figure is expected to fall to 9.7 billion.
  • Governmental mandates to promote the adoption of BIM- Governmental obligations to promote the use of BIM in key international markets are expected to lead to rapid growth. The German government also recently created the German Centre for Digitization of the Building Industry in July of this year, which intends to encourage BIM standardization, offer skills development, and offer consulting and assistance for BIM projects, alike to the BIM4INFRA2020 Project.

 

Challenges

 

  • High initial costs are likely to stymie market growth- BIM software assists developers and users in predicting and lowering building operational costs. Nevertheless, the initial expense of implementing this scheme is significant. To give efficient results, technologically complex software requires a sufficient network, which adds to the total cost of high-network services. In addition, the ongoing care and maintenance required for the program raise the cost.
  • The lack of knowledge in dealing with complex software
  • Limitation of qualified workers to the market

Building Information Modeling Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~11%

Base Year Market Size (2022)

~ USD 6.1 Billion

Forecast Year Market Size (2035)

~ USD 23.9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Building Information Modeling Segmentation

Building Type (Residential, Public Infrastructure, Commercial)

The global building information modeling market is segmented and analyzed for demand and supply by building type into Residential, Public Infrastructure, Commercial, and Others. Out of all building types, the commercial segment is anticipated to hold the largest market size during the forecast period. Commercial enterprises have been one of the most prominent BIM application bases. Predicting and analytics technical advancements, as well as improved consumer awareness, are expected to be the key growth drivers in this market. BIM software is widely used in the development of smart cities and smart offices throughout the globe. While each region builds for the future, smart towns and smart buildings gain traction, growing reliance on BIM software for improved productivity. With rising construction activity around the world, the commercial segment is likely to expand during the forecast time frame. As of 2023, there are 63,053 Commercial Building Construction enterprises in the United States.

End-user (Architects, Engineers, Builders & Contractors, Construction Managers)

The global building information modeling market is also segmented and analyzed for demand and supply by end-user into Architects, Engineers, Builders & Contractors, Construction Managers, and Others. Amongst the two segments, the modified builders & contractors segment is expected to garner significant market revenue over the forecast period. The builders and contractors segment is predicted to increase rapidly during the projection period, as the software assists in lowering building costs through real-time information. Builders can improve the project's execution by gathering information ahead of time. Builders and contractors are interested in cutting-edge technologies that can improve the quality of construction. These factors are expected to fuel the segment's growth over the upcoming decades.

Our in-depth analysis of the global market includes the following segments:

      By Building Type

  • Residential
  • Public Infrastructure
  • Commercial
  • Others

      By Project Phase

  • Pre-Construction
  • Construction
  • Operation

      By Application

  • Planning & Modelling
  • Construction Designing
  • Asset Management
  • Interior Analysis
  • Others

      By End-User

  • Architects
  • Engineers
  • Builders & Contractors
  • Construction Managers
  • Others
 

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Building Information Modeling Industry - Regional Synopsis

North American Market Forecast

The market in the North American region is estimated to garner the largest share over the forecast period on the back of the introduction of advanced digital technology in the infrastructure domain. Over USD 9 billion is spent on public residential construction in the U.S., as of 2020. Engineers and architects in the countries, such as Canada and US are increasingly adopting building information modeling, which is further projected to drive market growth. Moreover, Major BIM vendors are based in this region, and BIM is frequently integrated with other trends such as geographic information systems. Katerra, a California-based startup, has built a combined platform that seamlessly links BIM tools and computational modeling to its ERP worldwide logistics infrastructure to facilitate the ordering, manufacture, tracking, and transportation of goods easier.

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness the highest CAGR over the forecast period, owing to the increasing construction activities in the developing nations, including, India, China, Singapore, Indonesia, and Vietnam. Infrastructural development of the tier 2 cities is another major growth driver for the APAC market. China is predicted to dominate the region due to the country's enormous infrastructure developments. The nation is considering three large-scale construction projects that will make use of BIM software, including the Shanghai Tower, the Beijing Phoenix Media Centre, and the Shanghai Disneyland Resort. This is anticipated to fuel expansion in the market in Asia Pacific.

Europe Market Forecast

After Asia Pacific, Europe is expected to remain a dominating market during the forecast time frame. The requirement for BIM solutions is largely determined by the level of development in a region, and in the United Kingdom, it has rebounded dramatically during the economic downturn to emerge as one of the primary sectors of the economy. The United Kingdom was an early adopter of BIM solutions, with the General Services Administration adopting a number of proactive efforts to encourage the use of BIM systems. Government rules and regulations for the implementation of BIM solutions in the development of public and private infrastructure in many nations in this area promote the growth of the BIM industry.

Research Nester
Building Information Modeling Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Building Information Modeling Landscape

top-features-companies
    • Autodesk Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Hexagon AB
    • The ASITE Services
    • Trimble Inc.
    • Bentley Systems, Incorporated
    • Beck Technology, Ltd.
    • Pinnacle Infotech
    • Pentagon Solutions Ltd
    • Dassault Systemes S.E. (3DS)
    • NEMETSCHEK Group

In the News

Bentley Systems, Inc. declared new iTwin Platform capacities, drastically broadening the range and integration of infrastructure data that engineering companies and owner-operators can employ to build and implement digital twins in building, construction, and action processes. 

Autodesk Inc. unveiled the integration of Bridgit Bench's Workforce Management Features with Autodesk Cloud Construction. BIM 360 and Buildings Connected Implementation are powered by the construction cloud. This integration is projected to result in fewer double entries, fewer discrepancy erroneous, and improved handling of resources.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 3219
  • Published Date: Apr 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing urbanization worldwide and increasing implementation of digital technology in construction sector are the key factors driving market growth.

The market is anticipated to attain a 13% CAGR over the forecast period, i.e., 2023-2035.

High investment in the market is estimated to hamper market growth

The market in Asia Pacific region will provide ample growth opportunities owing to the growing urbanization of tier 1 and 2 cities in countries, such as, India and China.

The major players dominating the market are The ASITE Services, Trimble Inc., Bentley Systems, Incorporated, Beck Technology, Ltd., Pinnacle Infotech, Pentagon Solutions Ltd, Dassault Systemes S.E. (3DS), NEMETSCHEK Group and others.

The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by building type, project phase, application, end-user, and region.

The construction designing segment is expected to grow at the highest CAGR during the forecast period owing to the growing need for accurate and fast designs and eliminating human errors in the process.
Building Information Modeling Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying