Global Building Information Modeling Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2027

Global Building Information Modeling (BIM) Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global BIM market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global BIM market report has been segmented on the basis of component, deployment type, end users, vertical, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the global BIM market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the global market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Building information modeling (BIM) is a digital illustration of physical and functional characteristics of a facility. BIM is widely used in architecture, engineering, and construction by skilled professionals to obtain insights of planning, designing, constructing, and managing buildings and infrastructure.

Dynamics:

Increasing adoption of software solutions in various industries is a key factor expected to drive growth of global BIM market over the forecast period. This can be attributed to various features offered by software tools such as to manage, execute and control all aspects business management process systematically. Rising adoption of software technology and new innovations development in construction industry is another key factor expected to support growth of the global BIM market, owing to various beneficial applications provided by BIM such as numerical automation and process simulation.

Increasing digitalization in various industries is expected to support penetration of BIM across the globe as BIM software provide digital strategic tools that offer various benefits such as improved productivity, improved infrastructure quality, better performance with cost-effectiveness. These factors are expected to support growth of the target market.

Furthermore, adoption of BIM helps in high productivity in construction, transportation and other business sectors by supporting to build assets with less expenditure. In addition, BIM offers systematic record keeping, thereby helping organizations in processes such as trade, and in development of advanced modeling services such as 3D/4D/5D.

Constantly increasing technological advancements by international, along with local players is expected to result in high adoption of BIM services among small and medium enterprises (SME’s), and large enterprises owing to features provided by BIM application such as, increase in transparency of construction performance, accurate material ordering, and optimized simulation of energy analysis.

However, lack of expertise required for implementation of BIM in various industries could restraint growth of the global market. In addition, stringent legal regulations, procurement, and policy barriers regarding collaborations and data sharing is a key factor expected to hinder growth of BIM market to a certain extent. Furthermore, increasing concerns related to cyber security and data violation across the globe is another factor expected to hamper growth of the global BIM market during the forecast period.

Analysis by region:

The North America market is expected to dominate the global BIM market in terms of revenue, owing to high adoption for advanced software technologies and well established research and development facilities of engineering and construction sectors in countries in the region. Market in Asia Pacific region is expected to witness fastest growth, owing to rising software service providers and increasing penetration of digital technology. In addition, increasing use of BIM model for enhancements and optimized solutions over legacy systems is another factor anticipated to propel growth of target market in Asia Pacific region. Furthermore, increasing need to restructure existing developments to minimize overall cost expenditure by using BIM tools is expected to support growth of the target market in Europe.

Global Building Information Modeling Market Segmentation:

Global market segmentation, by component:

• Software
• Services

Global market segmentation, by deployment type:

• On-premise
• Cloud-based

Global market segmentation, by end users:

• Construction Manager
• General contractor
• Architect
• Engineer
• Owner
• Others

Global market segmentation, by vertical:

• Commercial
• Residential
• Educational
• Healthcare
• Entertainment
• Industrial
• Infrastructure
• Institutional

Global market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa