Building Information Modelling Market - Trends Forecast Till 2028

Market Overview

The Building Information Modelling (BIM) market was estimated to be worth USD 8.89 billion in 2020 and is projected to reach a CAGR of 19.62% over the forecast period of 2021 - 2028.

Building Information Modelling (BIM) is a 3D model-based process for creating and managing information on a construction project across the project lifecycle. The important outputs of this process are the building Information model, the digital description of every aspect of the built asset to manage the building infrastructure in a better way.

With the rapid growth in population, there has been a rise in the demand for the residential sector, with various governments across the globe and this is the major factor that has supported long-term expansion for Building Information Modelling Market.

The COVID-19 pandemic has severely impacted the construction and building industry. The fragmented and unorganized construction and infrastructure sector is facing extreme challenges because of the outbreak. Disturbances during the lockdown in manpower, material supply, plants, machinery, and construction projects are likely to restrict the expected growth of the industry.

Regional Analysis

North America is one of the critical markets for BIM; it comprises the US, Canada, and Mexico. This region is the early adopter of advanced BIM technology, which is a recently developed innovative approach to design and construction.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Autodesk Inc.
• Bentley Systems Inc.
• Dassault Systemes SA
• Hexagon AB
• Trimble inc.

Recent Developments

• May 2019 - Autodesk, Inc. by combining the power of its BIM and the cloud, has moved from static images to completely immersive, intelligent virtual reality solution. The solution allows any project stakeholder to experience a digital model before it is built, helping to ensure vision aligns with the design. Potential conflicts or required changes can more easily be identified before issues arise during construction.
• July 2018 - Autodesk, Inc. announced the acquisition of Salem, Massachusetts-based Assemble Systems, Inc. Assemble Systems provides a SaaS solution that enables construction professionals to condition, query and connect BIM data to key workflows across bid management, estimating, scheduling, site management, and finance.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Building Information Modelling Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope