Building Information Modeling Market Growth Estimated at Stunning CAGR Through 2030 – GBS News

Building Information Modeling Market: by component (software and service), by distribution method (on-premise and cloud) and by application (commercial, residential and industrial), by region: global size of the sector, growth, trend, opportunities and forecasts (2021 – 2027)

The Building Information Modeling market report includes an in-depth analysis of the market dynamics, business models, segmental / regional analysis and respective market shares and strategies employed by the major market players operating in the global market. It includes an in-depth analysis of the factors influencing the global market and market statistics showing an analysis of market share / regional and segment growth. The study of the report provides a perspective on one of the most comprehensive analysis of the market, covering all aspects of the Building Information Modeling market.

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Industry Perspectives for Building Information Modeling
The global building information modeling market was valued at $ 5.5 billion in 2020, which is expected to reach $ 15.2 billion by 2027, growing at a CAGR of 14.6% over the forecast period (2021- 2027). Building Information Modeling (BIM) involves the generation and management of digital representations of the functional and physical properties of places. Building information templates are files that can be extracted and exchanged to support decision making about a building. BIM is a leading design tool in the architecture, engineering and construction industries, helping to analyze the quantitative and qualitative aspects of construction such as component procurement, cost estimation and time requirements. It also helps to perform project related operations after completion, including maintenance and project lifecycle management issues. Today, BIM software is used by construction, corporate, private and government agencies that plan, design, build, operate and maintain various infrastructures such as bridges, roads, tunnels, electricity, ports, etc.

Market Dynamics Building Information Modeling:
According to the United Nations, the world’s population will increase to 8.1 billion in 2025 and reach 10 billion by 2050. To reach such a large population, it is imperative that the vertical AEC industry offers intelligent software to develop an infrastructure for the future. With demographic and economic growth, the need for infrastructure and housing will fuel the growth of the construction sector around the world. As construction activity increases, which will increase the need for efficient ways of working, BIM offers architects, engineers and construction professionals the opportunity to plan, design and manage construction projects more efficiently. Therefore, the 3D model-based approach of BIM in carrying out construction projects is gaining popularity all over the world. These are important factors driving the global growth of Building Information Modeling (BIM) during the forecast period.

Additionally, the ISO released BIM standards in January 2019. According to the ISO, the standards will provide an essential framework to help contractors and designers from different countries work together more efficiently at all stages of construction projects. After the publication of these standards, several countries made the use of BIM mandatory. These standards are mainly used in infrastructure and commercial projects. These standards are expected to be widely used for various industrial buildings, infrastructure and buildings during the forecast period.

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However, the high upfront costs associated with BIM software and the long training duration would hinder the growth of global Building Information Modeling (IBM) over the anticipated time frame. Additionally, the outbreak of the COVID19 pandemic has negatively impacted the global Building Information Modeling (BIM) industry. The Associated General Contractors of America (AGC) reports that at least 45% of contractors are experiencing delays due to the pandemic. These delays are due to a lack of materials, construction machinery and parts.

scope of the report
The report outlines the study of the Information Modeling market segmented into component type, deployment model and application.

Based on component type, the Building Information Modeling market is segmented into:
Based on the implementation model, the Building Information Modeling market is segmented
Or local
Based on the application, the Building Information Modeling market is segmented into:
Building Information Modeling market: regional perspectives
Geographically, the electric car market is segmented into North America, Asia Pacific, Europe, South America and the Middle East and Africa (MEA). North America is expected to hold the largest market share in the global building information modeling market and is expected to maintain its position during the forecast period. This growth is attributed to the widespread adoption of BIM software by consultants

, engineers and architects, presence of key actors, high diffusion of advanced technologies, increased purchasing power, increased development of smart cities and increased environmental and energy concerns deriving from construction activities. These are important factors driving the growth of BIM in the region.

After North America, Asia Pacific is expected to forecast the highest CAGR growth rate during the forecast period. This growth is due to increased construction activity in India, China, Japan and Singapore. Increased infrastructure development, population growth and high Internet penetration are some of the factors driving IBM’s growth in the region. According to the Indian Brand Equity Foundation (IBEF), the Hyderabad Metro Rail Project is the world’s largest public-private partnership (PPP) in the subway sector, worth $ 2.01 billion.

competitive landscape-
Among the leading manufacturers of Building Information Modeling on the world market are Autodesk Inc., Bentley Systems Inc., AECOM, GRAITEC and Dassault Systèmes SA.

Other Building Information Modeling vendors include Nemeteschek AG, Beck Technology Ltd., Tekla Corporation, Pentagon Solutions Ltd., Asite Solution, Hexagon AB, Cadsoft Corporation, Trimble Ltd., ABB Ltd, and AVEVA.

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In June 2020, Bentley Systems acquired Note Vault to add a mobile application to Bentley’s SYNCHRO digital construction environment to monitor and manage equipment, labor and materials.
In May 2020, Autodesk introduced the updated version of the Autodesk Construction Cloud software which features several new APIs that enable custom connections for BIM 360 and PlanGrid, as well as 25 new native integrations. Therefore, the total number of platforms directly integrated into this application is more than 140.
In May 2020, Nemetschek subsidiary ALLPLAN partnered with Scalypso to develop a plug-in available in the current version of ALLPLAN 2020.
The Building Information Modeling Market report provides an in-depth analysis of the macroeconomic factors and market attractiveness of each segment. The report will provide an in-depth qualitative and quantitative assessment of the segmental / regional outlook with market participants in each segment and each region / country. Information summarized in the report includes input from industry participants and industry experts from across the value chain.

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