BIM Market is Growing Due to the Increasing Digitalization in Construction Sector

Building Information Modelling Market Analysis

The global BIM market will touch USD 25.61 billion at a 14.9% CAGR by 2030, as per the current Market Research Future report.

BIM Market Drivers

Increasing Digitalization in Construction Sector to Boost Market Growth

The utilization of technologies, sole source of truth, digital collaboration, the future-proof designs, & building are some of the aspects that are driving digitalization in the construction industry. BIM software offers each of these elements, leading to a better adoption rate. If a building for instance is designed using BIM software and the information about it is recorded in the BIM model, this data may be shared via the cloud by all the stakeholders. To prevent errors during the real building process, the building is initially constructed digitally. Low productivity within the industry is a concern that is addressed by digital construction. By employing BIM systems, this makes it possible for processes to be integrated across the whole lifecycle. Hence, as the construction sector becomes more digital, BIM software use increases, which in turn propel the BIM market growth.

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Building Information Modelling (BIM) Market Report Scope:

BIM Market Opportunities

Preference over Competing Technologies to offer Robust Opportunities

Due to its many advantages over rival technologies such as paper-based design, modeling software, and CAD systems, building information modeling (BIM) has gained appeal as well. The main benefit of BIM is that it allows users to create a precise, exact, geometric virtual model of the entire building, including all of its structures and components.

Restraints and Challenges

Implementation Issues to act as Market Restraint

Implementation issues, dearth of trained professionals, and high-cost of software may act as market restraints over the forecast period.

BIM Market Segmentation

The building information modeling market is bifurcated based on component, project lifecycle, deployment model, and end user.

By component, BIM software will lead the market over the forecast period.

By project lifecycle, pre-construction will dominate the market over the forecast period.

By deployment model, on-premise will spearhead the market over the forecast period.

By end user, architect will have the lions share in the market in the forecast period.

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COVID-19 Analysis

Lockdowns had been enacted by governments all across the world to contain the coronavirus’s effects. These have led to a labor and raw material scarcity, which has impacted the contractors’ ongoing construction projects. The supply chain has also been disrupted, which has prevented contractors from fulfilling their commitments under contracts. Also, there were considerable disruptions in the import and export of materials and equipment in the building and engineering sector. Contractors from all over the world claimed that COVID-19 had caused project delays. Other reasons for project site closures besides those imposed by the government include delays in the delivery of supplies and equipment, the need to find new employees, project owners cancelling or rescheduling their plans, and difficulties obtaining the required permits and inspections due to the shrinking availability of government offices, which has an effect on the BIM market.

Regional Analysis of Building Information Modelling Industry

North America to Head BIM Market

North America dominates the BIM market. The market in North America has been principally supported by mandatory laws established by the governments in the region to utilize BIM software for the construction projects, notably projects linked to public infrastructure. In the upcoming years, the BIM market is anticipated to be driven by the presence of major players like Autodesk, Trimble, and Bentley Systems as well as a strong focus on developing modern infrastructure facilities within the area. Due to continual technological developments in the products offered by market participants, favorable government legislation, rising environmental awareness, and a booming real estate sector, North America currently holds a disproportionately large share of the global BIM market. These firms are having trouble integrating multiple services during the planning, designing, and construction phases due to the surge in real estate prices in the healthcare, retail, entertainment, & industrial sectors.

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BIM Market Key Players

Eminent industry players profiled in the BIM market report include:

1. Autodesk Inc.
2. Hexagon AB
3. Trimble Inc.
4. Dassault Systemes SA
5. Nemetschek SE
6. Bentley Systems
7. Aveva Group PLC
8. Rib Software SE
9. Archidata Inc.,
10. Asite
11. Procore Technologies, Inc.
12. Arcadiasoft, Acca Software
13. Beck Technology Ltd

Industry Updates

February 2023- Data integration for SE & BIM techniques has lately been assisted by Semmtech for Besix.

Related Reports:

BIM software market

https://www.marketresearchfuture.com/reports/bim-software-market-8764

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