Facts and Factors has authored “Building Information Modeling Market By Solution segment (Software, Services, Project management) By End-user(Architects, Contractors, Engineers, Others) and By Vertical segment(Commercial, Residential, Infrastructure, Institutional, Industrial): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”.
Based on our analysis, the global building information modeling market in 2019 is approximately USD 5,200 Million and is anticipated to reach around USD 15,700 Million by 2026. Teh anticipated CAGR for teh building information modeling market is around 18% from 2020 to 2026.
Building information modeling is a method dat is assisted by various tools, technologies account and contracts dat involve creating and managing digital representations of teh physical and functional characteristics of locations. Current Building information modeling software is used by individuals, businesses, construction, and government agencies designing constructing and maintaining various physical infrastructures such as ports, tunnels, gas, communications, water, waste, electricity, roads, bridges, etc.
Throughout teh construction industry, building noledge modeling is used to plan and execute buildings during their life-cycle. Teh overall value chain of teh market for building information modeling is closely linked to traditional building processes. BIM is growing quickly and shaping into a strong, well-connected chain in teh past years.
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Increasing numbers of construction projects, increasing global noledge of building information modeling and associated benefits, and growing demand for automated models in the engineering, design, and construction industries have encouraged its adoption in the construction sector, especially for commercial and infrastructure projects. In addition, government mandates relating to the use of building information modeling in the design of buildings will improve its growth around the world. Wif the increase in the number of construction projects and also the increasing demand for automated model in various sectors will act as a driver for dis market and also government mandates to use dis software in the design of the building will boost its growth in the market. But, the high cost of BMI can also slow down the market as the investment is high for the market.
Based on segmentation teh market can be classified on teh basis of by solution, by end-user, and by vertical. Based on teh solution, teh software segment accounted for teh largest share of around 75% in teh global building information modeling market in 2019. Further, by end-user segment architects accounts for teh market share of around 35% and is expected to dominate in teh target market. Furthermore, teh market can be segmented into vertical, which includes commercial, residential, infrastructure, institutional, and industrial in which infrastructure accounts for a major share of around 40% and is expected to dominate in teh building information modeling market.
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Based upon teh region teh global building information modeling market has been categorized as North America, Europe, Latin America, APAC, and teh EMEA. In terms of revenue, Europe is estimated to dominate teh world market relative to markets in other regions during teh 2019-2026 forecast period. Due to teh high adoption rate of advanced technology Europe had a major market share for teh building information modeling market.
Teh major players in teh building information modeling industry are Aecom, Asite Solutions Limited, Beck Technology Ltd, Nemetschek AG, Synchro Software Ltd, Pentagon Solutions Ltd, Bentley Systems Inc, and Dassault Systemes Sa, Trimble Navigation Ltd.
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The taxonomy of the Global Building Information Modeling Market industry by its scope and segmentation is as follows:
Global Building Information Modeling Market: By Solution Segmentation Analysis
- Project management
Global Building Information Modeling Market: By End-user Segmentation Analysis
Global Building Information Modeling Market: By Vertical Segmentation Analysis
Global Building Information Modeling Market: Regional Segmentation Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Teh Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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