Building Information Modeling (BIM) Market to Reach $11.96 Bn in 2027; Rising Private and Government Structures to Accelerate Growth

The global building information Modeling (BIM) market size is projected to grow from USD 5.71 billion in 2020 to USD 11.96 billion in 2027. The adoption of remote working amid the COVID-19 pandemic has led owners and builders to use the BIM software for training their laborers to surge work efficiency. Fortune Business Insights™ presented this information in a new study, titled, “Building Information Modeling (BIM) Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Project Phase (Pre-Construction, Construction, and Post Construction), By Application (Commercial, Residential, Industrial, and Public Infrastructure), By End-User (Architect and Engineers, Facility or Construction Managers, and Builders and Contractors), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 5.20 billion in 2019. It is expected to show a CAGR of 11.1% during the forecast period between 2020 to 2027.

Planon and Leica Geosystems Collaborate to Integrate Their Software Solutions

In May 2020, Planon and Leica Geosystems joined hands to integrate the former’s software for asset management, space, and real estate and the latter’s cloud-based, reality capture visualization and collaboration solutions to innovate the building industry by accelerating digital transformation.  

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/building-information-modelling-software-market-102986

Increasing Investments in Real-estate Sector to Propel Growth

The high demand for residential buildings on account of rapid urbanization is anticipated to aid the BIM market growth in the near future. Besides, the construction of numerous private and public buildings, as well as government and commercial structures, would augment the demand for BIM solutions. Several government agencies across the globe are also investing huge sums in the real-estate sector. However, the usage of building information Modeling software solutions requires highly skilled workers. Their shortage may hamper growth.

Partnerships & New Product Launches — Crucial Strategies of Key Companies

The market houses several companies that are entering into collaborations and partnerships to integrate multiple software solutions for providing enhanced functioning to users. Some of the others are launching state-of-the-art solutions to cater to increasing demand worldwide.

Fortune Business Insights™ listed out the names of BIM providers operating in the global market. They are as follows:

• Autodesk Inc. (California, United States)


• Dassault Systèmes SA (Vélizy-Villacoublay, France)


• Bentley Systems Inc. (Pennsylvania, United States)


• Nemetschek AG (Munich, Germany)


• Beck Technology Ltd. (Texas, United States)


• AVEVA Group Plc. (Cambridge, United Kingdom)


• Hexagon AB (Sweden)


• Pentagon Solution Ltd. (Belfast, N. Ireland)


• Trimble Ltd. (California, United States)


• Synchro Software Ltd. (London, UK)


• Pinnacle Infotech (Mumbai, India)


• Planon Group (Boston, United States)


• LOD Planner Inc. (Los Angeles, United States)


• ACCA software S.p.A. (Campania, Italy)


• Vectorworks, Inc. (Maryland, United States)


• Revit Modeling India (Gujrat, India)


• Robert McNeel & Associates (Washington, United States)

A Noteworthy Industry Development-

• March 2020: Trimble, a hardware, software, and services technology company based in the U.S., launched the new version of Tekla software solutions.  They will be used for steel fabrication, structural engineering, and advanced building information Modeling management. It would provide refined drawing tools, easy formworks modeling, geometry improvements, and easy modeling of complex shapes.

Further Report Findings-

• In 2019, North America held USD 1.91 billion in terms of revenue because of the early adoption of innovative digital tools. It is expected to lead the market backed by the mandates by governments to use BIM software in construction projects.


• In Asia Pacific, China is expected to contribute to the maximum share stoked by its plan to work on three large scale construction projects, namely, Shanghai Disneyland Resort, Beijing Phoenix Media Center, and Shanghai Tower.


• Based on the end-user, the architect and engineers segment generated 43.5% and 41.5% globally and in the U.S., respectively, in terms of the BIM market share in 2019. BIM software solutions help designers and builders to better understand the challenges associated with a specific project in advance.

The global market can be segmented in the following way: