(MENAFN- EIN Presswire)
Building Information Modeling market Size
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 28, 2024 /EINPresswire / -- According to the report, the global building information modeling
industry size generated $7.9 billion in 2022, and is anticipated to generate $34.2 billion by 2032, witnessing a CAGR of 16% from 2023 to 2032.
🔰 Download Sample Pages -
Buidling Information Modeling (BIM) deals with the ability to create and manage digital representations of location's functional and physical attributes. Different technologies, tools and contracts support BIM. People use BIM computer files to manage buildings and various physical infrastructures, such as water, garbage, electricity, gas, communication utilities, roads, railroads, bridges, ports, and tunnels. Moreover, government and other businesses also use BIM software. BIM is a collabrative process that combines information. The goal of BIM is to improve the design, construction and the operation of infrastructure buildings.
Leading Market Players: -
Aveva Group Plc.
Hexagon AB
Trimble Inc.
Autodesk Inc.
Beck Technolgy Ltd.
Pentagon Solution Ltd.
Nemetschek SE
Bentley Systems Inc.
Dassault Systemes
Asite Solutions Ltd.
Prime determinants of growth
The key factors such as government mandating for building information modeling usage (BIM) and the increasing adoption of digital technology by construction sector are driving the building information modeling market growth. Furthermore, increase in initial expenditure on BIM technology is expected to hamper the building information modeling market growth during the forecast period . Moreover, the emergence of virtual reality (VR) and augmented reality (AR) technologies and their integration with BIM is expected to provide an opportunity for the building information modeling market growth during the forecast period.
Procure Complete Research Report Now: /purchase-options
The solution segment to maintain its leadership status during the forecast period
By component, the solution segment dominated the building information modeling market in 2022. This is attributed to the increasing number of BIM solutions provided by various software companies across the globe. However, the service segment is expected to attain growth during the forecast period with a CAGR of 17.9% from 2022 to 2032. This is attributed to the fact that large number of service organizations are growing at an increasing rate on a global scale.
The on-premise segment to maintain its leadership status during the forecast period
By deployment mode, the on-premise segment dominated the market in 2022. This is attributed to the fact that on premise building information modeling technology is preferred as it provides complete control to the organization to monitor the BIM process. However, the cloud segment is expected to grow during the forecast period at a CAGR of 17.4% from 2022 to 2032. This is attributed to the growing flexibility and reduced cost advantages provided by cloud technology.
The commercial segment to maintain its lead position during the forecast period
By building type, the commercial segment dominated the building information modeling market in 2022, owing to increase in demand for better planning and design requirement to build an enhanced infrastructure from commercial segment. However, the residential segment is expected to grow during the forecast period with a CAGR of 12.1% from 2022 to 2032. This is attributed to the growing demand from consumers to buy high quality complexes with better design and space in the residential sector.
The planning and modelling segment to maintain its lead position during the forecast period
By application, the planning and modeling segment dominated the market in 2022. This is attributed to the fact that BIM plays a major role in planning and modelling of building projects before the initiation and makes it convenient for the engineers and architects to control the whole process through flexiblity. However, the building system analysis and maintenance scheduling segment is expected grow during the forecast period at a CAGR of 19.3% from 2022 to 2032. This is attributed to growing demand for the analysis and maintenance feature provided by BIM software.
Interested to Procure the Research Report? Inquire Before Buying -
The architects/engineers segment to maintain its lead position during the forecast period
By end-user, the architect/engineer segment dominated the market in 2022. This is attributed to increasing use of BIM software by engineers /architects to develop infrastructures. However, the others segment is expected grow during the forecast period at a CAGR of 17.2% from 2022 to 2032. This is attributed to the growing demand by construction companies and facility managers for BIM software.
North America to maintain its dominance by 2032
Region-wise, North America dominated the market in 2022, owing to the presence of large volume of BIM software providers in the region. However, Asia-Pacific is expected to grow during the forecast period at a CAGR of 19.1%, due to the growing construction activities in the region.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN28102024003118003196ID1108823712
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.