DUBLIN--(BUSINESS WIRE)--The "Building Information Modeling Market (BIM) with COVID-19 Impact Analysis by Type (Software, Services), Application (Buildings, Civil Infrastructure, Industrial), End-User (AEC, Contractors and Facility Managers), Project Lifecycle, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Building Information Modeling Market is projected to grow from USD 4.5 billion in 2020 to USD 8.8 billion by 2025, with a CAGR of 14.5%.
Rising urbanization and infrastructure projects drive the overall growth of building information modeling market
The building information modeling market is driven by various factors, such as rising urbanization and infrastructure projects, growing benefits offered by BIM for the AEC industry, and increasing government mandates for BIM adoption. However low digitization in the construction industry poses challenges to the BIM market.
Services to witness the highest CAGR during the forecast period
BIM services comprise services related to infrastructure modeling to architects, engineers, general contractors, and developers. In addition, BIM services include the provision of detailed engineering of a project, which helps in improving the quality of buildings, reducing their designing and maintaining costs, and sharing information more effectively among building owners, design teams, contractors, and facility managers.
The service segment is expected to grow at the fastest rate as it includes the detailed engineering of a project, which helps in improving the quality of buildings, reducing their designing and maintaining costs, and sharing information more effectively among building owners, design teams, contractors, and facility managers.
Based on applications, building is likely to be the fastest-growing application during 2020-2025
Due to rising trends in digitization across industries, BIM is gaining popularity in the construction industry. Building applications mainly includes commercial, residential, and retail buildings. Buildings are designed with the help of BIM mostly during the preconstruction phase, in which the 3D modeling of the structure is prepared and the flow of the entire building project is decided.
These buildings are constructed mostly on a customized basis. BIM is widely used in building applications to reduce the cost overrun and time overrun, which may help in reducing the delays in the project. With the help of various tools such as 3D modeling and clash detection, it helps efficiently plan, design, construct, and manage buildings.
APAC to record the highest growth rate in building information modeling market during the forecast period
APAC is likely to be the highest growing market for building information modeling market in the coming years. The market in APAC is expected to grow at the fastest rate due to the use of BIM for large-scale infrastructure and building projects. Government initiatives are expected to act as a major factor driving the BIM market in APAC. Governments have started imposing new regulations regarding building construction permit. Japan, China, and South Korea have already made BIM documents mandatory, especially for public buildings, along with green certification-related documents.
The building information modeling market comprises major players such Autodesk (US), Nemetschek (Germany), Bentley Systems (US), Trimble (US), Dassault Systemes (France), RIB (Germany), Asite (UK), AVEVA (UK), Hexagon (Sweden), and Archidata (Canada). The study includes an in-depth competitive analysis of these key players in the building information modeling market, with their company profiles, recent developments, and key market strategies.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 COVID-19 Impact on Building Information Modelling
4.1 Pre-COVID-19 Scenario
4.2 Post-COVID-19 Scenario
5 Premium Insights
5.1 Attractive Opportunities in BIM Market
5.2 BIM Market, by Project Life Cycle
5.3 BIM Market, by Application and Country
5.4 Country-wise BIM Market Growth Rate
6 Market Overview
6.1 Introduction
6.2 Market Dynamics
6.2.1 Drivers
6.2.1.1 Rapid Urbanization and Increase in Infrastructure Projects
6.2.1.2 Extensive Benefits Offered by BIM for AEC Industry
6.2.1.3 Strong Government Support by Making BIM Adoption Mandatory
6.2.2 Restraints
6.2.2.1 High Initial Cost of BIM
6.2.3 Opportunities
6.2.3.1 Growing Use of AR/VR Technologies and Surging Adoption of BIM to Design Green Buildings
6.2.3.2 Exciting Trend of Implementing IoT in Construction Projects
6.2.3.3 Increasing Trend of BIM
6.2.3.4 Growing Focus of Organizations to Introduce New Standards Such as ISO 19650 in BIM Market
6.2.4 Challenges
6.2.4.1 Low Level of Digitization in Construction Industry
7 Building Information Modeling Market, by Offering Type
7.1 Introduction
7.2 Software
7.3 Services
7.4 COVID-19 Impact on Building Information Modelling Market, by Type
8 Building Information Modeling Market, by Project Life Cycle
8.1 Introduction
8.2 Preconstruction
8.3 Construction
8.4 Operation
8.5 Impact of COVID-19 on Project Life Cycle of BIM
9 Building Information Modeling Market, by Application
9.1 Introduction
9.2 Buildings
9.3 Industrial
9.4 Civil Infrastructure
9.5 Oil & Gas
9.6 Utilities
9.7 Others
9.8 COVID-19 Impact on BIM Applications
10 Building Information Modeling Market, by End-user
10.1 Introduction
10.2 AEC Professionals
10.3 Consultants and Facility Managers
10.4 Others
10.5 COVID-19 Impact on BIM End-users
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 APAC
11.5 RoW
11.6 Region-wise COVID-19 Impact
12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.2.1 Product Launches
12.2.2 Agreements, Collaborations, Partnerships, and Contracts
12.2.3 Mergers and Acquisitions
12.2.4 Expansions
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Players
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Autodesk
13.2.2 Nemetschek
13.2.3 Bentley Systems
13.2.4 Trimble
13.2.5 Dassault Systemes
13.2.6 Rib Software
13.2.7 Asite
13.2.8 Aveva
13.2.9 Hexagon
13.2.10 Archidata
13.3 Other Key Players
13.3.1 Acca Software
13.3.2 Arcadiasoft
13.3.3 Procore Technologies
13.3.4 Concora
13.3.5 Pyry
13.3.6 Beck Technology
13.3.7 Computers & Structures
13.3.8 Robert McNeel & Associates
13.3.9 4M Company
13.3.10 CCT International
For more information about this report visit https://www.researchandmarkets.com/r/y6ycpu
