NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The global building
information market will observe substantial growth in the coming
years with rising investments in the housing sector globally. This
is evident in both developed and developed countries across the
world.
A majority of the economies in the European Union witnessed
strong growth in the housing sector in 2018. For instance, the
construction industry in the Czech
Republic grew between 10% - 13% in 2018 compared with the
previous year. Similarly, the construction industry in Poland recovered during 2017-2018 with the
commencement of major public construction projects and rising
investments and funding programs across the commercial sector.
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Key Building Information Modeling Software Market Report
Highlights:
- Market growth 2020-2025: USD 8.38
billion
- Growth momentum & CAGR: Decelerate at a CAGR of 24%
- YoY growth (%) in 2021: 28.71%
- Performing market contribution: APAC at 33%
- Key consumer countries: the US, Japan, the UK, China, and France
The building information modeling software market covers the
following areas:
Building Information Modeling Software Market Sizing
Building Information Modeling Software Market Forecast
Building Information Modeling Software Market Analysis
Building Information Modeling Software Market: Segmentation
Analysis
Technavio analyzes the market by product (software
and services) and geography (North
America, Europe, APAC, MEA,
and South America).
By product, the software segment generated maximum revenue in
the market and will remain the largest segment during the forecast
period. The segment is driven by increasing public and private
construction projects undertaken through BIM. Also, the need for
lean construction and high-quality buildings will foster the growth
of the segment.
By geography, APAC is expected to emerge as the largest market
for building information modeling. The region currently holds 33%
of the global market share. Factors such as economic development
and increasing investments in the construction of commercial and
industrial buildings will drive the growth of the building
information modeling market in APAC.
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market: Request for a free sample report.
Companies Mentioned
- 4M SA Advanced Technical Software
Systems
- Autodesk Inc.
- Bentley Systems Inc.
- Cadsoft Corp.
- Dassault Systemes SE
- Hexagon AB
- Nemetschek SE
- Oracle Corp.
- Siemens AG
- Trimble Inc.
The building information modeling software market is
fragmented due to the presence of several domestic and
international players. The growing competition is driving vendors
to adopt organic and inorganic growth strategies such as new
product launches or forming strategic alliances with other
players.
For instance:
- In November 2019, Autodesk Inc.
and Virgin Hyperloop One announced an alliance to explore new
opportunities in extending the value of BIM
(BIM) for transportation route optimization and improved
digital engineering and construction workflows.
- In March 2020, Bentley Systems
Inc. announced the acquisition of Group BC, a leading UK-based SaaS
software innovator. In October 2019,
the company announced the release of iTwin Services, the new cloud
service for infrastructure engineering digital twins.
- In January 2020, Hexagon AB
announced the acquisition of Blast Movement Technology (BMT), a
leader in blast movement monitoring and analysis.
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get a brief understanding of various other vendors and their
strategies.
Key Market Drivers
Our analysts have extensively
outlined the information on the key market drivers and their impact
on the building information modeling software market.
- Increasing requirements for large-scale project
management:
Organizations are increasingly
adopting BIM to overcome various operational challenges, reduce
time, and enhance productivity. For instance, BIM reduces reworks
and the dependence on paperwork and documentation. BIM also
decreases response time and increases productivity, which ensures
efficient process management. Such benefits are encouraging many
medium and small architectural, engineering, and construction firms
to adopt 3D modeling to streamline workflow and increase their
profitability. All these factors are expected to fuel the growth of
the global building information modeling software market during the
forecast period.
To know about a few other market drivers,
trends, and challenges,
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Related Reports:
Architectural Rendering Software Market by Application and
Geography - Forecast and Analysis 2021-2025
Integrated Building Management Systems Market by End-user,
Component, and Geography - Forecast and Analysis 2021-2025
Building
Information Modeling Software Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum &
CAGR
|
Decelerate at a CAGR
of 24%
|
Market growth
2021-2025
|
USD 8.38
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
28.71
|
Regional
analysis
|
North America,
Europe, APAC, MEA, and South America
|
Performing market
contribution
|
APAC at
33%
|
Key consumer
countries
|
US, Japan, UK, China,
and France
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
4M SA Advanced
Technical Software Systems, Autodesk Inc., Bentley Systems Inc.,
Cadsoft Corp., Dassault Systemes SE, Hexagon AB, Nemetschek SE,
Oracle Corp., Siemens AG, and Trimble Inc.
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period.
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
About Us
Technavio is a leading global technology
research and advisory company. Their research and analysis focus on
emerging market trends and provides actionable insights to help
businesses identify market opportunities and develop effective
strategies to optimize their market positions. With over 500
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insights to identify opportunities in existing and potential
markets and assess their competitive positions within changing
market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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