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Building Information Modeling Market

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Building Information Modeling Market

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(/)

(/)Building Information Modeling Market


Published Date: Jun 2020 | Report Code: SE 2815

Building Information Modeling Market


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HOME (/) ❯ TOP MARKET REPORTS (/TOP-MARKET-REPORTS.ASP) ❯ BUILDING INFORMATION MODELING MARKET
7500+ COMPANIES WORLDWIDE APPROACH US EVERY YEAR FOR THEIR REVENUE GROWTH INITITATIVES

Building
KNOW MORE Information Modeling Market (BIM) with COVID-19 Impact
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Analysis by Type (Software, Services), Application (Buildings, Civil


Infrastructure, Industrial), End-User (AEC, Contractors and Facility
Managers), Project Lifecycle, and Region - Global Forecast to 2025
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Report Code: SE 2815Jun, 2020, by marketsandmarkets.com

DESCRIPTION

TABLE OF CONTENTS

METHODOLOGY

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[243 Pages Report] The building information modeling (BIM) market size is projected to grow from
USD 4.5 billion in 2020 to USD 8.8 billion by 2025, at a compound annual growth rate (CAGR) of
14.5%. Rising urbanization and infrastructure projects, growing benefits offered by BIM for the
AEC industry, and increasing government mandates for BIM adoption are among the factors
driving the growth of the BIM market.

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(/)

(/)Building Information Modeling Market


Published Date: Jun 2020 | Report Code: SE 2815

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Pre- and Post-COVID-19 Scenario for Building Information Modeling Market

The BIM market had witnessed a growing demand in the pre-COVID-19 scenario. As worldwide
population and economies grow, the increased need for housing and infrastructure development is
likely to fuel the growth of the global construction industry, thereby creating a strong demand for
BIM from construction professionals to plan, design, and manage building projects more efficiently.
Thus, the 3D model-based approach of BIM in delivering construction projects has been gaining
traction across the world. The architecture, engineering, and construction (AEC) industry consists
of architects, engineers, and contractors who work together to make a project successful. Rising
trends of advanced technologies have led to the growing adoption of innovative approaches in the
working standards of the construction industry. BIM is one such approach that provides benefits
such as visualization and collaboration, synchronization of design and construction planning,
conflict detection, and cost reduction. Although these factors will still contribute to the growth of the
BIM market, it will not reach its earlier forecast that was estimated to reach 9.5 billion in 2025, at a
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CAGR of 12.7% from 2020 to 2025.
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The outbreak of the COVID-19 virus in December 2019 has resulted in the rapid spread of this
disease to almost 100 countries across the world. The (/) World Health Organization has declared it a
public health emergency. COVID-19 is expected to have a negative impact on the overall BIM
(/)Building
market. Information
The Associated General Modeling
Contractors Market
of America (AGC) reports that at least 45% of
Published Date: Jun 2020 | Report Code: SE 2815
contractors are experiencing delays or disruptions due to the outbreak. These delays are due to
the shortages Search Inquiry Before
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industry. Additionally, some construction projects are being halted or delayed because of
asymptomatic workers as there would be a temporary shutdown if any employee is tested positive.
As the AEC professionals are the largest end users of the BIM software, which is used mainly in
the construction projects, a delay or cancellation of these projects would have an adverse impact
on the overall BIM market. The market is likely to recover gradually in the next 2 years and is
projected to reach 8.8 billion by 2025, at a CAGR of 14.5% from 2020 to 2025.

Market Dynamics:

Driver: Rapid urbanization and increase in infrastructure projects


According to the UN, the world's population will increase to 8.1 billion in 2025 and reach ~10 billion
by 2050. To address such a huge population, it is imperative for the AEC industry to provide smart
solutions to develop infrastructure for the future. As populations and economies grow, the need for
housing and infrastructure will fuel the growth of the global construction industry. With an increase
in construction, there will be a greater need for efficient ways of working. BIM gives architects,
engineers, and construction professionals the ability to plan, design, and manage building projects
more efficiently. Thus, 3D model-based approach of BIM in delivering construction projects is
gaining traction worldwide. As BIM is gaining popularity, it is creating an international framework
that can give an industry a proper direction and a rule-book to work with BIM.

Restraint: High initial cost of BIM


Although there are huge benefits and cost savings associated with BIM, the initial cost observed is
high. For instance, the cost of Autodesk’s Revit is ~USD 3,500–4,500. Apart from the software
cost, the cost of training and services is also high. Thus, the high initial cost associated with BIM
would restrain market growth.

Also, BIM software is promoted by various vendors by offering it for free or at a low price to
students for learning purposes. Apart from cost, BIM software programs require a long duration of
training. Despite these restraints, BIM software exhibits remarkable productivity, which, in turn,
helps a firm increase its efficiency rate by up to 25–30%. BIM also helps mitigate design failures
during construction, thereby saving time and resources.

