According to a new market report published by Lucintel, the future of the building information modeling market looks promising with opportunities in buildings, civil infrastructure, oil & gas, industrial, and utilities. The global building information modeling market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $9 billion by 2025 with a CAGR of 9% to 11% from 2019 to 2025. The major drivers for this market are rapid urbanization, growth in infrastructure projects, and increase adoption of BIM for plan, design, and manage building project efficiently.
In this market, BIM software and services are used in a wide range of industries for effective project lifecycle management. Software for building information modelling will remain the largest segment over the forecast period due to increasing demand in architecture, engineering, and construction (AEC) as it offers various benefits, such as interoperability between applications, easy visualization, and cost effectiveness.
Within the building information modeling market, buildings will remain the largest end use industry during the forecast period due to the increasing number of residential buildings and construction projects and increasing adoption of BIM modelling to reduce cost and delay by efficiently planning, designing, constructing and managing buildings.
North America will remain the largest region the forecast period due to wide adoption of BIM by architects, engineers, and consultants for planning, designing, and construction of residential and infrastructure projects and favorable government support for BIM modelling.
Emerging trends, which have a direct impact on the dynamics of the industry, includes development of Artificial Intelligent in BIM, Increasing demand for BIM based cloud collaboration, and emergence of modular construction and prefabrication. Bentley System, Autodesk, Nemetschek Group, Hexagon, RIB Software, EMGworks, Trimble, Dassault Systemes, Asite Solution, and Topcon are among the major building information modeling software and service providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global building information modeling market by offering, product lifecycle, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Building Information Modeling Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global building information modeling market by offering, product life cycle, end use industry, and region as follows:
By Offering [$M shipment analysis for 2014 – 2025]:
• Software
o Architectural Design
o Sustainability
o Structure
o MEP
o Construction
o Facility Management.
• Services
o Software Support and Maintenance
o Project Management and Support
By Product Lifecycle [$M shipment analysis for 2014 – 2025]:
• Preconstruction
• Construction
• Operations
By End Use Industry [$M shipment analysis for 2014 – 2025]:
• Residential and Commercial Buildings
• Industrial
• Civil Infrastructure
• Oil & Gas
• Utilities
• Others
By Region [$M shipment analysis for 2014 – 2025]:
• North America
o United States
o Canada
o Mexico
• Europe
o Germany
o United Kingdom
o Italy
• Asia Pacific
o China
o Japan
o India
• The Rest of the World
This more than 198-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at [email protected]. Lucintel offerings include Telecommunication Report, Telecommunication Market Report, Capital Investment Analysis, Due Diligence and Strategic Growth Consulting.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global building information modeling market by product life cycle (pre-construction, construction, and operation), offering (software and service), end use industry (buildings, civil infrastructure, industrial, utilities, oil & gas, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the building information modeling market?
Q.5 What are the business risks and threats to the building information modeling market?
Q.6 What are emerging trends in the building information modeling market and the reasons behind them?
Q.7 What are some changing demands of customers in the building information modeling market?
Q.8 What are the new developments in the building information modeling market? Which companies are leading these developments?
Q.9 Who are the major players in the building information modeling market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the building information modeling market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the building information modeling market?