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The global building information modeling market is anticipated to grow at a 12.7% CAGR during the forecast period 2021-2027 and will reach USD 11.3 billion by 2027. The technological development focuses on information management over cloud computers and inter-user coordination. Also, it reduces building and project management costs, enhances productivity, ease in project information discovery, and efficient planning coordination.
The initiatives by the government to promote the adoption of BIM technology, the growing number of infrastructure projects, rising adoption of software solutions in several industries, mounting digiatlization, and help users in creating precise geometric virtual model with all components and structures involved in building, thereby accelerating the growth of the building information modelling market,. Neverthless, the integration of technologies like AR and VR to ensure interoperability and increases the ability of AEC project teams in collaborating and communicating among industries will create promising opportunities for industry players in the global BIM market.
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The COVID-19 pandemic has had a massive impact on the building information modelling market owing lack of skilled labor force, disruption in supply chain , and delay in exports and imports. However, numerous digital technologies such as information analysis, monitoring, and management, as well as worker efforts to restrict information diffusion, had a positive impact on the Building Information Modeling Market Share. Another major element driving the rise of the Building Information Modeling Market Share was the installation of effective monitoring systems at building sites to ensure adherence to security rules and to prioritise the safety of workers.
The on-premise segment accounted for the largest share in the building information modelling market share, and this cycle will continue into the future. The rising concern about the security of valuable data associated with building projects is credited with the segment’s growth. Autodesk Inc. and Nemetschek AG offer on-premise software to their customers in the industrial, healthcare, and residential sectors.
North America dominates the building information modeling market owing to proactive government assistance to adopt modern technologies, the presence of prominent industry players, and is at the forefront in the adoption of developed digital systems in the infrastructure area.
In December 2021, Capgemini, a global leader in business and technology transformation, and Autodesk, Inc., a leader in 3D design, engineering, and entertainment software, have announced the signing of a global collaboration framework agreement that will allow them to collaborate on end-to-end Building Information Modeling (BIM) platforms and transformation programmes. Capgemini is the first Authorized Autodesk System Integrator, and it was instrumental in the program’s creation.
The prominent players in the building information modeling industry include Autodesk Inc., Nemetschek, Graphisoft, Asite, BENTLEY SYSTEMS, INCORPORATED, Dassault Systèmes, Hexagon AB, Trimble Inc., PENTAGON SOLUTIONS LTD, and AVEVA Group plc.
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