Building Information Management (BIM) Market on an Ascendant Trajectory, Forecasted at 13.2% CAGR to Hit US$ 23.7 Billion by 2032

The building information management (BIM) market is poised for remarkable growth, with projections indicating that it will soar to approximately US$ 23,660.9 million by the year 2032. This surge is driven by the increasing adoption of BIM technologies across the construction and infrastructure sectors. BIM, a comprehensive digital representation of building processes and assets, has revolutionized the construction industry, offering enhanced efficiency, collaboration, and data-driven decision-making.

The (CAGR) of 13.2% further underscores the industry’s momentum, with BIM becoming an indispensable tool for architects, engineers, contractors, and project managers in streamlining design, construction, and operational phases, ultimately reducing costs and improving project outcomes. As the construction world embraces the advantages of BIM, the market is set to continue its robust expansion in the coming years.

Request a Sample Report for Comprehensive Insights
https://www.futuremarketinsights.com/reports/sample/rep-gb-12847

Creating advancement practices in the private and business regions should uphold the premium for BIM courses of action. Likewise, with government support across various countries, public and private makers have been doing the item to drive utilitarian adequacy.

Specialized enhancements that empower information organization at distant servers and between client coordination are reinforcing the reception of building information management arrangement and programming. Aside from this, there is a flood in BIM utilization because of its different benefits over contemporary devices of the same class, for example, paper-based plan, demonstrating, and PC-helped plan (CAD) frameworks.

Factors such as the growing trend of the Internet of Things (IoT), rigorous government rules regarding the use of BIM software, and improved construction productivity are also fueling the market expansion.

However, the market is facing a fall in BIM software sales as a result of the increasing number of COVID-19 cases, the resulting stop in building projects globally, and lockdowns enacted by several nations. The market is projected to increase if normalcy is restored.

Key Takeaways from the Building Information Management (BIM) Market Report:

  • By solution, the BIM software segment is predicted to lead the worldwide demand for building information management, exhibiting a CAGR of 13.7% during the forecast period, followed by the services segment.
  • By end users, the architects and consultants’ category is dominating, registering a CAGR of nearly 14.8% between 2022 and 2032.
  • By application, the demand for BIM systems is expected to rise more rapidly in the commercial sector than in the residential sector throughout the projected period.
  • By geography, North America presently has the largest market share of roughly 30.3% in the BIM industry in 2021, however, the South Asia & Pacific region has the highest growth rate of around 15.4% through the period of 2022-2032.

Rise in Prefabrication to Fuel the Demand:
Buildings or building components are built offsite by construction teams and then transported to the construction site once completed. Prefab is considered to be more efficient and faster than onsite construction.

BIM software facilitates prefabrication by detailing the materials and design of a building and its components making it easier to plan the resources as well as schedule assembly. Building information management creates highly detailed models in a fabrication-level 3D file format that may be directly triggered by Computer-Aided Manufacturing (CAM) equipment.

The components are then created by these machines with great precision, accuracy, and quality. These factors are expected to majorly contribute to the growth of the building information management market in the coming years.

Optimizing the Processes Interaction through Systematic Digitalization to Help the BIM Market Create a Strong Footprint:
Digitalization in the construction sector remains weak. Catchup effects and increasing investment in industry-specific software solutions that control processes more efficiently and reduce costs and time expenditure are creating demand for BIM solutions.

By decreasing building time, increasing quality, and cutting costs, optimizing the interaction of all processes will provide the industry a more than 20% gain in efficiency.

Thanks to the world’s leading building information management approach, many aspects of this change may already be accomplished efficiently utilizing current technology. These factors are projected to further accelerate the market growth shortly.

Leading Key Players:

  • Autodesk Inc.
  • Trimble Solutions Corporation
  • Graphisoft (Nemetschek Group)
  • BIMobject
  • Elecosoft
  • RIB Software SE
  • Dassault Systèmes
  • DataCAD LLC
  • Bentley Systems
  • Procore Technologies
  • Bricsys NV
  • Vizerra SA
  • Cadmatic Oy
  • ArCADiasoft
  • ACCA software
  • Kreo

Lead With Data-Driven Decisions. Buy Now To Turn Insights Into Competitive
https://www.futuremarketinsights.com/checkout/12847

Building Information Management (BIM) Market Segmentation:

By Solution:

  • Software
  • Services
    • Structural Design & Modeling Services
    • Project Consulting
    • Support & Maintenance

By End User:

  • Civil Engineers
  • Architects & Consultants
  • Construction Supervisors
  • Building Contractors

By Application:

  • Residential
  • Commercial
  • Industrial
  • Government

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these