Building Information Modeling Market Set To Soar Past USD 17.59 Billion By 2030 | Skyquest Technology

(MENAFN- GlobeNewsWire - Nasdaq) Building Information Modeling (BIM) Market: Explore the industry's growth, with applications spanning oil and gas, power generation, chemical processing, automotive, construction, and more. Materials include fiberglass, mineral wool, polyurethane foam, cellulose, and others.

Westford, USA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global Building Information Modeling market size is expected to reach USD 17.59 billion by 2030 and exhibit a CAGR of 12.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for efficient project management and cost control in the construction and infrastructure sectors. BIM enables real-time collaboration among project stakeholders, streamlining workflows, reducing errors, and improving project outcomes is fueling the market's growth.

According to SkyQuest's latest global research of the Building Information Modeling market, increasing adoption of cloud-based BIM solutions facilitates remote collaboration and data accessibility across project teams. Integrating BIM with digital twin technology is gaining prominence, allowing for real-time monitoring and simulation of building performance throughout its lifecycle. BIM's expansion beyond traditional architecture and construction into facilities management (FM) is on the rise, enabling better building operation and maintenance are the trends that aid in the market's growth.

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Browse in-depth TOC on "Building Information Modeling Market"

• Pages - 157
• Tables - 176
• Figures -79

Building information modeling (BIM) is a process for creating and managing digital representations of physical and functional characteristics of places. It is used by architects, engineers, contractors, and other professionals to plan, design, construct, and operate buildings and infrastructure.

Prominent Players in Building Information Modeling Market

• Autodesk
• Bentley Systems
• Trimble
• Dassault Systèmes
• Graphisoft
• Nemetschek Group
• Vectorworks
• Tekla
• Hexagon AB
• RIB Software
• Solibri
• Viewpoint
• Procore
• PlanGrid
• Aconex
• BIM 360
• Autodesk Construction Cloud
• Trimble Connect
• Revizto
• Dalux
• BIMCollab
• Plannerly

Report Scope & Segmentation :

Attributes	Details
Forecast Period	2023-2030
Market Size in 2022	6.71 Billion
2030 Value Projection	17.59 Billion
CAGR	12.8%
Segments Covered	Component Software and services Application Commercial, residential, institutional, and industrial
Regions Covered	North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)

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Software Demand to Grow Substantially in the Forecast Period

Software dominates the global online market as it is the technological backbone that enables users to create, manage, and visualize building models, making it a fundamental requirement for BIM implementation.

Construction is the Leading Application Segment

In terms of application, construction is the leading segment as they often lead in driving BIM sales because BIM is extensively used for project design, planning, coordination, and execution. Construction professionals rely on BIM for 3D modeling, clash detection, scheduling, and cost estimation, among other tasks.

North America is the leading Market Due to the Technological Advancements

Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Government agencies in North America have promoted BIM adoption by mandating its use in public infrastructure projects. The U.S. General Services Administration (GSA) and various state agencies have embraced BIM to improve project efficiency and reduce costs.

A recent report thoroughly analyzes the major players operating within the Building Information Modeling market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Building Information Modeling.

Key Developments in Building Information Modeling Market

• Bentley Systems made an exciting announcement regarding its iTwin Platform. The company unveiled new capabilities that greatly expand the range and interoperability of infrastructure data available to engineering firms and owner-operators. These enhanced capabilities empower users to create and leverage digital twins in various workflows, including design, construction, and operations. The new iTwin Platform capabilities serve as the backbone for Bentley Infrastructure Cloud, a comprehensive suite of solutions that cover the entire infrastructure lifecycle and value chain. This includes renowned products like Prdata acquisition and processing solutions portfolioeamless integration and interoperability across different stages of infrastructure projects.

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Key Questions Answered in Building Information Modeling Market Report

• What specific growth drivers will impact the market during the forecast period?
• Can you list the top companies in the market and explain how they have achieved their positions of influence?
• In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?

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