Building Information Modeling Market Growing at a CAGR of 16.51% and Expected to Reach $7.64 Billion by 2022 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 13, 2019 /PRNewswire/ -- According to the new market research report Building Information Modeling Market by Type (Software, Services), Project life cycle (Pre-construction, Construction, Operation), Application (Buildings, Civil Infrastructure, Oil & Gas, Industrial, Utilities), Geography - Global Forecast to 2022, published by MarketsandMarkets™,  The building information modeling market is expected to grow from USD 3.16 billion in 2016 to USD 7.64 billion by 2022, at a CAGR of 16.51% during the forecast period.

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Building information modeling (BIM) refers to the process that involves digital designing, documentation, and representation of building and infrastructure plans. BIM can be implemented with the help of various software and services available, which are adopted at different stages of a project life cycle, such as pre-construction, construction, and operation.

The objectives of the report includes forecast of the BIM market size in terms of value for BIM software and services, Project life cycle (Pre-construction, Construction, Operation), Application (Buildings, Civil Infrastructure, Oil & Gas, Industrial, Utilities), and Geography.

The market for building information modeling (BIM) services to grow at the highest CAGR during 2017–2022

The market for BIM services is expected to grow at the highest CAGR during the forecast period. BIM services comprise architectural, structural, and MEP modeling; these services also include the provision of cloud to BIM services and infrastructure modeling to architects, engineers, general contractors, and developers. These services help in estimating costs as well as the requirement of materials and their quantity. Services are provided according to the project types and requirements for commercial, residential, healthcare and other buildings.

The building information modeling market for industrial applications to grow at the highest rate during forecast period.

Among all the major applications of BIM market, industrial applications is expected to grow with the highest CAGR during forecast period. Industrial buildings may specifically focus on process systems and equipment. The equipment and systems that shape industrial buildings can be incorporated with BIM. BIM precisely eliminates any chance of miscommunication between the owner and the builder, as the entire design model can be viewed clearly. The market growth can be attributed to the rapid industrialization and the rising awareness about the advantages of adopting BIM for industrial facilities in the developing countries such as China and India in APAC.

North America to hold a major share of the building information modeling market in 2016

Autodesk Inc. (U.S.), Nemetschek SE (Germany), Trimble Navigation Limited (U.S.), Bentley System, Inc. (U.S.), Asite Ltd. (U.K.), AVEVA (U.S.), RIB Software AG (Germany), Dassault Systèmes (France), Archidata Inc. (Canada), Intergraph Corporation (U.S.), Beck Technology, Ltd. (U.S.), Computers and Structures, Inc. (U.S.), Robert McNeel & Associates (U.S.), and Cadsoft (U.S.) are some of the major companies dominating the BIM market.

Browse and in-depth TOC on Building Information Modeling Market

62 - Tables

75 - Figures

154 - Pages

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The key players operating across the value chain of the ESL market are Pricer (Sweden), SES-imagotag (France), Samsung Electro-Mechanics (South Korea), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Diebold Nixdorf (Germany), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), and NZ Electronic Shelf Labelling (New Zealand), among others.

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