Building Information Modelling Market
Building Information Modeling (BIM) is a process supported by various tools, technologies, and contracts involving the generation and management of digital representations of physical and functional characteristics of places. BIM is commonly used in the architecture, engineering, and construction (AEC) industry to improve collaboration, communication, and decision-making throughout a building's lifecycle, from planning and design to construction, operations, and maintenance. BIM helps project teams to create, manage, and share information about a project more effectively, leading to increased efficiency, reduced risk, and improved quality. BIM can also assist in predicting performance, reducing errors and rework, and facilitating the integration of various systems and requirements.
Building Information Modelling Market Share was valued at USD 7.26 billion in 2021. The Building Information Modelling (BIM) market industry is projected to grow from USD 8.41 billion in 2022 to USD 25.61 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.9% during the forecast period (2022 - 2030). The growing number of government mandates and policies for the adoption of rapid urbanization and growing digitalization in the construction industry are some of the key drivers of the BIM market growth.
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Regional analysis
Because of the consistently rapid pace of technical progress, the BIM market size is dominated by North America. in terms of items provided by market participants, policies promoted by the government, and an overall rise in market activity.
awareness of the environment, and expansion in the real estate market As a result of an increase in retail real estate rates, In the areas of healthcare, entertainment, and manufacturing, these companies are having a hard time staying competitive.
During the process of planning, designing, and building, combine a number of different types of services. However, As a result of the increasing demand for, Asia-Pacific is anticipated to have the largest growth over the period of analysis.
Because of the thriving building industry in this region, BIM technologies have gained significant traction here. Surge in It is anticipated that the retail industry, in addition to the development of infrastructure in the region, would play a crucial role in the a number of reasons that are helping to propel the building information modelling market forward.
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Market segmentation
When broken down by component, the solution market was the most important part of the entire building information market. modelling industry in 2019, and it is anticipated that this trend will continue throughout the projection year.
This is the due to a rise in the AEC's usage of various building information modelling solutions industry.
The majority of these companies have already begun using these solutions in order to harmonise all of their Bringing combining several building processes, such as procurement and data management, helps to increase the overall construction projects' total rate of production.
The expansion of the market is due to growing worries about the security of very valuable data related to building projects. For its clients in the commercial, healthcare, and residential sectors, larger AC companies like Autodesk Inc. and Nemetschek AG provide on-premise software.
However, the cloud sector is anticipated to develop at the fastest rate in the coming years since mid-sized institutions are most likely to favour cloud-based building information modelling solutions because they are minimal maintenance and do not require any capital expenditures. Growth in the market is primarily driven by an increase in the usage of cloud-based building information modelling solutions among big and mid-sized businesses.
Key Players:
Autodesk INC., ASITE SOLUTIONS, AVEVA GROUP PLC, BECK TECHNOLOGY LTD., BENTLEY SYSTEMS, INCORPORATED, DASSAULT SYSTEMES, HEXAGON AB, NEMETSCHEK SE, PENTAGON SOLUTION LTD., TRIMBLE LTD.
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