With rapid urbanization and industrialization, a great need to construct various structures is occurring, consequently driving the global building information modeling market. Companies are rapidly churning out user friendly solutions, which promise to drastically increase the demand for BIM solutions in future.
According to expert analysts, the global building information modeling market is expected to surge ahead at a stellar CAGR of 19.1% during the forecast period from 2015 and 2022. With this growth, the market is projected to gain revenue worth US$11.5 bn by 2022, which is a spectacular increase from a previous valuation of US$2.7 bn achieved in 2014.
Construction of Roads, Bridges, and Highways to Witness Tremendous Growth
The global building information modeling market is segregated into various segments on the basis of type, solution type, end user industries, and end users. Under end-users, contractors, architects, engineers, and developers comprise the key segments in the market. Of these, the architects segment held a leading spot with a share of about 38% in 2014. However, experts believe that the adoption of BIM software solutions could surge among contractors during the forthcoming years, thus making it the leading segment. Furthermore, owing to a rapidly increasing number of construction projects, the architects segments could also portray a leading stance in the global building information modeling market during the forecast period.
By end-use, major segments present in the market are dam, education institutes and commercial spaces, roads, bridges and highways, energy generation facilities, government buildings, houses and apartments, rail transit and aviation, factories and warehouses, and others. Of these, the roads and highways and rail transit and aviation segments showcase maximum utilization of BIM solutions. Nevertheless, increasing investments in infrastructural development, majorly in developed economies is expected to highly boost the demand of BIM solutions in the roads, highways, and bridges segments, in future.
North America Comes Out Winner Owing to a Burgeoning Construction Industry
Geography-wise, the global building information modeling market is spread across North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. Of these, North America and Asia Pacific have depicted maximum growth in the market owing to a fantastic demand for BIM solutions. Among both regions, North America portrays a leading presence in the market with a share of over 33% gained in 2014. Apart from a high demand for BIM solutions, numerous enterprises are adopting cloud-based engineering software programs on a large-scale basis. This in turn has increased the use of notable BIM software in the region, further cementing its position as a dominant regional sector throughout the forecast period. Moreover, the construction industry has been growing with leaps and bounds in North America, which has fueled demand for BIM solutions in the region too, consequently making it a leading regional segment.
Apart from North America and Asia Pacific, growth in the global building information modeling market showcased in Europe also has been substantially spectacular. This region held the runner-up spot in terms of revenue generated in this market in 2014. Such an expansion has mainly been possible in Europe owing to increasing adoption of BIM solutions by local government construction clients
Asia Pacific to Steal the Show from Other Regions during the Upcoming Years
However, market experts predict Asia Pacific to clock the topmost CAGR in the global building information modeling market at 21.2% during the course of the forecast period. The rapid expansion of the construction, engineering, and architecture industry across countries such as India, Japan, and China are mainly responsible for such a splendid forecasted growth in this region, thereby stoking demand for BIM software sales.
Dassault Systemes SA, Pentagon Solutions Ltd., Synchro Software Ltd., Bentley Systems Inc., Autodesk Inc., Beck Technology Ltd., Nemetschek AG, AECOM, Tekla Corporation, and GRAITEC, are some of the chief players operating in the global building information modeling market.
Building information modeling (BIM) is a 3D visual presentation of a technical drawing that includes the plan, elevation, and section of a building. It is a kind of digital fabrication system in which the actual model of the building is digitally constructed with accurate values. Apart from 3D visualization, BIM also covers 4D and 5D, which comprise the time and cost plans, respectively. Among the other features that make BIM a prominent tool in the field of architecture, engineering, and construction (AEC) are geographic information, light analysis, lean construction, and the quantities and properties of building components. It gives architects, engineers, and contractors a brief visualization or an overview of the building, and makes it easier to implement and convey the information more precisely. The BIM tool is considered to be one of the game-changing elements in the AEC industry.
This research report provides in-depth analysis of the global BIM market based on solutions, end-users, end-use industries, and geography. In terms of geographical regions, the report segments the global BIM market into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, which are analyzed in terms of revenue generation. North America is further segmented into the U.S. and Rest of North America, while Europe is divided into EU7, Commonwealth of Independent States (CIS), and Rest of Europe. Moreover, Asia Pacific is further subdivided into Japan, China, South Asia, Australasia, and Rest of Asia Pacific. MEA is further segmented into Gulf Cooperation Council (GCC) countries, North Africa, Southern Africa, and Rest of MEA, while Latin America is subdivided into Brazil and Rest of Latin America.
The BIM market is categorized based on solutions, end-users, and end-use industry. The report further segments BIM solutions into software solutions and professional consultancy services. The software solutions segment is further categorized based on the deployment model into cloud-based and on-premise software. Segmentation based on end-users include architects, contractors, engineers, and developers. The end-use industries for the implementation of BIM, covered in the scope of the report, include water and waste water; bridges, roads, and highways; rail, transit, and aviation; energy-generation facilities; houses and apartments; factories and warehouses; educational institutions and commercial spaces; government buildings; dams; and others.
Furthermore, the report analyzes the factors that drive and restrain the growth of the BIM market. The report also discusses prevailing market trends, prospective growth opportunities, and major strategies resulting in the growing popularity of BIM tools. It also provides the market estimates and forecasts for all the segments covered in the report in terms of revenue. Also provided is the market positioning of key players in the global BIM market.
Additionally, the report includes competitive profiling of major players engaged in offering BIM solutions. Major business strategies adopted by them, their market positioning, and various recent developments have also been identified in the research report. The major BIM solution providers profiled in the report include Autodesk Inc., Beck Technology Ltd., Dassault Systemes SA, Synchro Software Ltd., Tekla Corporation, Bentley Systems, Inc., Pentagon Solutions Ltd., AECOM, GRAITEC, and Nemetschek AG.
BIM Market Analysis, by Solution Type
- Consultancy Service
BIM Software Market Analysis, by Type
- On-premise Software
- Cloud-based Software
BIM Market Analysis, by End-users
BIM Market Analysis, by End-use Industry
- Water and Waste Water
- Rail Transit and Aviation
- Energy Generation Facilities
- Roads, Bridges and Highways
- Houses and Apartments
- Factories and Warehouses
- Educational Institutes and Commercial Spaces
- Government Buildings
- Dams and Others
In addition, the report provides cross sectional analysis of the BIM market with respect to following geographical segments:
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America