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2020
Building Information Modeling Market

Building Information Modeling Market

By Component (Solution and Services) Deployment Mode (On-premise and Cloud), Project Life Cycle (Preconstruction, Construction, and Operations), Building Type (Commercial, Residential, and Industrial), Application (Planning & Modelling, Construction & Design, Asset Management, Building System Analysis & Maintenance Scheduling, and Others), and End User (Architects/Engineers, Contractors, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A00919
Pages: 395
Nov 2020 | 50766 Views
Author(s) : Vikas G
Tables: 198
Charts: 85
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Building Information Modeling Market Statistics: 2027

The global building information modeling market size was valued at $5,205 million in 2019, and is projected to reach $15,892 million by 2027, registering a CAGR of 15.2% from 2020 to 2027. Building information modeling (BIM) is a type of software used by real estate companies; construction firms; and architecture, engineering, and construction (AEC) professionals for effective project life cycle management. The key objective of building information modeling software is to enhance project performance and produce better outcomes. BIM helps construction managers to gather data and information from relevant disciplines and communicate more effectively. Enhanced data communication and coordination among various stakeholders coupled with improved construction productivity provides a leading edge to BIM users. 

The COVID-19 outbreak has low impact on the growth of the building information modeling market as the lockdown during the COVID-19 has enabled wide adoption of BIM to allow projects to continue in a virtual and digital environment even when participants were unable to meet in person. The pandemic has forced to find safer and smarter ways for building offices and homes.

On the basis of component, the solution segment dominated the overall building information modeling market in 2019, and is expected to continue this trend during the forecast period. This is attributed to increase in adoption of building information modeling solutions among the AEC industry. Most of these organizations have started adopting these solutions to align all construction processes together such as procurement and data management, which improve the overall productivity of construction projects. However, the services segment is expected to witness highest growth, as over past few years, owing to increase in the adoption of services among end users, as they ensure effective functioning of BIM software and platforms. Furthermore, surge in demand for cloud-based building information modeling services is expected to provide lucrative opportunities for the market growth during the forecast period.

Buidling Information Modelling Market 2020-2027

Depending on deployment mode, the on-premise segment dominated the building information modeling market share in 2019, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to rise in concerns about security of data associated with construction projects, which is highly valuable. Larger firms in the AEC industry such as Autodesk Inc. and Nemetschek AG provide on-premise software for their customers in industrial, healthcare, and residential sectors.

However, the cloud segment is expected to witness highest growth in the upcoming years, as the cloud-based building information modeling solution does not involve capital cost as well as is low in maintenance requirements, and hence can be most preferred by mid-sized institutions. Rise in adoption of cloud-based building information modeling solution among both large and mid-sized enterprises majorly drives the market growth.

North America dominates the BIM market size, owing to the ongoing technological advancements in products offered by players operating in the market, supportive government policies, increasing environment awareness, and growing real estate industry. With rise in rate of real estate in retail, healthcare, entertainment, and industrial sectors, these businesses are finding it difficult to integrate multiple services during the process of planning, designing, and construction. However, Asia-Pacific is expected to exhibit highest growth during the forecast period, as the adoption of BIM technologies is prominent in this region, owing to the booming construction sector. Surge in the retail sector as well as development in infrastructure in the region are expected to be the key factors facilitating the growth of the building information modeling market.

Building Information Modeling Market
By Deployment Mode

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Cloud-based deployments are projected as one of the most lucrative segments.

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The report focuses on the growth prospects, restraints, and building information modeling market analysis. The study provides Porter’s five forces analysis of the building information modeling industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the building information modeling market trends.

Segment review

The global building information modeling market is segmented into component, deployment model, project life cycle, building type, application, end user, and region. In terms of component, the market is bifurcated into solution and services. Depending on deployment model, it is fragmented into on-premise and cloud. By project life cycle, it is segregated into preconstruction, construction, and operations. In terms of building type, it is differentiated into commercial, residential, and industrial. The applications covered in the study include planning & modelling, construction & design, asset management, building system analysis & maintenance scheduling, and others. As per end user, the market is divided into architects/engineers, contractors, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Building Information Modeling Market
By Building Type

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Residential buildings are projected as one of the most lucrative segments.

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COVID-19 impact analysis

The COVID-19 pandemic has brought radical changes to daily lives of the people, work, and the surrounding environment. According to the building information modeling market forecast, the current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has low impact on the growth of the BIM market size as the lockdown during the COVID-19 has enabled wide adoption of BIM to allow projects to continue in a virtual and digital environment even when participants were unable to meet in person. The pandemic has forced to find safer and smarter ways for building offices and homes. This global public health crisis has confirmed the significant demand for new ways of building offices and homes, using smart construction to tackle design problems, outdated techniques, inefficiency, and environmental challenges. For instance, when the lockdown measures were announced in response to the virus outbreak, Cox Architecture, one of the largest architectural practices in Australia, quickly enabled its staff to work from home by providing VPN access to its Autodesk AEC collections. In addition, it increased its investment in BIM360 design for cloud-enabled Revit work sharing.

