Building Information Modeling (BIM) is a highly collaborative process that allows multiple stakeholders and AEC (Architecture, Engineering, and Construction) professionals to efficiently plan, design, construct, and manage buildings and infrastructure within one 3D model.
The software is used by constructors, individuals, businesses and government agencies to operate and maintain buildings and diverse physical infrastructures, such as water plants, electrical grids, gas stations, communication utilities, roads, railways, bridges, ports and tunnels. BIM software is becoming more crucial and event mandatory process to ensure the planning, design, and construction of buildings is highly efficient and collaborative.
The increasing government initiatives towards the development of smart cities would drive the market growth.
Impact of COVID-19 Pandemic Outbreak on Building Information Modeling (BIM) Software Market
The widespread impact of novel coronavirus pandemic is revealing a significant vulnerability in supply chains. Business process functions across most industries are severely disrupted due to the immense pressure of the pandemic crisis.
The COVID-19 pandemic is projected to trigger long-term and short-term impacts on the construction and building industry. As BIM software has become a mandate in the construction industry, it has transformed the industry totally into the digital world.
During the COVID-19 lockdown, BIM was more widely adopted in the industry, as BIM software enables construction projects to continue in a digital and virtual environment even when participants were unable to meet in person. This collaborative approach has effectively enabled construction professionals to share data across professional disciplines and businesses, and facilitates smarter construction.
The BIM software market has shown significant growth during the pandemic, and it is expected that the growth will increase by nearly 5% - 7% in Q1-Q3 2020. Also, over the period of time, as the world will gradually re-open after lockdown, it’s becoming increasingly clear that construction industry will look totally different after COVID-19.
Building Information Modeling (BIM) Software Market: - Market Dynamics
Government Initiative towards Making BIM Adoption as a Mandatory Process
Governments of various countries including India, Hong Kong, France, South Korea, UAE, Germany, Italy, and Spain are making BIM as a mandatory process for the design of large-scale complex infrastructure projects. In the UK, it is mandatory to submit building information modeling data to the government, so that it will be easy for the government to assess that submitted model data.
Germany is working to make BIM mandatory in all infrastructure projects by 2020 (it’s currently at 71% adoption), while Denmark, Spain and Italy reached 100%, 93% and 82% respectively. Moreover, In Singapore, the government provides BIM funds to promote a broader usage of BIM technology.
The use of BIM software helps to reduce project delays and cost overruns as part of the overall economic development. Thus, the growing initiative towards mandating BIM process across the globe would propel the market growth in the coming years.
Growing Number of Smart City Projects Worldwide
Technology is affecting nearly every part of our lives. Even the cities and towns we live in are undergoing major changes to make our everyday lives better, more efficient, and more eco-friendly. Governments all across the globe are investing in smart city and running different initiatives for development of smart cities in each county.
BIM for smart cities- this is no more an option but a necessity. In any infrastructure project, various teams work together to plan, design and create the actual infrastructure. BIM facilitates collaboration and management of information and communication among teams involved in a construction project.
Implementing BIM enables architects to make informed design choices, and constructors minimize waste and complete their projects on time, saving on expenses incurred due to avoidable delays. Thus, governments are forcing constructors and engineers to adopt BIM for development of the successful smart city project.
Regional Overview: North America to Serve as the Largest Growth Contributor in the Building Information Modeling (BIM) Software Market
During the forecast period, the leading share in the international BIM market is predicted to be earned by North America. The key factors empowering the rise of the North America BIM market are the ballooning awareness about the advantages of BIM among contractors and constructors and steadfast residential and commercial constructions.
Industrial, civil infrastructure, and building applications in the international BIM market could showcase dominance while helping Europe to grab a larger share following North America.
Asia Pacific is the fastest growing market among others due to the large number of construction and infrastructure projects being undertaken in the developing countries with the growth of economies and to provide essential utilities like water and electricity through construction of dams and power plants. The focus on development of rural regions coupled with the growth of population in Asia Pacific region makes it the highest growing segment.
Building Information Modeling (BIM) Software Market: - Key Players
Key players in the BIM software market are focusing on product innovation and strategic partnerships with the regional vendors to collaborate for offering advanced BIM software to effectively manage digital podcasts. The major players offering BIM software include
- Bentley Systems
- Dassault Systèmes
- Rib Software
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global BIM software market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with BIM software market attractiveness as per segments. The report on BIM software market also maps the qualitative impact of various factors on BIM software market segments and geographies.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia Pacific)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
Building Information Modeling (BIM) Software Market- Report Highlights:
- A detailed overview of parent market of BIM software market
- Changing BIM software market dynamics in the industry
- In-depth segmentation of the BIM software market
- Historical, current, and projected BIM software market size by value
- Recent industry trends and developments in BIM software market
- Competitive landscape of the BIM software market
- Strategies for key players in BIM software and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on BIM software market performance
- Must-have information for BIM software market players to sustain and enhance their market footprint
Building Information Modeling (BIM) Software Market: - Segmentation
By Component :
- Building Information Modeling (BIM) Software
- Consulting Services
- Project Management and Education
- Support and Maintenance
By Application :
- Civil Infrastructure
- Energy and Utilities
By End User :
- AEC Professionals
- Consultants & Facility Managers
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.