The Global Building Information Modeling Market was valued at USD 7.34 Billion in 2022 and is projected to reach USD 17.50 Billion by 2030, registering a CAGR of 13.60 % for the forecast period 2023-2030.
Market Definition
The technology known as Building Information Modeling (BIM) is a potent and cutting-edge method for organizing, designing, constructing, and overseeing infrastructure and buildings. It entails building digital representations of a facility's structural and operational features. Moreover, cost estimation tools can be integrated with BIM Solution to enable real-time cost analysis during the design stage. Building information modeling (BIM) is a sophisticated 3D modeling Solution program that assists professionals in architecture, engineering, and construction (AEC) in learning about project management. These realizations make it easier to plan, design, process, and efficiently build infrastructure and entire buildings. The demand for BIM is expected to be fueled by its capacity to provide enhanced operational performance, decision-making, project cost estimation, and productive collaboration. The market is anticipated to grow as more residential and commercial buildings are being constructed. To increase operational efficiency, several public and private builders are putting the Solution into practice with government support.
Market Size:
- 2022: USD 7.34 Billion
- 2030: USD 17.50 Billion
- CAGR (2023-2030): 13.60%
Building Information Modeling Market Dynamics
Drivers Propelling the Demand for Building Information Modeling’s include:
Increasing BIM usage as a means of promoting sustainable development:
The construction industry is thought to be making great strides toward a more sustainable future with the use of Building Information Modeling (BIM). This can be attributed, in large part, to BIM's ability to minimize waste and maximize resource utilization across the course of an infrastructure or building project. Designers and engineers can find opportunities for energy efficiency, lower greenhouse gas emissions, and lessen the environmental impact of construction activities by using Building Information Modeling (BIM) to create a digital model of the project. Using sustainable building materials and techniques, such as cutting waste, recycling materials, and lowering the carbon footprint of construction operations, can also be made easier with the help of BIM. Additionally, BIM can enhance teamwork and communication, which lowers mistakes and delays and results in more effective and sustainable building projects. As a result, BIM is regarded as a crucial instrument for accomplishing sustainable development objectives in the building sector and fostering the creation of a built environment that is more resilient and sustainable. Additionally, BIM can help with the utilization of sustainable building materials and techniques, like waste reduction and resource optimization. Furthermore, BIM can enhance teamwork and communication, preventing mistakes and delays that could worsen construction projects' environmental impact. In general, BIM can facilitate the development of more resilient and sustainable built environments by assisting in the construction of more sustainable infrastructure and buildings.
For instance, in August 2022, according to Zigurat Institute of Technology, India has a high population density, and its population is expected to surpass China by 2025. This increases the need for more infrastructure, educational spaces, and social housing. Moreover, as stated by the BIM Academy, according to a 2017-2018 Economic Survey, by 2040, India will require a high investment of around 4.5$ trillion for developing infrastructure and thereby reach its expected economic growth.
Technology integration for augmented reality (AR) and virtual reality (VR) with building information modeling (BIM):
VR and AR technologies allow stakeholders to visualize BIM models in immersive 3D environments. This enhances the understanding of complex architectural and engineering designs. Clients, architects, and construction teams can experience the project more intuitively, improving communication and collaboration among various stakeholders. Furthermore, VR and AR enable interactive design reviews where project stakeholders can explore virtual models in real time. This immersive experience allows for better feedback and decision-making during the design phase. Issues can be identified and resolved more effectively, leading to improved design quality and reducing the likelihood of errors during construction. Moreover, integrating BIM with AR allows facility managers to access BIM data overlaid onto the physical building. This makes facility management more efficient by giving managers access to maintenance records, helps them visualize hidden infrastructure systems, and helps them identify components. AR-based maintenance instructions improve the accuracy and speed of upgrades and repairs. Furthermore, the market for VR and AR technologies is expanding quickly. As a result, during the projected period, each of these factors is anticipated to present a sizable opportunity for developing the information modeling market.
For instance, in August 2022, according to U.S. CAD, Virtual reality is a technology that allows people simulated access to the digital world as if it were the physical world. Most VR systems use a wearable optical extension of a computerized 2D display of 3D graphics, tailored primarily to sound and vision. The most common form factor currently in use is the virtual reality headset. Virtual reality headsets are a combination of specialized computer electronics and optical hardware that provide the user with simulated access to a 2D screen displaying 3D graphics. Most virtual reality headsets use a nearby computer and Solution to generate a digital simulation, while the headset hardware completely obstructs the user’s sight of their physical surroundings.
Recent Developments
In April 2023, Engineers Without Borders International today announced a strategic partnership with infrastructure engineering software company, Bentley Systems. This momentous partnership will help support the organization’s mission of bringing together the global Engineers Without Borders movement so that millions more people can benefit from Press Release: Bentley Systems EWB International Partnership Announcement 20 April 2023 page 2 of 3 work addressing today’s most pressing challenges and accelerating progress for a sustainable and equitable future for all.
In April 2023, Asite, the world’s leading data platform for the built environment, has announced the acquisition of 3D Repo, a pioneer in cloud-based Building Information Modelling (BIM) collaboration software. The combination brings together two innovative companies with complementary technologies and expertise, to drive digitization in construction to new heights. The acquisition of 3D Repo strengthens Asite’s position as a leader in the digital engineering market, providing customers with advanced tools to manage the entire construction lifecycle.
Restraint
High initial cost:
Pricing concerns about the licensing and subscriptions of different modeling services are one factor impeding the growth of BIM. One of the main factors holding back the market is the cost of BIM solutions in comparison to more conventional modeling solutions like AutoCAD. The cost of implementation is increased because the process of implementing BIM involves more than just buying Solutions and solutions it must be integrated into every step of the process, from project delivery to planning. Furthermore, because AutoCAD solutions require larger investments than BIM solutions for modeling services, small and mid-sized construction companies prefer them. BIM adoption has increased in developed nations, especially the United States and the United Kingdom, as a result of robust economic conditions. Specialized hardware and Solutions are needed for BIM, and they can be costly to buy and maintain. Upgrading the hardware and Solution can also raise the overall cost of BIM implementation. BIM calls for specific knowledge and abilities that might not be easily found in a company. It can be expensive to provide employee education and training, especially if it entails paying outside consultants or enrolling staff members in classes. The planning, designing, and implementation of building projects will change significantly as a result of BIM. A company's internal processes may need to be significantly altered when implementing BIM, which can be costly and time-consuming. A lot of data is produced by BIM, which needs to be managed and kept.
For instance, in August 2022, according to Zigurat Institute of Technology, the obstacles that slow the full implementation of BIM across the country are not exclusive to India. Companies point out the high costs involved in this digital transformation, the lack of BIM-qualified professionals in the locus, and the costs involved in acquiring new cutting-edge building Solution as the most relevant ones.
Challenges
Lack of knowledge and awareness regarding BIM.
BIM adoption is sluggish due to its high implementation costs. Large investments in Solutions, hardware, and training are necessary for BIM, which can be prohibitive for small and medium-sized businesses. Furthermore, switching from conventional design and construction methods to BIM can be difficult and time-consuming, necessitating adjustments to workflows and procedures. Furthermore, it can be difficult and time-consuming to make the major workflow and process changes needed to switch from traditional design and construction methods to BIM. In addition, resistance to change and a lack of knowledge about the possible advantages of BIM have hindered its adoption. The construction industry's fragmented structure, wherein multiple stakeholders are involved in a project, each with their own set of priorities and objectives, can impede coordination and collaboration among these stakeholders.
Opportunities
Increasing use of BIM for safety measures.
