In 2021, the global revenue in the building information management market reached approximately US$ 6,098.1 Million. Anticipated growth is significant, with the market projected to achieve around US$ 23,660.9 Million by 2032, reflecting a robust CAGR of 13.2% from 2022 to 2032.
Currently, the building information management sector constitutes roughly 9% of the total sales within the smart buildings solution market. Several factors are contributing to this growth, including rapid urbanization, a surge in infrastructure projects, increasing awareness about the benefits of building information modeling, and the proliferation of smart city initiatives worldwide.
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Driving Factors and Challenges in the Adoption of Building Information Management (BIM) Solutions
Specialized enhancements that facilitate remote server-based information organization and seamless client collaboration are bolstering the adoption of building information management solutions and software. Additionally, BIM’s myriad advantages over traditional tools such as paper-based design, modeling, and computer-aided design (CAD) systems are contributing to its increasing utilization.
The market expansion is further propelled by factors like the rising Internet of Things (IoT) trend, stringent government regulations mandating the use of BIM software, and enhanced construction productivity.
Nevertheless, the market has faced a setback in BIM software sales due to the global surge in COVID-19 cases, resulting in halted building projects and lockdowns imposed by various countries. The market’s recovery is anticipated upon the restoration of normalcy.
Key Insights from the Building Information Management Market Analysis
- Among the solutions, the BIM software segment is projected to lead the global demand for building information management, displaying a notable CAGR of 13.7% during the forecast period. It is closely followed by the services segment.
- In terms of end users, the architects and consultants category are at the forefront, commanding a substantial CAGR of approximately 14.8% from 2022 to 2032.
- Regarding applications, the commercial sector is expected to witness a rapid surge in demand for BIM systems compared to the residential sector over the entire projected period.
- Geographically, North America currently holds the largest market share, accounting for about 30.3% of the BIM industry in 2021. However, the South Asia & Pacific region is projected to exhibit the highest growth rate, approximately 15.4%, during the period from 2022 to 2032.
Competition in the BIM Market
The landscape of the BIM market is gradually shifting from being moderately concentrated to becoming more fragmented, as new players enter the scene. This industry is marked by intense competition, thanks to the presence of numerous vendors, both large and small, offering solutions in both domestic and international markets.
Key players in this field are embracing strategic moves such as mergers and acquisitions, as well as innovative developments in their products and services.
In April 2022, Autodesk unveiled Revit 2023, the latest advancement in BIM software. This update incorporates features requested by customers, aimed at enhancing documentation, interoperability, and overall productivity across the design process. Revit 2023 introduces a fresh analytical modeling workflow specifically tailored for structural engineers.
In July 2021, Graphisoft made noteworthy enhancements to BIMx and BIMcloud. These updates focused on bolstering security, expanding storage capacity, enhancing visualization, and promoting collaboration features. Additionally, Android users can now access the new 3D BIMx engine, providing them with improved capabilities.
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Key Players:
- Autodesk Inc.
- Trimble Solutions Corporation
- Graphisoft (Nemetschek Group)
- BIMobject
- Elecosoft
- RIB Software SE
- Dassault Systèmes
- DataCAD LLC
- Bentley Systems, among others
Building Information Management Segments By Category:
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
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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