Top impacting factors    

The growth of the global building information modeling market is driven by the fact that the enhanced data communication and coordination among various stakeholders coupled with improved construction productivity provides a leading edge to BIM users. In addition, rise in government mandates for BIM usage across the globe and expansion of the construction industry fuel the growth of the market. However, high cost of the software and limitation of the trained professionals hamper the growth of the market. On the contrary, technological advancements to manage data at remote servers and improvised inter-coordination between users using cloud-based solutions are expected to provide lucrative opportunities for the growth of the market during the forecast period.

Building Information Modeling Market
By Application

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Asset Management segment is one of the most significant segments.

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Government mandates for BIM usage

Policies and regulations implemented by governments for the deployment of BIM solutions in construction of public and private infrastructure across different regions foster the growth of the BIM market. In North America, in most countries, the use of BIM for commercial projects has been made mandatory. Moreover, the UK Government proposed a mandate for BIM level 2 for all government projects after April 4, 2016. In addition, countries, such as Singapore and the UAE, have regulations with respect to the usage of BIM in infrastructure, industrial, and commercial projects. Furthermore, Germany is working to make BIM mandatory in all infrastructure projects by the end of 2020, while Denmark, Spain, and Italy reached 100%, 93%, and 82%, respectively. Thus, implementation of positive government policies encouraging the use of BIM is one of the major growth drivers of the BIM market, globally.

Emergence of virtual reality (VR) and augmented reality (AR) technologies and their integration with BIM

In the construction industry, technologies and processes that support BIM are constantly evolving. Increase has been witnessed in the trend of BIM integration with AR/VR where users visualize a virtual world and can interact with it. Increase in popularity of BIM integration with AR/VR is opportunistic for the market growth, as it improves communication among stakeholders and provides better visualization for designers, engineers, and other stakeholders, enabling one-to-one fully immersive experience. In addition, to address some of the inherent deficiencies of BIM and to open a new area for enhancement in the AEC industry, researchers have proposed the use of new technologies such as AR and VR. AR/VR technologies can potentially enhance BIM in several aspects, such as real-time on-site communication, thus providing potential growth opportunities for the market.

Building Information Modeling Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region is projected as one of the most significant segments.

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Key Benefits For Stakeholders

  • This study includes the building information modeling market analysis, current trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and building information modeling market opportunity.
  • The building information modeling market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in building information modeling market.

Building Information Modeling Market Report Highlights

Aspects Details
By Component
  • Solution
  • Services
By Deployment Mode
  • On-premise
  • Cloud-Based
By Project Life Cycle
  • Preconstruction
  • Construction
  • Operations
By Building Type
  • Commercial
  • Residential
  • Industrial
By Application
  • Planning & Modelling
  • Construction & Design
  • Asset Management
  • Building System Analysis & Maintenance Scheduling
  • Others
By End User
  • Architects/Engineers
  • Contractors
  • Others
By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Singapore, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players AUTODESK INC., ASITE SOLUTIONS, AVEVA GROUP PLC, BECK TECHNOLOGY LTD., BENTLEY SYSTEMS, INCORPORATED, DASSAULT SYSTÈMES, HEXAGON AB, NEMETSCHEK SE, PENTAGON SOLUTION LTD., TRIMBLE LTD.
 

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The adoption of building information modeling solution has increased over time due to the booming construction industry and evolving supportive government regulations across the globe. In addition, the ability of software to improve productivity of employees on the construction site and reduces conflicts in construction projects is increasing its popularity among the end users. Furthermore, many small and medium size enterprises are adopting cloud-based building information modeling solutions for reducing cost of the construction project and increasing safety of workers on construction sites.

Increase in economic strength of developing nations such as China, India, Indonesia, and Thailand is expected to provide lucrative opportunities for the market growth. North America is expected to dominate the market during the forecast period. Moreover, emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities during the forecast period. The global players are focusing toward product development and increasing their geographical presence, owing to growth in competition among local vendors, in terms of features, quality, and price. In addition, these players are adopting various business strategies to enhance their product offerings and strengthen their foothold in the market. For instance, in January 2019, Autodesk Inc. acquired BuildingConnected, a leading preconstruction platform, which is expected to help Autodesk provide transparency, better collaboration and efficient bidding process, essential for delivering complex construction projects.

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