Building Information Modeling Market Expected to reach $15.0 billion by 2028
The global building information modeling market was valued at USD 7.9 billion in 2023 and is projected to reach USD 15.0 billion by 2028; it is expected to register a CAGR of 13.7% during the forecast period. The rise in demand for BIM solutions is attributed to growing use of BIM as it leads to sustainable development and rapid rise in urbanization globally.
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By Offering: software segment to account for largest
market share in the forecasted year.
The software segment is expected to account for the largest
market share of the building information modeling market in 2028. BIM software creates digital 3D models of
buildings and infrastructure, including architecture, engineering, and
construction details. Ecosystem players offering BIM software solutions include
Autodesk Revit, Bentley Systems MicroStation, Trimble SketchUp, Graph iSOFT
ArchiCAD, Vector works Architect, Tekla Structures, and AutoCAD Civil 3D. BIM
software is essential for improving collaboration, reducing errors, and
improving overall project efficiency in the AEC industry.
By Project lifecycle: preconstruction segment to account
largest market share in the forecasted year.
The preconstruction segment is expected to account for the
largest market share of the building information modeling market in 2028. The use of BIM in the preconstruction process
can enhance construction speed, minimize costs, and reduce on-site re-work and
subsequent waste of materials, which is more environmentally friendly. By
identifying and resolving clashes and issues before construction begins, the
pre-construction phase using BIM can help ensure a smoother and more efficient
construction process.
By Deployment: on-premises deployment segment to account
for largest market share in the forecasted year.
The on-premises deployment is expected to account for the
larger market share of the building information modeling market in 2028. On-premises deployment of BIM has certain
advantages over cloud-based deployment. It provides better data security and
privacy control since the data is stored locally within the organization's
premises. This leads to the increased adoption of on-premises deployment type
of BIM software than cloud deployment.
Also, it can offer better performance and faster data access since the
data is stored and processed locally and is more cost-effective in the long run
since there is no need for ongoing subscription fees for cloud-based services.
By applications: buildings segment account largest market
share of the building information modeling market in 2028.
The buildings segment is expected to account for the largest
share in 2028. With increasing trends in digitization, BIM is gaining
popularity in the construction industry. Building applications mainly include
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 building is prepared, and the flow of the entire building project is
decided. These buildings are mostly customized. These applications focus on
adopting BIM by firms primarily responsible for working on the construction
(i.e., new work, additions, alterations, maintenance, and repairs) of
commercial and retail buildings. The building application is likely to continue
to account for the largest share of the BIM market in the coming years because
of the increasing number of buildings or construction projects, including
business centers, shopping centers, and retail shops. It is a step forward in
leveraging BIM toward the innovative presentation of projects in the form of
informative and simulation models. In the current scenario, BIM is transforming
the traditional designing and construction processes of commercial buildings by
eliminating the risks of conflicting information across groups during all
stages of project development.
By Application: in 2028, the AEC Professionals segment is
expected to account for the largest share of the building information modeling
market.
The AEC Professionals segment is expected to account for the
largest market share of the building information modeling market, by
application, in 2028. AEC professionals who work with BIM include architects,
engineers, construction managers, contractors, and facility managers. These
professionals may have a slightly different role in the BIM process. Still,
they all share a common goal of using digital tools to improve the efficiency
and quality of construction projects. The AEC industry uses BIM for 3D
visualization, clash detection, feasibility analysis, constructability review,
quantity take-off, and cost estimate, 4D/scheduling, environmental/LEED
analysis, creating shop drawings, and facility management. BIM has the
potential to improve construction efficiency, enhance collaboration, enable
knowledge sharing among team members, and support construction-related tasks.
Using BIM throughout a project reduces risks by promoting efficiency,
minimizing errors or misinterpretations between designers, engineers, and
contractors, and requiring collaboration and knowledge sharing between all
parties.
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North America is expected to hold the largest share of
the building information modeling market during the forecast period.
North America is expected to account for the largest market
share of the building information modeling market in 2028. The market in North
America has been studied for the US, Canada, and Mexico. The market in North
America is led by companies such Autodesk Inc., Bentley Systems, Trimble Inc.,
Procore Technologies, Inc., Archidata Inc., Pinnacle Infotech Solutions,
Concora, AFRY, Beck Technology, Computers and Structures, Inc. (CSI), Robert
McNeel & Associates, 4M, SierraSoft, Soft Software Inc., and Topcon. The
presence of these players in the BIM ecosystem proves a boon for the region.
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