Global building information modeling market is expected to reach USD 10.36 billion by 2022, growing at a CAGR of 9.45% between 2017 and 2022.
The report covers forecast and analysis for the building information modeling (BIM) market on a global and regional level. The study provides historic data of 2014-2016 along with a forecast from 2017 to 2022 based on revenue (USD Billion). The study includes drivers and restraints for the building information modeling market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the building information modeling market on a global level.
This report offers comprehensive coverage on global building information modeling market along with, market trends, drivers, and restraints of the building information modeling market. This report included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the building information modeling market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.
The study provides a decisive view on the building information modeling market by segmenting the market-based on the solution, end user, vertical and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. By solution, the market is segmented into solution and services. End users of the BIM are architects, contractors, engineers, and others. Vertical wise the BIM market is segmented into commercial, residential, infrastructure institutional industrial. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global building information modeling market include Nemetschek AG., Autodesk, Inc., Pentagon Solutions Ltd., Beck End-user, Ltd., Trimble Navigation Ltd., Synchro Software Ltd., Bentley Systems, Inc., AECOM, Dassault Systemes SA, and Asite Solutions Limited., among others.
The report segments global building information modeling market as follows:
Global Building Information Modeling Market: Solution Segment Analysis
Global Building Information Modeling Market: End-user Segment Analysis
Global Building Information Modeling Market: Vertical Segment Analysis
Global Building Information Modeling Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Building Information Modeling (BIM) market. Zion Research has collected and analyzed key data belong to the global Building Information Modeling (BIM) market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Building Information Modeling (BIM) across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Building Information Modeling (BIM) industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Building Information Modeling (BIM) market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Building Information Modeling (BIM) is an intelligent 3D model-based process that gives architecture, engineering, and construction professionals insight to more efficiently plan, design, construct and manage buildings or infrastructure. Different benefits offer by this modeling technique is giving traction to the BIM market. The major benefit of BIM is that it can be accessed by multiple users from a different location on the same document. Conventional building design largely relies upon two-dimensional technical drawings. Building information modeling extends this beyond 3D, augmenting the three primary spatial dimensions with time as the fourth dimension (4D) and cost as the fifth (5D). It covers spatial relationships, geographic information, light analysis, and quantities and properties of building components.
Due to the lucrative advantage of this model, building information modeling market is growing rapidly in different end user sectors. Some other advantages of BIM include increase return on investment, time and money saving. Increasing number of construction activities globally and growing awareness about this model is impelling the growth of this market. However, the high cost required for the execution of all processes in BIM is restraining the growth of this market. In addition, it requires long training period and technical skills which are hindering the growth of this market. Nonetheless, government mandates regarding the use of this model will boost its adoption over the forecast period.
Building information modeling market is segmented on the basis of the solution and vertical. By solution, the market is segmented into software and services. Software held the largest share of BIM market due to high benefits for design modeling software for various construction projects. By end-users market is divided into architects, contractors, engineers, and others. Due to the rapidly increasing number of construction projects, architect segments will continue to lead the market in coming years. Different verticals analyzed in this market study are commercial, residential, infrastructure, institutional and industrial. Industrial segment is expected to show significant growth over the forecast period due to the reduced risk associated with a construction project in the industrial sector.
North America held the largest share in BIM market owing to increasing adoption of cloud based engineering software for constructions. Several European countries are pushing for more integrated adoption of BIM strategies in order to improve software interoperability and cooperation among actors of the building industry. Asia Pacific region is expected to record highest CAGR in coming years due to rise in construction projects in the industrial sector in economically emerging countries such as China, Japan, and India. Europe is expected to hold second largest share due to rising usage of BIM in civil infrastructure, industrial and others. Latin America and Middle East & Africa are also expected to exhibit considerable growth due to governments mandate in several countries.
Key players operating in global building information modeling market are Autodesk, Inc., Beck Technology, Ltd., Nemetschek AG., Trimble Navigation Ltd., Synchro Software Ltd., Pentagon Solutions Ltd., Bentley Systems, Inc., AECOM, Asite Solutions Limited., and Dassault Systemes SA, among others.
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