Building Information Modeling (BIM) Market Growth to Gain Momentum and Hit Revenue of USD 30.24 billion by 2028 - Zion Market Research

NEW YORK, Sept. 8, 2021 /PRNewswire/ -- As per the findings of Zion Market Research study, building information modeling (BIM) industry amassed revenue of US$ 22.58 billion during 2020 and is slated to gain profits worth US$ 30.24 billion during 2028. The building information modeling (BIM) market is expected to register highest gains of about 3.7% during 2021-2028. Moreover, building information modeling provides insights to construction engineers in proficiently scheduling, designing, handling, and constructing buildings along with strengthening real-estate infrastructure. This will completely transform phase of building information modeling (BIM) market growth over years ahead. In addition to this, surge in construction activities across globe will pave way for expansion of building information modeling (BIM) market during forecast timeline. With COVID-19 pandemic outbreak, there is massive acceptance of remote working activities across globe and this is projected to create lucrative avenues for building information modeling (BIM) market over years ahead. Surge in urbanization and inflating population has culminated into massive rise in real-estate construction projects, thereby steering industry trends. Apart from this, large-scale acceptance of building information modeling can be credited to massive benefits offered by it as compared to other tools such as paper-based designing and CAD systems.

Moreover, rising popularity of connected things and enacting of strict laws pertaining to use of building information modeling will translate into humungous growth for building information modeling (BIM) industry over years to come. With many of public & private real estate owners implementing building information modeling software for enhancing efficiency of operations, the market for building information modeling (BIM) is projected to gain traction over years ahead.

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Legislations Aiding BIM Implementation in Construction Sector to Boost Market Growth

Demand for building information modeling (BIM) software use in residential & commercial construction activities is increasing profusely in recent years. Additionally, the software helps both land owner and person in building construction business in reducing operational costs and hence government has supported use of BIM software tool in construction activities. Citing an instance, in 2016, UK government had made BIM level 2 implementation as mandatory in various public utilities, thereby steering massive use of software in infrastructure & construction sectors in the UK. Furthermore, government of UK claimed that use of BIM software product reinforced security of construction activities. Another instance is of Swedish Government which in 2015 encouraged use of BIM in alliance with private & public players of AEC, thereby resulting in reduction in operational costs. Reportedly, government authorities in Germany, France, India, South Korea, Australia, and China are keen in implementing software and this will pave way for humungous expansion of building information modeling (BIM) market over forthcoming years.

Building Information Modeling (BIM) Market: Report Scope

North America to Make Notable Contributions towards Overall Market Size By 2028

The regional market growth over forecast timeline can be credited to quick acceptance of new online tools and supporting government policies aiding use of BIM software in various infrastructure ventures and construction projects carried out in the U.S. and Canada. The U.S. is home to various tier 1 firms and forefront in accepting of new digital tools in infrastructural domain. This will contribute majorly towards building information modeling (BIM) market growth in North America over years to come. Apparently, the product finds large penetration in architectural projects and is utilized by engineers for planning, designing, and constructing a specific construction unit. Reportedly, large-scale acceptance of product as a result of use of cloud-driven engineering software will prop up market trends in North America over forecasting years.

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Key participants influencing market growth and profiled in study are Beck End-user, Ltd., Nemetschek AG., Dassault Systemes SA, Bentley Systems, Inc., Autodesk, Inc., AECOM, Pentagon Solutions Ltd., Trimble Navigation Ltd., Synchro Software Ltd., and Asite Solutions Limited.

This review is based on a report by Zion Market Research, titled, "Global Building Information Modeling (BIM) Market- By Solution (Software and Services), By End-Users (Architects, Engineers, and Contractors), and By Application (Commercial, Public Infrastructure, Industrial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2028."

The global Building Information Modeling Market is segmented as follows:

By Solution

• Software
• Services

By End-User

• Architects
• Contractors
• Engineers
• Others

By Vertical

• Commercial
• Residential
• Infrastructure
• Institutional
• Industrial

By Region

• North America
• The U.S.
• Canada
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa

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