The Global Building Information Modeling Industry was estimated at USD 4.40 billion in the year 2020, and is expected to reach USD 13.38 billion by 2027. The market is growing with a CAGR of 12.1%, in the forecast period (2017-2027).
The major factor driving the global building information modelling market is the rapidly increasing population along with growing urbanization. According to a data released by United Nation in 2019, world population is expected to reach 9.7 billion in 2050. The rapidly increasing population has resulted in a higher need for housing and infrastructure development and thus creating a significant growth in the construction industry. Poor constructional procedures combined with internal failure due to the lack of flexibility, analysis and re-designing has catered a way for Building Information Modelling (BIM) penetration in the construction projects.
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BIM offers several benefits to the construction professionals including visualization, collaboration, synchronization of design and conflict detection. These benefits have enabled them to design, plan and manage building projects more efficiently. In addition, the use of BIM facilitates offer several advantages over other existing tools, like CAD systems and paper-based design and modelling. Therefore, the growth in the construction industry is projected to bloom the global building information modelling market across the globe.
Global Building Information Modelling Market by Region Outlook (Revenue, USD Billion, 2017-2027)
Middle East Africa
The Global Building Information Modelling Industry Segmentation:
Global Building Information Modelling Market Component Type Outlook (Revenue, USD Billion, 2017-2027)
Global Building Information Modelling Market Deployment Mode Outlook (Revenue, USD Billion, 2017-2027)
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Global Building Information Modelling Market Product Life Cycle Outlook (Revenue, USD Billion, 2017-2027)
Global Building Information Modelling Market Application Outlook (Revenue, USD Billion, 2017-2027)
Company Profiles and Competitive Intelligence
The key players operating in the building information modelling market are:
Pentagon Solutions Ltd.
Dassault Systems SA
Beck Technologies Ltd.
Bentley Systems Inc.
Synchro Software Ltd.
RIB Software SE
AVEVA Group PLC
Beck Technology Ltd.
Other notable players.
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Based on component type, solution segment has dominated the building information modeling market and is expected to hold similar position during the forecast period.
Based on deployment model, the on-premise segment held the largest share in the global building information modeling market.
Based on application, building segment is projected to attain the fastest growth in building information modeling industry during the forecast period.
Based on region, the North America held the largest share in the global building information modeling industry in the year 2020.
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