Opportunity: Growing focus of organizations to introduce new standards such as ISO 19650
in BIM market
The International Organization for Standardization (ISO) published the BIM standards in January
2019. The new standards are "Part 1: Concepts and principles," and "Part 2: Delivery phase of the
assets" of ISO 19650 — "Organization and digitization of information about buildings and civil
engineering
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ISO, will provide the necessary framework to help designers and contractors from different
countries to collaborate more efficiently on all phases of (/)
construction projects and will encourage
BIM’s wider use. ISO 19650 is based on the British standard BS 1192 and the public standard PAS
(/)Building
1192-1, whichInformation
has helped users Modeling Market costs by 22% according to the ISO. The
reduce construction
Published Date: Jun 2020 | Report Code: SE 2815
organization also plans to develop and release additional standards, including Part 3, on managing
the operational
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After the release of such standards, various countries have made the use of BIM mandatory.
These standards are primarily used in commercial and infrastructure projects; however, these
standards are expected to be used widely for various applications, such as buildings,
infrastructure, and industrial, during the forecast period. Some authorities have already mandated
the use of BIM to some extent. From 2019, it has become mandatory for architects in Abu Dhabi
and the UAE to use BIM for all major projects. In addition, the UK, in an effort to achieve better
efficiencies in the maintenance of public projects, rolled out a Level 2 BIM mandate in 2016. All
construction stakeholders, including architects, engineers, material vendors, are required to
communicate via common file formats such as the Construction Operations Building Information
Exchange (COBie) or the Industry Foundation Class (IFC).

Challenge: Low level of digitization in construction industry


There is a lower level of digitization in the construction industry than in other industries. By
streamlining processes, efficiency up to 20% can be achieved through shorter construction times,
higher quality, and lower costs with the help of BIM. Many times, it is observed that large-scale
construction projects take a longer time to finish and go beyond the budget; this results in lower
financial returns for contractors. Furthermore, lower digitization hampers productivity as the
construction industry has been slow in adopting process and technology innovations. For instance,
project planning remains uncoordinated between office and field and is often done on paper,
performance management is inadequate, and supply-chain practices are still unsophisticated. The
industry has not yet embraced new digital technologies that need up-front investment, even if the
long-term benefits are significant. R&D spending in the construction industry runs way behind that
of other industries. The construction industry is lagging almost 15–20 years from different
industries such as automotive and ICT.

Software likely to account for a larger share of the building information modeling market by
2025
Many players are offering BIM based on software and services. The software used for BIM exhibits
features such as interoperability between applications, easy visualization, and cost-effectiveness.
The software generally encompasses solutions for objectives such as architecture, sustainability,
structures, MEP, construction, and facility management. The software segment holds the largest
share of the BIM market, by type and is dominated mainly by the architecture and construction
software.

Preconstruction to be the high impacting segment of the market

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BIM is a complete process from the preconstruction phase to the operations phase.
Preconstruction is the first phase. This phase consists (/) of visualization, conceptualization,
programming, cost planning, architectural, structural, systems design, analysis, detailing,
(/)Building Information
coordination, and specification. Modeling
As most of theMarketinformation about the project planning and
Published Date: Jun 2020 | Report Code: SE 2815
execution is provided in this phase, owners, contractors, architects, and engineers can easily
visualize
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clash detection and BIM co-ordination, and extraction of 2D drawings.
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Building application to account for the largest market share and to grow at the fastest rate
during the forecast period
BIM is widely used in building applications to reduce the cost overrun and time overrun, which may
help in reducing the delays in the project. With the help of various tools such as 3D modeling and
clash detection, it helps efficiently plan, design, construct and manage buildings. Buildings account
for a larger share of the BIM market compared with any other application because of the increasing
number of buildings or construction projects, along with business centers, shopping centers, and
retail shops. It is a step forward in leveraging BIM toward the innovative presentation of projects in
the form of informative and simulations models.

North America to hold the largest share in building information modeling market during the
forecast period

The market in North America is expected to hold the largest share due to the wide adoption of BIM
by architects, engineers, and consultants. The market in North America has been segmented into
the US, Canada, and Mexico and is led by companies such as Autodesk (US), Trimble (US),
AECOM (US), Archidata (Canada), and others. The US is expected to lead the North American
BIM market as it homes various tier 1 companies and is at the forefront in the adoption of
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advanced digital systems in the infrastructure domain. BIM software solutions, such as
architectural design and construction, are widely used by
(/) end users in North America for planning,
design, and construction of a particular construction facility.
(/)Building Information Modeling Market
APAC toDate:
Published witness
Jun 2020the highest
| Report CAGR
Code: SE 2815 in building information modeling market during the
forecast period
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APAC is one of the emerging and the fastest-growing market for BIM. The countries in this region
wherein BIM systems have a considerable market include China, Japan, India, and South Korea.
Being the largest emerging market in the world, APAC is expected to lead the construction
industry, accounting for a significant number of construction projects carried out worldwide.
Countries such as Japan, South Korea, Australia, and Singapore have made certain mandates for
the adoption of BIM, while countries such as China and India are expected to adopt BIM in coming
years. Governments have started imposing new regulations regarding the building construction
permit. Japan, China, South Korea, Australia, and Singapore have already made BIM documents
mandatory, especially for public buildings, along with green certification-related documents.

