Building Information Modeling Market size was valued at USD 5.5 billion in 2022 and is poised to grow from USD 6.6 billion in 2023 to USD 24.07 billion by 2031, growing at a CAGR of 13.12% during the forecast period (2024-2031).
The building information modeling market is witnessing remarkable growth impacted by the rising government initiatives triggering its use, growing construction activities, and mounting demand for collaboration among stakeholders. It offers cost-efficiency, sustainability, and better project efficacy via improved resource management. Furthermore, the market is fueled by advancements in technologies like integration of AI and cloud computing. The market is anticipated to continue progressing with the rise of digital transformation with emphasis on maintaining infrastructure and advanced design practices.
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Currently, artificial intelligence technologies are being incorporated in building information modeling workflows. This improves automation of routine tasks, design processes, and enhances decision-making. AI can effectively analyze massive data sets to enhance designs, project outcomes, and also support risk management by precisely detecting potential issues and glitches beforehand. Moreover, the growing inclination towards cloud-based building information modeling platforms enables collaboration among stakeholders in real-time, irrespective of their locations. This major trend improves data accessibility, streamlines remote work culture, and allows simplified sharing of information in teams. Cloud-based solutions also aid in the integration of different software technologies, enhancing overall project management.
Facility Management and Generative Design in BIM to Spur Market Growth in Future
Generative design technology is currently being incorporated into building information modeling workflows that enable engineers and architects to contribute certain parameters. These include budget, material types, and ecological factors. They can also help produce different design options. The technique not only accelerates design procedures but also motivates innovative solutions that may have been ignored earlier via traditional design techniques. Also, the growing use of building information modeling increases afar construction and design phases in facility management. The latest developments have witnesseda rise in the implementation of building information modeling for maintenance and operations. This enables the facility managers to use as-built approaches for effective asset tracking, space management, and maintenance scheduling. This shift is aiding a more inclusive approach to building lifecycle management.
- In July 2024, Trimble announced that its innovative 3D modeling software, named SketchUp has been selected as the initial building/civil information model technology for civil engineering projects of Taisei Corporation. SketchUp models enhance collaboration, increase productivity, and unlock effectiveness.
- In September 2024, Schneider Electric developed a novel innovative tool, named ‘Building Decarbonization Calculator’ that authorizes building operators and owners to swiftly explore and test a broad range of (ECCMs), aiding in easy detection of best options depending on simulated data.
- In June 2023, Schneider Electric launched Advanced Electrical Design™ mainly for Autodesk® Revit® (v24.0.0). It offers a smarter, unbroken, and connected workflow. The novel software equipped with innovative features will allow designers and engineers to play a key role in designing high performing buildings for modern energy landscape.
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This report covers the following segments:
- A. Offering
- Software
- Services
- B. Project Phase
- Pre-Construction
- Construction
- Operations
- C. Vertical
- Residential
- Industrial
- Commercial
- Others
- D. Deployment Mode
- On-Premises
- Cloud
- E. Application
- Planning & Modelling
- Construction & Design
- Asset Management
- Building System Analysis & Maintenance Scheduling
- Others
- F. End User
- AEC Professionals
- Consultants & Facility Managers
- Others
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The report covers the following players:
- Autodesk Inc.
- Nemetschek Group
- Bentley Systems
- Dassault Systèmes
- Trimble Inc.
- Schneider Electric
- Procore Technologies, Inc.
- TreisTek India Pvt. Ltd.
- Concora
- AFRY AB
Key Trends and Developments in Building Information Modeling to Transform Future
The recent development and trends focus the rising importance via cloud platforms and emphasis on sustainability in design approaches. As these trends and developments are reshaping the market, building information modeling is highly being regarded as a vital tool for enhancing efficacy, reducing costs, and managing lifecycle of constructions plans. The current innovations signify a promising future for building information modeling on holistic project management and digital transformation.
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