BIM Software Market Emerging Technologies, Trends, Business Opportunities and Forecasts to 2027 | COVID-19 Effects

Building Information Modeling Software Industry Market Research Report: Information By Software Model (3D, 4D, 5D and Others), Applications (Buildings, Public Infrastructure, Industrial and Others), End-User (Architects and Engineer, Contractors and Others) and Region (North America, Asia-Pacific, Europe, Middle East & Africa and South America) – Forecast till 2027

Industry news

Major industry news in the sector relates to recent developments that set new market trends of growth. For example, in September 2019, Glodon Company Limited collaborated with Bill Solutions to develop and internalize China’s construction industry. This established new construction standards that increased the use of BIM software in the country. Moreover, in July 2019, IES LTD launched its building model and planning software under the latest version of virtual environment software.

Recent Developments 

1. The key players of the market are launching 3D BIM solutions. This development will tract more need users towards the market.
2. The key players are updating clod based BIM. This development will lead to effective market operations and storage.
3. The key player in establishing a new portfolio for the cloud market. This will boost the overall revenue of the market.

Market Highlights

The Building Information Modeling Software Industry deals with the sale, implementation, and marketing of Building Information Models. BIM is files that can be manipulated and transferred to support any decisions taken regarding a built asset. The BIM modules are used in construction by individual parties, government institutions, and business organizations. BIM files are used in the planning and construction of physical infrastructures like roadways and railways. The files are software-based that support several computer-aided design modules. These computer-aided design modules are put to use in architecture and designing of construction plans. The BIM software sector benefits from architecture and planning ventures.

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The Building Information Modeling Software Industry produces different solutions for architecture and construction-based companies. Architects and real estate construction companies prefer BIM software due to its many benefits. BIM is a cost-effective, optimized design solution that has multiple uses in architecture and planning. The use of BIM software helps in saving the architect’s time and is a high return investment. The BIM Software Market Size was valued at USD 2.82 billion for the last forecast period. In the future forecast period, the multibillion-dollar industry is all set for healthy growth. The CAGR for the BIM Software Market Forecast exceeds well beyond 10 percent. The BIM software market projects tremendous growth in the coming years.

As rapid urbanization and construction gain speed around the world, architects embrace the adoption of computer-aided design. BIM software increases the design efficiency of plans and helps the architect in understanding design elements deeply. As construction companies start planning mega, complex structures in both the domestic and public domain, the growth of the BIM software sector is secure. The development of public infrastructure worldwide and improvement in structural engineering are some significant drivers of the BIM software sector.

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Segmentation:

The Building Information Modeling Software Industry size divides into different segments based on industrial sub-criteria. The analysis of industrial segmentation is very necessary for an understanding of the sector landscape and trends. The BIM software market divides into different segments based on software models, applications, and end-users. By software models, the market divides into 3D, 4D, and 5D. On the other hand, by application, the market divides into the building, public infrastructure, and industrial. The major end-user segments are engineers, architects, and contractors.

Regional Analysis

The BIM Software Market divides into different regional markets based on revenue and application. The major regional markets of the BIM software market are Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. All the individual regional markets make significant contributions to BIM Software market revenue and profits. By BIM Software Market Share, the leading regional market is the North American one. The second-largest market share belongs to Europe. The leading markets have a high presence of key players and are dynamic marketplaces for BIM applications.

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