According to IMARC Group’s latest report, titled “Building Information Modeling (BIM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global building information modeling (BIM) market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.9 Billion by 2028, exhibiting a growth rate (CAGR) of 15.9% during 2023-2028.

Building information modeling (BIM) represents specialized software solutions that give architecture, engineering, and construction (AEC) professionals essential insights for planning, designing, constructing, and managing buildings and infrastructure. They involve several services, such as project cost estimation, operational performance management, effective collaboration among project parties, etc. BIM systems aid in analyzing the qualitative and quantitative aspects of the construction, including time requirement, cost estimation, component procurement, etc., and help in efficiently controlling post-project completion operations, which include maintenance issues and project lifecycle management. Consequently, they are extensively utilized by architects, engineers, contractors, and developers across the globe.

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Market Trends and Drivers:

The expanding urbanization and the increasing construction activities across countries, owing to the growing population, are among the key factors driving the building information modeling (BIM) market. In line with this, the inflating investments by government bodies in infrastructural development projects are also positively influencing the market growth. Besides this, the escalating need for effective substitutes of conventional tools, such as computer-aided design (CAD) systems and paper-based design and modeling that will allow the creation of precise and accurate geometric virtual models with all the involved structures ad components, is acting as another significant growth-inducing factor. Moreover, the launch of advanced technologies facilitating data management at remote servers and inter-coordination among users is further catalyzing the market growth. Apart from this, the emerging trend of integrating internet of things (IoT) technology and cloud-based solutions among both medium and large-sized enterprises, that allows improved data management at remote servers is anticipated to propel the building information modeling (BIM) market over the forecasted period.

Building Information Modeling (BIM) Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the building information modeling market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• ABB Ltd.
• AECOM
• Autodesk Inc.
• Aveva Group Plc (Schneider Electric)
• Beck Technology Ltd.
• Bentley Systems Incorporated
• Dassault Systèmes SE
• Hexagon AB
• Nemetschek SE
• Trimble Inc.

Key Market Segmentation:

The report has segmented the global building information modeling market based on offering type, deployment mode, application, end use sector, end user and region.

Breakup by Offering Type:

• Software
• Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Application:

• Preconstruction
• Construction
• Operations

Breakup by End Use Sector:

• Commercial
• Residential
• Industrial

Breakup by End User:

• Architects and Engineers
• Contractors and Developers
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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