There are various ways that BIM can increase safety in construction projects. Project teams can identify potential safety hazards and simulate various scenarios by using a virtual model of the construction project created with BIM. This lowers the possibility of mishaps and injuries during construction by allowing engineers and designers to address safety concerns early in the design process. Before construction starts, BIM can identify conflicts between building systems, such as the mechanical and electrical. By doing this, possible safety risks brought on by disagreements between these systems may be reduced. Access routes, safety barriers, and evacuation plans are just a few examples of safety measures that can be planned using 3D models of the construction site made with BIM. By doing this, you can make sure that during construction activities, both site workers and visitors are kept safe. BIM can offer comprehensive details about the systems and parts of the building, including the locations of the fire safety equipment, plumbing, and electrical systems. By making maintenance and repair tasks easier, this information can lower the chance of mishaps and injuries. All things considered, building information modeling (BIM) can be a very effective tool for enhancing safety in construction projects. It can lower the likelihood of mishaps and injuries while guaranteeing that work is done safely and effectively. These elements present a market opportunity.
Snapshot:
| Attributes | Details |
| Market Size in 2022 | USD 7.34 Billion |
| Market Forecast in 2030 | USD 17.50 Billion |
| Compound Annual Growth Rate (CAGR) | 13.60 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Component, By Project Phase, By Application, By End-Use & By Region |
| By Component |
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| By Project Phase |
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| By Application |
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| By End-Use |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2023 - 2030 |
Segment Analysis of the Building Information Modeling Market
The Building Information Modeling Market is segmented by component, application, project phase, end-use, and region.
By Component
The Solution segment held the largest market share in 2022:
The component is sub-segmented into solutions and services. The solution segment accounted for the highest market share 60% in the global Building Information Modeling market for 2022. In recent years, BIM has become recognized as a multipurpose solution. To strengthen its position in the market, it provides customized software versions of DESTINI Estimator, Autodesk Revit, ProStructures, and Vico Office Suite. Contractors and building experts have profited from this solution by increasing their profit margin, saving operating time, and giving customers comfort. Similar to this, during the forecast period, there is expected to be lucrative potential for market growth due to the surge in demand for cloud-based building information modeling solutions and the integration of BIM solutions in the AEC industry to reduce operational costs to increase profit margins.
On the other hand, the services segment has a significant market share over the forecast period, due to During the forecast period, there is expected to be a high demand for BIM services. The market's overall growth is anticipated to be fueled by the growing demand for services like cost planning, virtualization, consultation, and documentation support.
Integration and consulting services are frequently included in the services category. Projects involving the integration of multiple systems and technologies can be complicated when it comes to smart buildings. While integration services make sure that these solutions are deployed smoothly, consulting services assist clients in identifying their unique needs and creating customized solutions.
By Project Phase
The Pre-Construction segment was the leading segment in 2022:
The project Phase is divided into pre-construction, construction, and post-construction. The Pre-Construction segment accounted for the largest share of the global Building Information Modeling market in 2022. Smart building technologies can be easily incorporated into a new building's design and planning during the pre-construction stage. Through this integration, a comprehensive and customized smart building solution can be implemented from the beginning, maximizing the building's overall performance and efficiency. Compared to retrofitting existing buildings, implementing smart building technologies during the pre-construction phase might be more economical. When wiring, sensor installation, and system integration are included in the original construction plans, the associated costs can be reduced. Developers can tailor smart building solutions to the particular requirements of the project in the pre-construction stage. This customization may involve the selection of appropriate automation systems, sensors, and networking infrastructure.
The construction segment is anticipated to register rapid growth in the forecast period, constructing knowledge The builder can preserve the quality of the construction thanks to modeling. When it comes to managing and controlling workers, materials, techniques, equipment, and more during the real construction process, software is crucial. Owners may benefit from improved management capabilities thanks to post-construction BIM. This will probably increase the need for BIM solutions.
