Building Information Modeling (BIM) Market Size, Growth Analysis, Share, Demand, Types, Top Key Players And Forecast To 2025
Building Information Modeling Market is valued at USD 3.53 Billion in 2018 and expected to reach USD 11.51 Billion by 2025 with a CAGR of 15.9% over the forecast period.
Growing digitization in building sector, increase in IT investments and growing government acceptance of BIM leading to a huge need of Building Information Modeling (BIM).
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Scope of Global Building information modeling Market Report–
The global building information model (BIM) is a process followed by different technologies as well as tools. The model gives deep analysis of the BIM market by value and segments. Building information model is a file which can be interchanged, extracted and networked to give support to decision making related built assets. The model represents a structure as the combination of objects-vague and non-defined product-specific, generic, solid shape oriented which carries the geometry, attributes and relations. It is a software technology that provides 3D, 4D, 5D virtual view of a building before its construction. The major advantage of this model is that it can be ingress by number of users from various locations on one same document. Conventional infrastructural design is majorly depend on 2D technical drawings and further extends it beyond 3D, augmenting three spatial dimensions with time the 4D and cost is referred as 5D. The BIM model covers geographical information, contiguous relationships, light analysis, quantities and properties of infrastructural components.
Some major key players for global Building information modeling Market are,
Autodesk Inc., Bentley systems Inc., AECOM, GRAITEC, Pentagon solutions Ltd., Tekla Corporation, Beck Technology Ltd., Dassault systems, others.
The regions covered in this Global Building information modeling Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Global Building information modeling is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Market Dynamics –
The market has shown a lucrative growth in past few years and is anticipating to grow notably owing to the increase in outlay and investment in the building industry, growing digitization in building sector, increase in IT investments and growing government acceptance of BIM by various countries. BIM is a 3D model based process engineering, architecture, and construction professionals perception for more efficient planning, designing, constructing and managing infrastructure and can be accessible from mobile, PCs, smartphones. Coordination between various stakeholders, improved communications through data, high construction productivity and obligatory initiatives taken by the government in the support of BIM for various developed countries. Also, optimization in project performance, increasing productivity, enhanced communication, coordination in the asset lifecycle management process are the major factors which supplementing market growth. Construction activities such as planning, designing, building and, management are the major tools who facilitate to save time, money, and to simplify the try for development of a standardized BIM model.
By Solution: Software, services
By End Users: contractors, engineers, developers, architect, others
The global building information modeling market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). North America and Europe are anticipated to account for the largest market size and share in the near future of the global market. This is because of the growing population which is raising the demand in residential sector and different governments are giving inducements for the growth of the huge, well developed and established BIM market. Also, the contractors in these regions are aware of the benefits of this model. In US the model is specially used for the Government projects. In Canada the BIM model is used to construct smart Canada. Asia-Pacific region is anticipated to capture the significant share in this market owing to the increment in the market is elevated for the construction industries in the countries like china and India. Smart-cities is the Government aided scheme who plans to develop 100 cities with renovated infrastructure in the country. Moreover, China is handling different and new infrastructure projects and within next 10 years China is planning to move around 250 million crowed into country’s growing metro cities heading in the demand for commercial and residential infrastructure.
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