Building Information Modeling Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Component (Software, and Services), By Deployment Mode (On-premise, and Cloud), By Application (Residential, Commercial, Industrial, and Infrastructure), By End-use Industry (Government & Private, Manufacturing, Architecture, Engineering, and Construction (AEC), and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Building Information Modeling Market is expected to expand at a CAGR of 11.7% between 2023 and 2030. Building information modeling is a software and is innovative approach to the planning, design, construction, and management of buildings and structures. Building information modeling(BIM) is the foundation of digital transformation in the architecture, construction, and engineering industry. BIM is a revolutionary digital technology used for architectural planning and entire building lifecycle. BIM software usually used by construction firms, AEC professionals, and developers for effective project lie cycle management. The major objective of building information modeling solution is to enhance project performance and produce better outcomes. BIM software is becoming more popular among various industries due to its exceptional advantages. The lucrative advantages offer by BIM software includes, improved efficiency, better design quality, reduced costs, time and money savings, and increased return on investments. The market is influenced by factors such as rapid urbanization, governments regulations and mandates, digital transformation in construction, and increase in construction activities The building information modeling market serves residential, commercial, industrial, and infrastructure sectors.

Building Information Modeling Market Major Driving Forces

Rapid Urbanization: Due to the expanding urbanization worldwide, the building information modeling market is growing rapidly. Owing to the increase in population especially in emerging economies, the need for improved infrastructure for commercial and personal have been increased significantly.

Governments Regulations and Mandates: The rise in government regulations for building information modeling usage throughout the world drives the market growth. Many governments across the globe have taken initiatives to mandate and encourage the use of BIM technology in construction sector.

Digital Transformation in Construction: The increasing adoption of digital technology by construction sector is driving the growth of the building information modeling market. The construction industry is experiencing digital transformation due to advancement in technology such as cloud computing, internet of things(IoT), and mobile accessibility.

Increase in Construction Activities: The key driver of building information modeling is increase in construction activities across the globe. The construction industry has witnessed a rapid growth in most of the developing countries. Increasing number of construction projects, and growing demand for automated models in architecture, engineering, and construction sectors have been influencing the demand for BIM in construction industry.

Building Information Modeling Market Key Opportunities

Integration with Augmented Reality (AR) and Virtual Reality (VR): The integration of BIM with augmented reality (AR) and virtual reality (VR) technologies is expected to provide opportunities for market growth. These advanced technologies allow stakeholders to visualize BIM models in immersive 3D environments. VR and AR enable interactive design reviews where stakeholders can explore virtual models in real-time.

Cloud-Based Solutions: The adoption of cloud-based BIM solutions is anticipated to present opportunities for market expansion. Cloud-based BIM solutions offer readily accessible, scalable, and collaborative BIM platforms. Cloud-based platforms offer flexibility, real-time data sharing, and remote access to BIM models.

Green Building and Sustainability: The growing emphasis on environmental sustainability and green buildings practices is expected to create opportunities for BIM in sustainable construction.  BIM is considered as a significant solution toward achieving a more sustainable future for the construction industry. BIM can help to reduce waste and optimize resource use throughout the entire infrastructure projects.

Building Information Modeling Market Key Trends

·         The rapid expansion of the construction industry globally is a key factor shaping the growth of the market

·         Governments initiatives for promoting and mandating the BIM usage in construction projects

·         BIM integration with IoT sensors is a notable trend, enabling real-time monitoring of buildings and infrastructures

·         Industries including architecture, engineering, and construction are increasingly adopting BIM technology

·         Integration of BIM with augmented reality (AR) and virtual reality (VR) is beneficial to market growth that enhance stakeholder engagement

·         The growing adoption of cloud-based BIM solutions that offer flexible, real-time data sharing, and remote access to BIM models

·         Rising environmental and energy concerns is one of the key trend in the global market

Market Competition Landscape

The global building information modeling market is highly competitive among a large number of domestic, international, and regional players. These major players are focused on adoption of advanced and transformative technology to stay ahead with the innovative features. Key players in the building information modeling market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global building information modeling market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Autodesk, Inc.

·         Nemetschek Group

·         Bentley Systems, Incorporated

·         Trimble Inc.

·         Dassault Systèmes SE

·         Graphisoft SE

·         RIB Software SE

·         Robert McNeel & Associates (TLM, Inc.).

·         Cadsoft Corporation

·         AECOM

·         Archidata Inc.

·         Hexagon AB

·         Procore Technologies, Inc.

·         AVEVA Group Plc.