3D Modeling is fastest growing segment fueling the growth of Building Information Modelling Market
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| Building Information Modelling Market |
The global Building Information
Modelling Market is estimated to be valued at
US$ 13448.34 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted
in a new report published by Coherent Market Insights.
Market Overview:
Building Information Modelling
(BIM) is a digital representation of physical and functional characteristics of
any built object such as buildings and civil structures. It helps architects, engineers,
and construction professionals to plan, design, construct and manage buildings
efficiently.
Market key trends:
Collaboration between
stakeholders using cloud-based BIM platform is one of the key trends gaining
traction in the global building information modelling market. Cloud-based BIM
platforms allow project stakeholders including architects, engineers,
contractors and owners to collaborate virtually and access latest design and
project information from remote locations. It facilitates smooth sharing of
data and helps synchronization of designs. This in turn improves project
coordination and enhances efficiency of project execution.
Segment Analysis
The building information
modelling market is segmented by type, project life cycle, deployment,
application, end user and region. By type, the 3D BIM segment dominated with
around 60% market share in 2022 owing to its ability to facilitate better
visualization and coordination throughout the project life cycle. By
deployment, cloud-based BIM is expected to grow at the highest CAGR during the
forecast period due to its benefits such as remote access, scalability and
cost-effectiveness.
Key Takeaways
The Global
Building Information Modelling Market Growth is expected to witness
high growth, exhibiting CAGR of 16% over the forecast period, due to increasing
need for improved project efficiency and better visualization among
construction firms.
Regional analysis: North America dominated the market with around
35% share in 2022 owing to stringent regulations regarding adoption of BIM
processes in the region. Asia Pacific is expected to grow at the highest CAGR
during the forecast period due to rapid investment in infrastructure
development in emerging countries such as China and India.
Key players: Key players operating in the building information
modelling (BIM) market are Autodesk Inc., Nemetschek AG, Beck Technology Ltd.,
GRAITEC, Dassault Systemes SA, AECOM, Synchro Software Ltd., Pentagon Solutions
Ltd, Tekla Corporation, and Bentley Systems Inc. Autodesk Inc. holds the
largest market share of around 18% attributed to its robust portfolio of BIM
software solutions such as AutoCAD, Revit and Infrastructure Design Suite.
The global building information
modelling market size is expected to reach US$ 13448.34 Mn in 2023.
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