By End-User
The Commercial segment was the leading segment in 2022:
By End-User, which is divided into commercial, residential, and industrial. The commercial segment accounted for the largest share of the global Building Information Modeling market in 2022. The need for cost savings and operational efficiency drives the construction of commercial buildings, which include hotels, retail stores, and office spaces. Significant operational cost savings can be achieved with the help of smart building solutions like energy management systems, HVAC optimization, and intelligent lighting. Integrated Building Management Systems (BMS) are frequently used in commercial buildings to centrally control and monitor a variety of building systems. Enhancing overall building performance, BMS makes it easier to integrate smart technologies for HVAC, lighting, security, and other systems. Comfort and productivity of occupants are important factors in commercial settings. The implementation of smart building technologies, such as lighting automation, climate control systems, and space utilization analytics, can enhance the comfort and productivity of work environments for tenants, customers, and employees. Green practices and sustainability are given top priority by many companies and owners of commercial real estate.
The Residential segment is anticipated to register rapid growth in the forecast period. The advantages of smart building technologies are coming to the attention of homeowners more often. Residential consumers are becoming more interested in and adopting smart home solutions due to their convenience, energy efficiency, and improved security. The affordability and accessibility of smart home devices can be attributed to technological advancements and heightened competition. A wider range of homeowners can now afford smart devices and systems due to their declining costs.
Regional Analysis
North America occupied the largest market share in 2022:
North America has the largest revenue market share of 40% in 2022, It is anticipated that the region's market will be driven by the real estate sector's expansion, favorable government regulations, growing environmental consciousness, and ongoing technological advancements in the goods offered by market participants. The retail, healthcare, entertainment, and industrial sectors are experiencing an increase in real estate prices, making it more challenging for these businesses to integrate multiple services during the planning, designing, and construction phases. Furthermore, BIM solutions are assisting these industries in offering superior customer service. It is also expected that improvements in several services, including integrated model data with O&M, spatial coordination, and the pre-fabrication process, will propel the market in North America.
On the other hand, Asia Pacific accounted for a significant share over the forecast period, BIM technologies are growing quickly because of this region's thriving building industry. The building information modeling market in this region is anticipated to grow as a result of the expansion of the retail industry and the development of new infrastructure. Several Asian governments are working on laws requiring the use of BIM in building projects. For instance, the use of BIM in public buildings is required in South Korea, Singapore, and Japan. Furthermore, Nemetschek AG and the Singapore Institute of Architects (SIA) have inked a three-year agreement to raise awareness of BIM software and advance architectural knowledge in Singapore.
List of the prominent players in the Building Information Modeling Market:
- Autodesk Inc.
- Trimble, Inc.
- Beck Technology Ltd.
- Dassault Systems
- HEXAGON AB
- AVEVA Group PLC.
- Pentagon Solutions Ltd.
- Nemetschek Group
- Asite Solutions Ltd.
- Bentley Systems
- Incorporated
Segmentation Analysis of the Building Information Modeling Market
By Component
- Solution
- Services
- Pre-Construction
- Constructions
- Post-Construction
- Commercial
- Residential
- Industrial
- Architect and Engineers
- Facility or Construction Managers
- Builders and Contractors
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Impact of the COVID-19 Pandemic on the Building Information Modeling Market:
The building and construction sector has been severely impacted by the COVID-19 pandemic. The outbreak has put the dispersed and unorganized infrastructure and construction sector under tremendous strain. Disturbances in labor, supplies, equipment, plants, machinery, and building projects during the lockdown are probably going to offset the growth that was anticipated. Furthermore, industry growth is probably going to be impacted by rising construction costs as well as professional and skilled labor fees. On the other hand, the pandemic has brought about a change in favor of remote work settings. For example, designers and structural engineers can now map future projects remotely thanks to digital collaboration tools and software. It is anticipated that this will propel the software market's expansion. Additionally, engineers and builders can manage projects, contracts with customers, sales, and other operations remotely by utilizing the software. Many builders and owners believe that now is a great time to provide foundation classes with digital tools and upskill laborers to increase efficiency. During the crisis, software providers are also assisting contractors and builders in realizing the full benefits of these solutions.
