The global Building Information Modeling (BIM) market will grow from $8bn to $14.8bn over the next five years driven by demand for greater sustainability and the rapid rise in urbanization, according to new forecast
Research by Markets & Markets said BIM as a Service is projected to grow at the highest CAGR during the forecast period.
BIM as a Service, or BIMaaS, allows for real-time access to BIM models and data via internet connectivity, facilitating enhanced collaboration between project teams, stakeholders and partners, irrespective of geographic location.
In addition, BIMaaS providers offer customizable services tailored to specific project needs. This includes capabilities such as 3D modelling, clash detection, scheduling, cost estimation and facility management.
This flexibility allows organizations to choose and pay for precisely the services required, optimizing resource allocation and budget management effectively.
Preconstruction holds largest market share
The preconstruction segment hold the largest market share in the BIM sector.
Using BIM during preconstruction can increase project speed and lower costs, as well as decreasing on-site rework and material waste, contributing to sustainability.
By identifying and addressing clashes and issues before construction starts, BIM helps to ensure a smoother and more efficient construction process.
Cloud-based BIM solutions set for growth
Cloud-based BIM solutions, which can integrate with other cloud-based tools and services, such as project management software, data analytics platforms and IoT devices, are projected to have the highest growth during the forecast period.
This integration boosts the overall functionality and efficiency of BIM workflows. Additionally, cloud service providers manage software updates, maintenance and security patches, ensuring users always have access to the latest features and improvements without requiring manual intervention.
North America to hold largest market share
North America holds a significant share in BIM industry, with the market encompassing the US, Canada, and Mexico.
Leading companies driving this market include Autodesk, Bentley Systems, Trimble and Procore Technologies, the report said.
The US is expected to lead the BIM market in North America. It hosts several tier 1 companies and is at the forefront of adopting advanced digital systems within the infrastructure sector. This leadership position underscores the region’s robust adoption of BIM technologies across various construction and engineering projects.
Global market players include the US-based Autodesk, Trimble and Bentley Systems, Germany’s Nemetschek Group and Dassault Systèmes of France.
