Building Information Management (BIM) Market Growth Forecasted At 13% CAGR, US$ 29,087.1 Million By 2034 | FMI

(MENAFN- GlobeNewsWire - Nasdaq) Australia's Building Information Management (BIM) Market is booming with a 16.50% CAGR, driven by infrastructure projects like residential developments and transportation.

NEWARK, Del, April 04, 2024 (GLOBE NEWSWIRE) -- The building information management (BIM) market is estimated to be worth US$ 8,591.7 million in 2024 and is projected to be valued at US$ 29,087.1 million in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 13% .

Building information management is becoming increasingly essential as businesses look to maximize resources and streamline operations. Effective stakeholder engagement during the building process is made possible by building information management, which eventually reduces errors, improves project coordination, and saves money.

To increase sustainability, cut waste, and increase efficiency, many governments worldwide require building information management services in public infrastructure projects. The adoption of building information management in the construction industry is driven by compliance with rules like these.

Request for a Sample of this Research Report

The capabilities of building information management software are being improved by ongoing technological breakthroughs like cloud computing, artificial intelligence, and the Internet of Things (IoT). Integrating these technologies makes more advanced analysis, visualization, and simulation possible, encouraging more users to embrace BIM solutions.

Growing environmental concerns have led to an increased emphasis on sustainable construction methods. In line with the industry's sustainability objectives, Building information management provides tools for energy analysis, material optimization, and lifetime evaluation, facilitating sustainable design, construction, and operation.

Key Takeaways from the Building Information Management (BIM) Market Report:

• From 2019 to 2023, the building information management market expanded at a CAGR of 10.8%.
• Based on the application, the commercial segment is expected to account for a market share of 39.2% in 2024.
• The demand for building information management in Germany is predicted to grow at a CAGR of 8.40% through 2034.
• In the United States, the refurbished appliance industry is estimated to register a CAGR of 9.80% from 2024 to 2034.
• China is projected to expand by a CAGR of 13.50% between 2024 and 2034.
• The building information management market in Australia is anticipated to record a CAGR of 16.50% during 2034.

"Our latest market research study delves into the dynamic landscape of the Building Information Management (BIM) Market, revealing robust growth propelled by increasing adoption across construction and infrastructure sectors. With advancements in technology and a growing emphasis on efficient project management, the BIM market is poised for substantial expansion in the coming years." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Scope of Report:

Attributes	Details
Estimated Market Size in 2024	US$ 8,591.7 million
Projected Market Valuation in 2034	US$ 29,087 million
Value-based CAGR 2024 to 2034	13 %
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East and Africa
Key Market Segments Covered	Solution End-use Application Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Autodesk Inc. Trimble Solutions Corporation Graphisoft (Nemetschek Group) BIMobject Elecosoft RIB Software SE Dassault Systèmes DataCAD LLC Bentley Systems Procore Technologies Bricsys NV Vizerra SA Cadmatic Oy ArCADiasoft ACCA software Kreo

Request Methodology:

Competitive Landscape:

Market players are collaborating with other companies, including technology partners, construction firms, architecture firms, and engineering consultants, helping expand the reach of BIM solutions and providing comprehensive services to clients.

• Software provider DataCAD LLC focuses on offering drafting and architectural design software. DataCAD is the company's main product, a potent and user-friendly CAD (Computer-Aided Design) program designed especially for architects, engineers, and construction industry experts.
• Software firm Bricsys NV is well-known for its main offering, BricsCAD. BricsCAD is an advanced Computer-Aided Design (CAD) program with the ability to design in two dimensions, model in three dimensions, and create building information models (BIMs). BricsCAD is well-known for its extensive feature set, easy-to-use interface, and compatibility with industry-standard file formats like DWG.

More Valuable Insights Available

Future Market Insights offers an unbiased global building information management market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand opportunities in the building information management industry, the industry is segmented based on solutions (software, services), end users (civil engineers, architects & consultants, construction supervisors, and building contractors), applications (residential, commercial, industrial, and government) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).

Lead With Data-Driven Decisions. Buy Now To Turn Insights Into Competitive

Building Information Management (BIM) Market Segmentation:

By Solution:

• Software
• Services
  • Structural Design & Modeling Services
  • Project Consulting
  • Support & Maintenance
    

By End User:

• Civil Engineers
• Architects & Consultants
• Construction Supervisors
• Building Contractors

By Application:

• Residential
• Commercial
• Industrial
• Government

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa
  

Authored By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the 'Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.

Have a Look at the Related Reports of the Technology Domain:

• Advanced Distribution Management Systems Market Scope : The market is slated to increase at a CAGR of 20.0% to reach a valuation of US$ 12,102.0 Million by 2029
• Telecom Order Management Market Growth : With 7.9% projected growth from 2022 to 2032, the market is expected to reach a valuation of US$ 6.6 Bn by 2032.
• Content Delivery Network (CDN) Market Share : Analysts predict a CAGR of 15.6% for the global market, propelling its value to a remarkable US$ 51.89 billion by 2034.
• Legal Services Market Overview : The global market is predicted to increase at a 4.6% CAGR during the forecast period from 2022 to 2032 to attain a value pool of US$ 627.12 Billion by the end of 2032.
• Employee Engagement Market Demand : The market is anticipated to reach US$ 3,603.9 Million by 2034 at a CAGR of 16.2% during the forecast period 2024 to 2034.
• Project Management Software Market Size : The market is anticipated to reach US$ 25,306.7 Million by 2034 at a CAGR of 12.9% from 2024 to 2034.
• Banking-as-a-Service (BaaS) Platform Market Outlook : The global market is eventually expected to reach a valuation of US$ 16,715.3 million at a CAGR of 16.2%
• Salesforce Services Market Trends : The market is predicted to rise at a staggering CAGR of 15.6% from 2024 to 2034 and is anticipated to reach US$ 73.29 billion by 2034.
• In-building Wireless Market Analysis : Potential CAGR could reach up to 6.30% through 2034 also the analysis indicates that sales of in-building wireless are currently valued at US$ 14.77 billion in 2024.
• Building Energy Management Solutions Market Forecast : The market is expected to grow at a CAGR of 12.5% during the period 2022 to 2032 and is expected to reach a valuation of US$ 15.2 billion by 2032.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: ...
Website:
LinkedIn | Twitter | Blogs | YouTube

MENAFN04042024004107003653ID1108059936