What Has Been the Growth Trajectory for the Building Information Modeling Market in Recent Years?
The building information modeling market has seen considerable growth due to a variety of factors.
• In the last few years, the market size for building information modeling has seen a significant increase. The market is predicted to expand from a value of $7.39 billion in 2024 to a worth of $8.59 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.3%. Factors that contributed to this growth during the historic period include the expansion of building lifecycle management, industry-specific standards and certifications, efficiency improvements and cost reductions, government directives and obligations, and the advent of 3D modeling.
How Does the Forecast Look for the Building Information Modeling Market?
The Building Information Modeling market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the building information modeling market is predicted to experience a significant growth surge, reaching $16.43 billion by 2029 at a compound annual growth rate of 17.6%.
This predicted expansion during the forecast timeframe is due to various factors, including the increase in remote collaboration tools, prioritizing building performance analysis, the concentration on smart cities and urbanization, escalating demand for the incorporation of facility management, and advancements in the fifth dimension building information modeling . Foreseen trends through the forecasted period consist of the assimilation of artificial intelligence and machine learning, the emergence of cloud-based BIM solutions, commitments towards sustainable design and environmentally-friendly building methods, as well as the proliferation of virtual reality and augmented reality within the BIM sector.
What Are The Leading Drivers Of Growth In The Building Information Modeling Market?
The modular construction market is predicted to be spurred on by the swift escalation in construction. The construction sector falls under the industrial segment of business and production that deals with the building, refurbishing, repair, and maintenance of infrastructure. These construction processes necessitate the requirement for building information modelling to accomplish greater productivity and diminish project lifecycles via improved communication and coordination. As a result, the construction industry can expedite the overall project by considerably lessening the amount of work and time involved. For example, as reported by the US Census Bureau, a government agency in the US, the worth of construction projects increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, a swift escalation in construction is projected to stimulate the expansion of the building information modeling (BIM) market.
How Are The Segments Defined Within The Global Building Information Modeling Market?
The building information modeling market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Type: On Premises Deployment, Cloud Deployment
3) By Project Lifecycle: Preconstruction, Construction, Operation
4) By Application: Planning And Modelling, Construction And Design, Asset Management, Building System Analysis And Maintenance Scheduling, Other Applications
5) By End User: Architects Or Engineers, Contractors, Other End Users
Subsegments:
1) By Software: 3D Modeling Software, BIM Management Software, Visualization Software
2) By Services: Consulting Services, Implementation Services, Training And Support Services
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How Are New Trends Expected To Influence The Growth Of The Building Information Modeling Market?
The increasing prevalence of IoT (Internet of Things) in the construction industry is becoming a hot topic in the building information modeling (BIM) market. Through streamlining ordering and modeling processes, IoT can reduce the time spent on these tasks. Key participants in the building information modeling field are aiming to develop IoT-centric solutions to enhance their standing in the market. To cite an example, in March 2022, Poland's technology firm SIMLAB integrated BIM and IoT smart building technologies into Matterport Digital Twins. This technology empowers construction project management to efficiently monitor and visualize various important aspects at the architectural design phase, and also allows for the inspection of construction sites without the need for physical presence.
Who Are the Key Players In The Building Information Modeling Market?
Major companies operating in the building information modeling market include:
• Autodesk
• The Nemetschek Group
• Bentley Systems Incorporated
• Trimble Navigation Limited
• Pentagon Solutions
• Asite Solutions
• AVEVA Group PLC
• Hexagon AB
• ACCA Software Inc.
• Vector Networks Inc.
• Revit Modelling India
• Pinnacle Infotech
• Planon Group
• LOD Planner Inc.
• Cadsoft Corp.
• Archidata Inc.
• Tekla Corporation
• Dassault Systèmes
• Graphisoft SE
• Procore Technologies Inc.
• Bluebeam Inc.
• Synchro Software Ltd.
• Architecture Engineering Construction Operations and Management
• Mott MacDonald Group
• PTC Inc.
• Siemens Digital Industries Software
• Corecon Technologies Inc.
• Newforma Inc.
• BIMobject AB
• FARO Technologies Inc.
• Hilti Group
• ClearEdge3D Inc.
• PlanGrid
• Solibri Inc.
• ALLPLAN
• RIB Software SE
• BuildingConnected
• Pointfuse Ltd.
What Is The Most Dominant Region In The Building Information Modeling Market?
North America was the largest region in the building information modeling market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building information modeling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
