Building Information Modeling (BIM) Market Estimated to Reach USD 18.42 Billion by 2030, at a CAGR of 13.63


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BIM Market Overview

Building Information Modeling (BIM) refers to a specific software used in various stages of implementation and design of several infrastructural projects. The BIM market provides construction consultants, architects, and engineers extra funds and tools for building theme-based buildings based on abstract design. The need for blueprints for medical, electrical, and plumbing designs combined with the regulations to implement building information modelling market. Furthermore, flexible uses can boost the growth of the BIM market over the coming years.


BIM Market Drivers

The global market for building information modeling has recorded a massive rise in the growth rate in the last few years. The significant aspect causing an upsurge in the market's growth is the rapid expansion of the construction sector across the globe. In addition, the governments across various are taking initiatives to encourage organizations to adopt the BIM market to manage resources efficiently over the assessment era is another major parameter supporting the market growth. In addition, the architects and engineers can draw up modified projects by varying some patterns of the existing templates. Also, the tools needed for designing and developing the projected may also boost the market's growth over the assessment timeframe. Moreover, the constant technological evolution will likely offer lucrative opportunities to the players across the market over the review timeframe.


BIM Market Segments

Among all the components, the solution segment is anticipated to account for the highest revenue share across the global market for building information modeling over the assessment era. The segment's growth is mainly credited to the growing adoption of BIM solutions in the AEC industry. Most of these companies are implementing these solutions to support all construction processes like data management and procurement. On the other hand, the services segment is projected to register the highest CAGR over the review timeframe. The segment's growth is credited to the factors such as an increase in the adoption of services among end users and growth in demand for cloud-based building information modeling services.


BIM Industry Regional Analysis 

The global market for building information modeling is analyzed across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.


Source: Market Research Future