The global building information modeling
market is projected to reach USD 18,911.8 million by 2030,
advancing at a CAGR of 11.9% during the forecast period.
This is mainly because of the huge populace
development and quick urbanization, which lead to the growing housing needs,
ultimately, resulting in the requirement for BIM. Furthermore, the government
expenditure in this sector and the enormous scale of construction underway in
emerging nations are boosting the development of this sector.
The industry is all set to showcase substantial
development in the years to come because of the growing urbanization levels
worldwide. As populaces and economies expand, the need for progressive
infrastructure is rising in both the commercial and residential sectors.
The development of the global building
information modeling market can also be associated with
the substantial growth in the emphasis on data sharing and study among all
stakeholders, which, ultimately, leads to better-quality collaboration and
improved output.
In 2022, the software category led the industry in
building information modeling solutions, with a revenue share of 60%. This is
primarily because of the presence of key players providing a huge variety of
functionalities and features in such software that are functioning throughout
the project lifecycle. They comprise sustainability, architecture, mechanical,
structure, plumbing, and electrical, and facility management.
In 2022, the pre-construction category generated the
largest revenue share of 40%. This can be credited to the various facilities
provided by BIMs, like conceptualization, visualization, cost planning,
programming, and architectural planning. The pre-construction stage includes
the making of structural and system designs, specification, analysis, and
coordination of different divisions.
Based on deployment, the on-premises category held
the larger share, and the category is projected to witness substantial growth
in the future as well. This is because of the existence of key companies in the
construction, architecture, and engineering software sector, like Nemetschek
and Autodesk, who offers on-premises solutions to clientele.
The greatest advantage of on-premises software is
that all the information is kept on computers or servers possessed by the
organization. This permits establishments to have total control over data flow.
Improved data security is also a benefit of on-premises deployment.
In 2022, North America dominated the industry with a
45% share, credited to its initial acceptance of improved digital tools and
government guidelines on authorizing the utilization of this software in
commercial infrastructure projects.
Furthermore, Europe is in the second position, and
it will witness substantial development in the coming few years. The
governments of nations like the U.K., France, and Germany have made it
essential to utilize BIM software in civil projects. The continent is also
house to many key IT businesses offering related software for cloud and
on-premises deployment.
