Building Information Modelling Market Research Report by Forecast to 2023
Building Information Modelling Market Scenario:
Market Research Future (MRFR) in its new “Building Information Modelling Market” reports that the worldwide market of building information modelling market is expected to gain high revenue in the forecast years of 2018 to 2023. The building information modelling market is expected to value at USD 8123.5 million by the end of the evaluation span and expand at a CAGR of 14.9 percent between 2018 and 2023.
building information model software enables vector-based representation for construction projects in in 3D formats. It is being widely used for buildings, railways, and roads construction. Benefits, such as improved value-added tasks, enhanced site-safety, better understanding of designs, and reduction of raw materials wastage in construction are surging the demand for BIM, which, in turn, is expected to expand the growth of the market.
Major Key Players and Competitive Analysis:
The report asserts these companies dynamics and their strategies. These marketers are focusing on improving their position through expansions, mergers & acquisitions, and expanding their product portfolio. While international players are casting a great influence on the market, regional players are noted to have a substantial impact. MRFR listed some of the eminent vendors of the building information modelling market. Autodesk Inc., Hexagon AB, Nemetschek SE, Aveva Group Plc, RIB Software SE, Dassault Systèmes, Asite Limited, Bentley Systems, Trimble Inc, and Archidata Inc.
Building Information Modelling Market Segmental Analysis:
The segmental study of the worldwide building information modelling market is done by industry, end-user, product, and project lifecycle.
- By product, the market is segmented into BIM Software, BIM Training services, and BIM Project Management. The BIM software segment is responsible for gaining the highest stake for the global market. In 2018, the market held a valuation of USD 1331.7 million and expected to increase by 2025. The market is expected to tap into a CAGR of 16.2 percent in the forecast span.
- By project lifecycle, the market is segmented into pre-construction, construction, and operation. The pre-construction segment is likely to exceed a market size of USD 1417.0 million by 2025 and surge at a CAGR of 14.9 percent in the years of forecast.
- By end user, the market is segmented into government, engineers, and architects. The engineers segment is expected to surpass a valuation of USD 1347.6 million by 2025. A CAGR of 14.4 percent is expected to be observed by the market in the period of evaluation.
- By industry, the market is segmented into healthcare, residential, commercial, entertainment, industrial, oil & gas industries, sports, and others. The commercial segment is expected to garner more than USD 744 million by 2025 and are expected to thrive at a CAGR of 18.3percent duration of the evaluation period.
Building Information Modelling Market Detailed Regional Analysis:
Regionally, the BIM market’s study is done for Europe, North America, (APAC), and the rest of the world (RoW). The building information modelling market in the North American region is expected to surpass a valuation of USD 1357.6 Million and is expected to thrive at a CAGR of 11.2 percent in the review period.
The Europe market is expected to exceed a valuation of USD 1188.9 Million and thrive at a CAGR of 17 percent by 2025. High per capita income of people is expected to boost the market growth. The substantial demand for BIM in developing design for residential and commercial construction is noted to surge the market in Europe.