Building Information Modeling Market Size, Share & Growth

Updated on : October 22, 2024

Building Information Modeling (BIM) Market Size

The Building Information Modeling Market size is projected to reach from USD 8.0 billion in 2024 to USD 14.8 billion by 2029; growing at a CAGR of 13.1% between 2024 to 2029.

The increasing demand for BIM software is driven by various factors, including heightened sustainability concerns, expanding construction activities, supportive government policies, and the need for improved collaboration. Additionally, opportunities in emerging markets, advancements in technology integration, and enhanced facility management are expected to further boost the adoption of BIM software.

Building Information Modeling Market Forecast to 2029

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Building Information Modeling Market Trends and Dynamics:

Driver: Enables building management systems and facility management systems

BIM's integration with Building Management Systems (BMS) and Facility Management Systems (FMS) enhances building operations and maintenance by improving efficiency and effectiveness. BIM offers comprehensive data on a building’s design, construction, and performance. This data can be integrated into the BMS to enable improved control and monitoring of building systems such as HVAC, lighting, and security. For FMS, BIM data assists in managing building assets like equipment, furniture, and fixtures. The detailed information from BIM, including asset locations, conditions, and maintenance histories, enables more effective asset management and planning. The integration of sensors within buildings has led to the development of intelligent buildings. These smart buildings not only monitor usage patterns but also detect issues such as pipe leaks, identifying moisture buildup before it can cause mold and health problems.

Restraint: High initial cost of BIM

Implementing BIM software, such as Autodesk Revit and ArchiCAD, involves significant expenses. The cost of licensing, whether through subscriptions or one-time payments, represents a substantial initial investment. Additionally, BIM software demands robust computing power, necessitating high-performance computers and potentially additional servers to manage data processing and storage. Consequently, upgrading existing hardware or acquiring new equipment incurs further costs.

Opportunity: Integration of VR and AR technologies with BIM solutions

Virtual Reality (VR) and Augmented Reality (AR) technologies significantly enhance the visualization of Building Information Modeling (BIM) models by allowing stakeholders to experience designs in immersive 3D environments. This capability improves the understanding of complex architectural and engineering designs, facilitating better communication and collaboration among clients, architects, and construction teams. By enabling interactive design reviews, project stakeholders can explore virtual models in real-time, which aids in receiving immediate feedback and making informed decisions during the design phase. Consequently, potential issues can be identified and addressed more effectively, improving design quality and reducing the likelihood of errors during construction. The modern technique of integrating VR with BIM is highly valuable. It primarily facilitates a thorough analysis of problems and the discussion of alternative solutions. Interacting with the BIM model to visualize the geometry of elements and consult parametric data enhances the collaborative project development process significantly.

Challenge: Complying with BIM standards across multiple geographies

While BIM endeavors to streamline real-time communication and model visualization among stakeholders, ensuring compliance with AEC (Architecture, Engineering, and Construction) and BIM standards presents a significant challenge. This challenge is compounded when multiple stakeholders are involved, each with their own set of compliance requirements. Effectively managing the complex landscape of AEC and BIM standards requires careful attention to detail and a comprehensive grasp of regulatory frameworks. Various regions and industries may impose specific standards, adding layers of complexity to compliance efforts. Additionally, the dynamic nature of these standards requires constant vigilance and adaptation to maintain compliance throughout the project lifecycle.

Building Information Modeling Market Ecosystem

The prominent players in the building information modeling market share are Autodesk Inc. (US), Nemetschek Group (Germany), Bentley Systems, Incorporated (US), Trimble Inc. (US), Dassault Systèmes (France). These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks.

Building Information Modeling Market Share Segmentation

Software offering type to account for the largest share of the building information modeling market in 2023.

Software solutions used for Building Information Modeling (BIM) are expected to capture largest market share during the forecast period. These solutions offer various features such as interoperability between applications, intuitive visualization capabilities, and cost-effectiveness. BIM software suites typically encompass tools tailored for different project objectives across the lifecycle, including architecture, sustainability, structural design, mechanical, electrical, and plumbing (MEP), construction management, and facility maintenance. 3D BIM software is increasingly adopted by architecture, engineering, and construction (AEC) professionals due to its ability to provide comprehensive 3D visualization of projects.

Pre construction project lifecycle to dominate building information modeling market during the forecast period.

Using BIM in the pre-construction phase ensures designs comply with local building codes and regulations, facilitating the permit approval process and reducing associated delays. Additionally, BIM helps identify and resolve clashes between different building systems (such as structural, mechanical, electrical, and plumbing) early in the design process. This early detection minimizes the risk of costly rework and construction delays.

On-premises deployment type to register the largest share building information modeling market during the forecast period.

The on-premise segment is expected to witness the largest share during the forecast period. Larger firms in the AEC industry, such as Autodesk and Nemetschek, offer on-premise software solutions for customers in industrial, healthcare, and residential sectors. One of the primary reasons for adopting on-premise BIM software is that organizations maintain complete control over their data, as it is physically stored on their premises. This control over data flow is particularly appealing to many firms. Additionally, on-premise deployment is feasible for small- and medium-sized enterprises because it simplifies data management, allowing them to handle their data more efficiently and securely within their own infrastructure.

AEC professionals to grow at highest CAGR during the forecast period.

BIM software offers AEC professionals robust project management features, including cost estimation, scheduling, and clash detection. These capabilities enhance project outcomes and help ensure deadlines are met. Additionally, BIM aids in designing and constructing more sustainable and energy-efficient buildings, a growing priority in the industry. This focus on sustainability is increasing the demand for BIM tools among environmentally-conscious professionals.

Building Information Modeling Industry Regional Analysis

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region is rapidly adopting digital technologies, including Building Information Modeling (BIM), as construction companies aim to enhance efficiency, productivity, and collaboration. This surge in adoption is driven by a construction boom in the region, fueled by population growth, urbanization, and economic development, which in turn is increasing the demand for BIM software. The favorable economic conditions and the expanding construction activities in the Asia Pacific are expected to sustain the high growth rate of the building information modeling industry. As construction firms continue to embrace digital solutions to meet the demands of large-scale projects, BIM adoption is likely to grow even further.

Building Information Modeling Market by Region

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Top Building Information Modeling Companies - Key Market Players

• Autodesk Inc. (US), 
• Nemetschek Group (Germany), 
• Bentley Systems, Incorporated (US), 
• Trimble Inc. (US), 
• Dassault Systèmes (France), 
• Schneider Electric (France), 
• Asite (UK), 
• Procore Technologies, Inc. (US), 
• Hexagon AB (Sweden), 
• Archidata Inc. (Canada)

These companies have used organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships to strengthen their position in the BIM market.

Building Information Modeling Market Reprot Scope

Building Information Modeling Market Highlights

This research report categorizes the BIM market share based on offering type, deployment type, project phase, vertical, application, end user, and region.

Recent Developments in Building Information Modeling Industry

• In March 2024, Autodesk has introduced several new features in Autodesk Construction Cloud (ACC) designed to help project leaders and teams prevent costly mistakes. These features, including Specifications, Work Planning capabilities, and Model-Based Progress Tracking, provide teams with critical project insights drawn from data, enabling them to make informed decisions. The updated Model Viewer also enhances field collaboration by enabling teams to concentrate on construction rather than spending time searching for essential information.
• In January 2024, ALLPLAN, a leading global provider of BIM solutions for the AEC industry, has revealed that users of Allplan Subscription will now enjoy enhanced functionality for interconnected 2D and 3D workflows. A new addition to Allplan Subscription is Allplan Cloud, a comprehensive solution that seamlessly integrates Allplan desktop and cloud applications, enabling users to maximize their data utilization. Allplan Cloud incorporates a robust cloud-based BIM collaboration platform, which now features the latest addition: Bimplus Overlay functionality.
• In August 2023, Bentley Systems, Incorporated, a leader in infrastructure engineering software, announced its acquisition of Blyncsy, a company known for its innovative AI services tailored for transportation departments to enhance operations and maintenance. This acquisition strengthens Bentley’s iTwin Ventures portfolio by advancing the creation and dissemination of comprehensive infrastructure asset analytics within the digital twin ecosystem.
• In January 2023, Trimble acquired Ryvit, a provider of Integration Platform-as-a-Service (iPaaS) solutions for the construction sector. Ryvit creates connections between widely used applications and data sources, facilitating information sharing both within and across organizations. This enables project teams to access accurate information promptly for informed decision-making. The acquisition enhances Trimble Construction One, Trimble's connected, cloud-based construction management platform, which improves speed, efficiency, and accuracy throughout the construction project lifecycle. With Trimble Construction One, customers gain better visibility into real-time project status and cash flow, resulting in more confident and reliable project delivery.
• In December 2022, Dassault Systèmes, Egis, and B4 partnered for a project to rebuild cities in Ukraine. The French government supports the project with a grant from the French Treasury. The project will combine Dassault Systèmes' 3DEXPERIENCE platform and Egis' and B4's construction engineering expertise in a two-phase approach: a damage assessment and reconstruction cost analysis in the Chernihiv Oblast, followed by a strategic master planning for reconstruction in the city of Chernihiv.

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