Building Information Modeling Market Size, Share & Analysis Report By Solution Type (Software, Services), By Application (Commercial, Industrial, Residential, Others), By End User (Architect & Engineers, Facility Managers, Contractors, Others) and Regional Forecasts, 2023 - 2032

Building Information Modeling Market is estimated to be worth USD 8.59 Billion in 2024 and is projected to grow at a CAGR of 13% between 2024 to 2032. The study has considered the base year as 2023, which estimates the market size of the market, and the forecast period is 2024 to 2032. The report analyzes and forecasts the market size, in terms of value (USD Billion), for the market. The report segments the market and forecasts it by Solution Type, by Application, by End User, and by region/country.

The Building Information Model (BIM) can be defined as digital representation of a building that contains semantic information about the building elements. (BIM) Building Information Modeling has become an important area to pursue within engineering, construction and architecture (AEC) industry that has revolutionized all the disciplines. The models which are generated with the help of BIM are being used to analyse and design buildings and infrastructure, which is also an active research area that addresses problems that are usually related to the sharing of information, interoperability, and effective collaboration throughout the life cycle of a building from feasibility and conceptual designs through the demolition and recycling stages.

The ability to incorporate schedule and cost data with the analysis and design process in BIM has made it a very widespread tool in the AEC industry. Utilizing BIM in the full lifecycle of a building and various infrastructure will eventually maximize the benefits of BIM to the AEC industry and owners. 

After reviewing the data shown below, it can be determined that the North America region dominates the Building Information Modeling Market for the following reasons.
The North American region is significantly dominating the Building Information Modeling Market due to the major government initiative known as the U.S. National BIM Program led by the National Institute of Building Sciences to boost digital transformation within the country in the construction sector. The U.S. construction industry is a major driver of the U.S. economy. Employing 7 million people, it creates and renovates nearly $1.4 trillion in buildings, infrastructure, and other assets annually. This robust industry is a significant propeller of Building Information Modeling (BIM) market growth within the North American region.
The Asia Pacific market is also steadily growing due to the new BIM policies implementation due to the increasing demand within the region. Setting clear standards for BIM implementations helps streamline the process and reduce compatibility issues between different software platforms. Due to these features it makes an attractive option to construction companies, further promoting BIM market growth significantly.

Segmentations

By Solution Type

Based on Solution Type, the Building Information Modeling Market is bifurcated into Software and Services– where Software segment is dominating and ahead in terms of share.
The Software segment within the solution type is dominating due to the its impressive offerings such as being able to provide performance data, collection of data on the status of construction projects and analytical engines to improve building efficiency and also helps in cost reduction and control which makes the Solution Type segment dominates the Building Information Modeling market.

By Application

Based on Application, the Building Information Modeling Market is bifurcated into Commercial, Industrial, Residential and Others– where Commercial segment is dominating and ahead in terms of share.

By End User

Based on End User, the Building Information Modeling Market is bifurcated into Architect & Engineers, Facility Managers, Contractors and Others– where Architect & Engineers segment is dominating and ahead in terms of share.

Key Players

• Autodesk Inc.
• Asite Solutions Ltd
• Bentley Systems Inc.
• Dassault Systems SA
• Nemetschek SE

Divers

Growing Urbanization
Globally more than 55% of the population stays in the urban areas today and it is estimated that in 2050 it will be around 70%. Owing to the continuous acceleration of global urbanization, the population is gradually gathering in cities, where the urban spatial patterns are continuously changing, and also the mode of transportation is becoming more diversified. Due to the shift in population toward urban areas, the need for residential structures is also increasing significantly. This demand is booming the construction segment, which in turn is driving significant growth in the Building Information Modeling (BIM) market.

Opportunity

Integration of BIM with Internet of Things
The integration with the Internet of Things have been proven very beneficial, as the integration of real time data from the Internet of Things devices with the BIM already a powerful paradigm for various application to improve operational and construction efficiency. As the information concerning buildings functional and physical characteristics such as the material properties, geometry etc. is represented by the BIM models the IoT data can significantly enhance this information set by supplying real time data concerning the actual status of the building which opens new doors for the market growth opportunity for the Building Information Modeling market significantly.