Growth in BIM software market is fueled by rising
Pune, India, May 27, 2021 (GLOBE NEWSWIRE) – Market analysis
The Building Information Modeling market is lucrative and is expected to experience significant growth at a healthy CAGR of 14.08% during the forecast period (2019-2026), BIM Software Market Forecast Report reveals Market Research Future (MRFR). Building Information Modeling software or BIM is software used for visualizing the design of a building in 3D that integrates the plan, section and elevation of a building. In AEC, this is considered to be a leading design tool that assists in the analysis of qualitative and quantitative facets of construction, such as component sourcing, time requirement, and cost estimation. . In addition, BIM will also help to undertake operations associated with the project after its completion, such as project lifecycle management and maintenance issues.
Fascinating features that propel market growth
According to the MRFR report, there are many factors propelling the size of the BIM software market. These include the growth of infrastructure projects and urbanization, the growing advantages offered to the AEC industry, the growing mandates of the government for the adoption of BIM, the growth of diversified construction activities such as that government complexes, commercial spaces, apartments and large buildings, fast-paced construction SMEs, and government regulators taking up construction activities have imposed specific laws on construction companies for implementation BIM for public sector buildings exclusively.
On the contrary, the high initial cost, lack of technical expertise, and the need for frequent maintenance may hamper the global BIM software market share during the forecast period.
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Impact of COVID-19 on the Global BIM Software Market
The COVID-19 outbreak has cast its spell on different industries, with the BIM software market being no exception. This crisis has led to disruptions in the supply chain of equipment and raw materials and has severely affected the expansion plans of the global BIM software market. The shortage of equipment and skilled labor further aggravated market demand. In addition, contractors have also suffered disruptions and delays. Some construction projects have also been delayed or shut down due to asymptomatic workers. All of this has had a negative effect on the overall demand of the BIM software market.
Yet on the brighter side, technologies such as digital twin technologies, cloud, and IoT to manage, analyze, and monitor data such as worker activities may bode well for market growth. Establishing surveillance systems on construction sites to adhere to safety protocols and prioritize worker safety can drive market growth. ACCA software, for example, created BIM collaboration software to connect workers through mobile apps. Outdoor tracking which monitors particular routes on the construction site can be used to monitor site construction rate and worker productivity.
Market Research Future report offers exhaustive analysis of BIM software market based on end user, applications and software model.
By software model, the BIM software market is segmented into 5D, 4D, 3D, and others. Among these, the 3D segment will dominate the market during the forecast period.
By application, the BIM software market is segmented into industrial, public, buildings, and other infrastructure. Among these, the building segment will dominate the market during the forecast period.
By end user, the BIM software market is segmented into engineers, contractors, architects, and others. Among these, the architects segment will be the market spearhead during the forecast period.
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North America to spearhead the BIM software market
By region, the global BIM software market covers the growth opportunities and latest trends in Europe, Asia-Pacific (APAC), North America, South America, and Middle East and Africa (MEA). Among these, North America will be the market spearhead during the forecast period. The presence of major industry players, increased investment to develop advanced infrastructure, and increased adoption of cloud-based engineering are contributing to the growth of the BIM software market in the region.
In Europe, the BIM software market is expected to have the second largest share during the forecast period. The growing construction sector, the high demand for BIM software by building owners, architects and contractors, the presence of the largest construction sector in France and the increasing use in Austria to build large Construction projects are contributing to the growth of the BIM software market in the region. . The UK has the largest market share.
In APAC region, the BIM software market is expected to grow at a rapid rate during the forecast period. Strong focus on digitization, growing investments from real estate and government sectors to develop advanced infrastructure for commercial, industrial and residential sectors, growing adoption of cloud platforms, presence of a very mature and experienced construction market in Japan , high growth rate, the rapid development of the construction industry in India and the increasing adoption of advanced technologies to improve the competitive advantage of the design and construction industry in China are contributing to the growth of the BIM software market in the region. China holds the largest market share.
In South America, the BIM software market is expected to witness notable progress during the forecast period. The high adoption of BIM software, notable advancements and favorable initiatives undertaken in Brazil and Argentina are contributing to the growth of the BIM software market in the region.
In MEA, the BIM software market is expected to experience solid growth during the forecast period as most AEC organizations are in the process of adopting or already using BIM software.
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The global BIM software market is highly competitive and fragmented, with the presence of several well-established domestic and international key players. They have adopted several strategies to stay ahead, such as mergers and acquisitions, geographic expansions, partnerships and others to stay ahead.
Notable players in the global BIM software market are:
- Oracle Corporation (United States)
- Dassault Systemes SA (France)
- Bentley Systems (United States)
- Nemetschek SE (Germany)
- Siemens AG (Germany)
- Rib Software Se (Germany)
- Aveva Group Plc (United Kingdom)
- Cadsoft Corporation (Canada)
- Beck Technology Ltd (United States)
- Innovaya, LLC. (China)
- Beijing Hongye Tongxing Technology Co., Ltd (China)
- Shanghai Luban Software Co., Ltd (China)
- Glodon Company Limited (China)
- Integrated Environmental Solutions Limited (IES LTD.) (United Kingdom)
- PKPM (Beijing Jianli Technology Co., Ltd) (China)
- Autodesk Inc. (United States)
- Trimble Inc. (United States)
Discover more research reports on Software, By Market Research Future
February 2021 – Italian technology and amplifier specialist Powersoft will soon launch BIM for its rackmount platforms. This can be inserted into the BIM software to inform the specialists associated with the project of the characteristics of each product.
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