The Building Information Modelling (BIM) market was estimated to be worth USD 7.28 billion in 2019 and is projected to reach USD 19.43 billion by 2025, registering a CAGR of 17.62% over the forecast period of (2020 – 2025). With the rapid growth in population, there has been a rise in the demand for the residential sector, with various governments across the globe providing incentives for the growth of this sector. Companies, globally are taking advantage of BIM to optimize their operations in residential structure design, making this sector a viable growth opportunity for BIM market.
Scope of the Report
Building Information Modeling (BIM) is a 3D model-based process for creating and managing information on a construction project across the project lifecycle. The important outputs of this process are the building Information model, the digital description of every aspect of the built asset to manage the building infrastructure in a better way.
Key Market Trends
Commercial Application to Witness High Growth
North America to Witness Significant Growth
The building information modeling market is highly competitive owing to the presence of many small and large vendors providing solutions in the domestic as well as in the international market. The market appears to be mildly concentrated moving towards the fragmented stage with the emergence of new players in the market. major players in the market are adopting strategies like product and service innovation and mergers and acquisitions. Some of the major players in the market are Autodesk Inc., Bentley Systems Inc., Dassault Systemes SA, Hexagon AB among others.