According to a new report Global Building Information Modeling Market, published by KBV research, The Global Building Information Modeling Market size is expected to reach $12.9 billion by 2026, rising at a market growth of 17.2% CAGR during the forecast period.
The cloud segment would showcase significant growth in the forthcoming years, as the cloud-based building information modeling solutions do not include capital cost and are less in maintenance needs, and therefore can be most preferred by mid-sized institutions. A surge in the adoption of cloud-based building information modeling solutions among both large and mid-sized enterprises significantly boosts the growth of the market.
Based on application, the planning & modelling segment emerged as the leading segment in the global building information modeling market in 2019 and would show a similar trend throughout the forecast years. This is due to a spur in a requirement for discovering and assessing constructability of project before it is developed; enhancement in cost reliability; visualization of construction processes through 4D simulation; and increasing demand in the construction industry to better forecast, handle and communicate project results boost the growth of the market.
North America is the dominating region of the overall BIM market due to the constant technological developments and products launched by players operating in the market, favorable government policies, high awareness about the environment, and the thriving real estate sector. With a surge in the rate of real estate in the entertainment, retail, healthcare, and industrial sectors, these sectors are struggling to incorporate multiple services during the process of planning, designing, and construction.
Europe held the second largest revenue share during the forecast period. Various countries have formulated guidelines that necessitate the implementation of BIM in public projects and these countries include the U.K., Germany, Sweden, and France. Moreover, the presence of some key players in the region would boost regional growth. Likewise, the Middle East and Africa would show a steady growth rate throughout the forecast period due to the quickly changing demand for next-generation construction and infrastructure. This would push the potential of the BIM market.
Full Report: https://www.kbvresearch.com/building-information-modeling-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Autodesk, Inc., Nemetschek Group, Bentley Systems, Inc., Trimble, Inc., Dassault Systemes SE, Hexagon AB, Schneider Electric SE, Asite limited, Archidata, Inc., and The Beck Group.
By Component
By Building Type
By Project Life Cycle
By Deployment Type
By Application
By End User
By Geography
Companies Profiled
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