Building Information Modeling (BIM) Software Market Size, Share, Growth, and Industry Analysis by Type (3D BIM- Design Model, 4D BIM- Construction Dynamics, 5D BIM- Cost, 6D BIM- Built Facilities, 7D BIM- Environmental Protection), by Application (Architect, AEC Engineering Office, Contractor, Owner, Others), and Regional Forecast To 2032

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BUILDING INFORMATION MODELING BIM SOFTWARE MARKET REPORT OVERVIEW

Global Building Information Modeling (BIM) Software Market size was USD 4.99 Billion in 2023 and market is projected to touch 23.3 Billion by 2032, exhibiting a CAGR of 18.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with building information modeling (BIM) software market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.

Building information modeling (BIM) software is a complete process that involves the creation and management of information for a proficiency, commercial unit, or asset. Building information modeling (BIM) software is a type of software used for effective project management by real estate companies, construction firms, and architecture, engineering, and construction experts. The primary goal of building information modeling software is to develop project performance and produce better outcomes. BIM software provides advanced work flow capabilities design high performing and efficient building. Development of infrastructure to support growing road and railway network due to ever increasing population is projected to fuel the market in future.

Building information modeling (BIM) software market is based on various Information data of construction projects to build a three-dimensional Building model and simulate the real Information of buildings through digital Information simulation. BIM software helps contractors and engineers improve their design efficiency and reduce the cost and time needed to limit the faults occurring during construction projects. It reduces the wastage of raw materials, providing a better understanding of construction design concepts. BIM is acting as one of the latest fastest growing technologies to be adopted.One of the key factors that could challenge worldwide market growth is the proof of cost-effectiveness when BIM software are used in small projects.

COVID-19 IMPACT

"Pandemic hampered supply chain, resulting in market depletion"

The pandemic had caused lockdown and temporary shutdown of almost all construction sites. Thus it negatively impacted the construction sector. The delay in supply chain resulted in shortage of materials, parts, equipment’s and others which had resulted in distraction for contractors for performing prescribed responsibilities. Due to lack of funds and unavailability of workers the economic sector disrupted the business.

LATEST TRENDS

"Promoting usage of BIM software to boost the market growth "

The worldwide development of smart cities and smart offices is the main application area for BIM software. Ultimately increasing the dependence on BIM software for greater operational effectiveness, the deployment of smart cities and smart offices is gaining speed as each region gets ready for the future. Many countries are moving toward BIM creations across their regions, continuing technological advancements such as the development of advanced 4D building information management (BIM) software are anticipated to create opportunities for market players operating in the universal architectural services market. Government of India has taken various initiative to develop smart cities. Increase in awareness about BIM software to create immense opportunities for the market players in future period.

BUILDING INFORMATION MODELING BIM SOFTWARE MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into 3D BIM- Design Model, 4D BIM- Construction Dynamics, 5D BIM- Cost, 6D BIM- Built Facilities, 7D BIM- Environmental Protection .

3D BIM- Design Model capture the maximum market share through forecast period.

By Application Analysis

According to application, the market can be segmented Architect, AEC Engineering Office, Contractor, Owner, Others.

Building Information Modeling (BIM) Software Market players cover segment like Architect will dominate the market share during forecast period.

DRIVING FACTORS

"Product innovation to support further growth"

Industry existence depends on the rate at which they can meet the vigorous, changing demand or requests of the end-users. BIM software may get access to higher growth opportunities as the players in the building information modeling (BIM) software market are constantly working toward incorporating better systems to provide better user experience and outcomes.

"Growing investment towards infrastructure development to lift the market demand"

Building information modeling (BIM) software is likely to grow due to the rise in investments across the world for infrastructure development. Good infrastructure can effectively help reduce the price of delivered goods, help in removing any productivity constraint, allow hassle-free and convenient physical mobility of people and goods and help in increasing competitiveness. Moving toward fast-paced growth to meet the rising difficulties of the rising population, extensive development and urbanization has projected the BMI software rate to rise steeply in the forecast period.

RESTRAINING FACTORS

"High cost of implementation to deplete the Market growth"

There is High cost of implementation of BIM software, the cost not only includes the expenses related with the technology or the tools but other immaterial costs as well. They have to invest in other factors starting from compliance concerns to vendor management also Investment in training and education of BIM software might be expensive. Lack of skilled labours and technical expertise makes it challenging for developers to deploy BIM in construction activities.

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BUILDING INFORMATION MODELING BIM SOFTWARE MARKET REGIONAL INSIGHTS

"North America to dominate the market due to the expansion of construction sector in the region"

North America is one of the leading regions in the Building Information Modeling (BIM) Software market. The growing construction sector and high demand for these software solutions by contractors, architects, and building owners in the region nurture market growth and market share. North America is focused by the higher product adoption rate due to growing awareness amongst businesses and government bodies about the advantages offered by Building Information Modeling (BIM) Software. The growing requirement for automated models to save resources and avoid unnecessary costs could further help regional growth, especially in the architecture, engineering, andconstruction business.

KEY INDUSTRY PLAYERS

"Key companies to focus on technological advancements to gain firm growth in the market"

Technological advancements enabling data management at remote servers and inter-coordination between users is firming the market growth. BIM software enables to collaborate and create a precise virtual model of a building and exchange information between different project parties. Government instructions regarding the usage of BIM software in building construction are projected to propel the market growth. Key developments in BIM software market depends on growth strategies such as product launches, product approval, patents, collaboration, acquisition and partnership. Building information modeling (BIM) software is consolidated with the presence of few large scale vendors that control majority of share also investment in research and development activities are expected to drive the market. Government of many countries have taken proactive initiatives to boost the implementation of BIM software.

List of Top Building Information Modeling BIM Software Companies

• Autodesk, Inc (U.S.)
• Nemetschek AG (Germany)
• Bentley Systems, Inc (U.S.)
• Trimble Navigation Ltd (U.S.)
• Dassault Systemes S.A. (France)

REPORT COVERAGE

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. The objective of the report is to present a comprehensive analysis of the Building Information Modeling (BIM) software market to the investors in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of data.