Key Market Players


include Autodesk (https://www.autodesk.com/), Nemetschek (https://www.nemetschek.com/),
Bentley Systems (https://www.bentley.com/en), Trimble (https://www.trimble.com/), Dassault
Systèmes (https://www.3ds.com/). RIB (https://www.rib-software.com/en/home) Software
(https://www.rib-software.com/en/home), ASITE (https://www.asite.com/en-us/), AVEVA
(https://www.aveva.com/en/Segments/Building_and_infrastructure/), and Hexagon
(https://hexagonppm.com/) are among the major players in the building information modeling
market.

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Please visit 360Quadrants to see the vendor listing of Building Design and Building Information
Modeling (BIM) Software (https://www.360quadrants.com/software/building-design-and-building-
(/)
information-modeling-bim-software)
(/)Building Information Modeling Market
Scope ofDate:
Published theJunReport
2020 | Report Code: SE 2815

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Market Size
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Base Year 2018

Forecast Period 2019–2024

Forecast Units Value (USD)

Segments Covered By offering type, project life cycle,


application, and end-user

Geographies Covered North America, Europe, APAC, and


RoW

Companies Covered Autodesk (https://www.autodesk.com/),


Nemetschek
(https://www.nemetschek.com/),
Bentley Systems
(https://www.bentley.com/en), Trimble
(https://www.trimble.com/), and
Dassault Systèmes
(https://www.3ds.com/).
A total of 20 players are covered.

This research report categorizes the building information modeling market, by offering type, project
life cycle, application, end-user, and region

Based on offering type, the building information modeling market has been classified into
the following segments:
Software
Architectural Design
Sustainability
Structure
MEP
Construction
Facility Management.
Services
Software Support and Maintenance
Project Management and Support.

Based on the project life cycle, the building information modeling market has been
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segments: X
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Preconstruction
Construction (/)
Operations
(/)Building Information Modeling Market
Based on
Published the
Date: Junapplications,
2020 | Report Code:the building information modeling market has been classified
SE 2815
into the following segments:
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Buildings
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Industrial  Request Sample (/requestsampleNew.asp?id=95037387)
Civil Infrastructure
Oil & Gas
Utilities
Others

Based on the end-user, the building information modeling market has been classified into
the following segments:
AEC Professionals
Consultants and Facility Managers
Others

Based on regions, the building information modeling market has been classified into the
following:
North America
Europe
APAC
RoW (South America, Middle East & Africa)

Recent Developments
In June 2020, Bentley Systems acquired NoteVault (US), a provider of voice-based field
automation for construction management. The acquisition expanded Bentley’s SYNCHRO
digital construction environment with mobile field applications to track and manage labor,
materials, and equipment.
In May 2020, Autodesk launched the upgraded version of the Autodesk Construction Cloud
software with the release of a new platform called Autodesk Construction Cloud Connect.
The upgraded version has several new application programming interfaces APIs, enabling
custom connections for BIM 360 and PlanGrid, as well as 15 new native integrations. Thus,
the total number of directly integrated platforms in the Autodesk Construction Cloud
ecosystem is more than 140.
In May 2020, Nemetschek’s subsidiary—ALLPLAN—partnered with Scalypso, a laser
scanning specialist, to make point cloud-based working accessible to a wide range of users
in a simple and practical form. As part of the partnership, a plug-in was developed, which is
available in the current ALLPLAN 2020 version.
In March 2020, Trimble launched the Tekla 2020 BIM software solution for advanced BIM,
structural engineering, and steel fabrication management..
In June 2019, Dassault Systèmes and SuperMap Software Co., Ltd (China), a geographic
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information system (GIS) software and services company, have entered into a partnership
(https://www.marketsandmarkets.com/Privacy-12.html).
agreement to engage in platform-driven projects for construction, cities, and territories in
global markets by combining their respective expertise
(/) and creating new guidelines for
information exchange in these domains. With this partnership, Dassault Systèmes is looking
(/)Building
forward Information
to advancing theModeling Market
use of big data and artificial intelligence for BIM in China.
Published Date: Jun 2020 | Report Code: SE 2815

Frequently Asked Questions (FAQ):


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Which applications are expected to drive the growth of the market in the next 5 years? 

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Building


Information Modeling Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Building Information Modeling
Market

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REPORT CODE
SE 2815

PUBLISHED ON
JUN, 2020

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CHOOSE LICENSE TYPE (/)
Single User - $4950
(/)Building Information Modeling Market
Corporate
Published Date: JunLicense - $8150
2020 | Report Code: SE 2815

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