Building Information Modeling Global Market Report 2024

The global building information modeling market has grown rapidly in recent years. It will grow from $8.06 billion in 2023 to $9.43 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to the expansion of building lifecycle management, the establishment of industry standards and certifications, increased focus on efficiency and cost savings, government initiatives and mandates, and the emergence of 3D modeling technologies.

The global building information modeling market is expected to see rapid growth in the next few years. It will grow to $17.46 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to the rise in remote collaboration tools, an emphasis on building performance analysis, a focus on smart cities and urban development, growing demand for facility management integration, and advancements in 5D BIM. Major trends in the forecast period include the integration of artificial intelligence (AI) and machine learning, the rise of cloud-based BIM solutions, a focus on sustainable design and green building practices, and the expansion of virtual reality (VR) and augmented reality (AR) in BIM.

The modular construction market is expected to experience growth due to the rapid rise in construction activities. The construction industry, responsible for building, repairing, renovating, and maintaining infrastructure, has witnessed a surge in demand. Building Information Modeling (BIM) is becoming crucial in the construction sector, aiding in higher productivity and shorter project lifecycles through improved communication and coordination. According to a report by Oxford Economics, global construction output is anticipated to increase by 42% (USD 4.5 trillion) between 2020 and 2030, reaching USD 15.2 trillion. The rise in residential construction in the U.S. has contributed to increased demand for materials and labor. The construction industry's growth is expected to drive the adoption of modular construction methods.

Water shortages are expected to drive the growth of the Building Information Modeling (BIM) market. The demand for freshwater exceeds the available supply, leading to insufficient water resources globally. BIM plays a crucial role in water conservation efforts by optimizing the design and construction of water-efficient infrastructure. According to UNESCO, 26% of the global population (2 billion individuals) lacks access to clean drinking water, and 46% (3.6 billion people) lack access to adequately managed sanitation services. BIM can contribute to addressing and mitigating the impacts of water shortages by improving the efficiency of water infrastructure projects.

The rising trend of the Internet of Things (IoT) in construction is gaining popularity and impacting the Building Information Modeling (BIM) market. IoT applications in construction streamline ordering and modeling processes, reducing the time required for ordering materials. Companies in the BIM sector are incorporating BIM and IoT smart building technologies to enhance construction project management. For example, SIMLAB, a Poland-based technology company, has integrated BIM and IoT into Matterport Digital Twins, enabling stakeholders to track and view critical points during the architectural design stage and examine construction sites remotely.

Major companies in the building information modeling market are developing software solutions to address historical challenges in the construction industry. Autodesk Takeoff, launched by Autodesk Inc., is a software solution designed to empower estimators by facilitating 2D and 3D quantification workflows. The software enhances collaboration and accuracy in the estimation process, providing better visualization of project scope, real-time updates with cloud-based document management, and multi-user access to projects. Such software solutions contribute to the modernization and efficiency of construction practices.

Autodesk's acquisition of Graitec in March 2022 is a strategic move aimed at enhancing its services and strengthening its position in the Building Information Modeling (BIM) market. Graitec, being a France-based developer of BIM software, contributes valuable expertise and solutions to Autodesk, aligning with Autodesk's goal of expanding and improving its offerings in the BIM sector.

Major companies operating in the building information modeling market report are Autodesk, The Nemetschek Group, Bentley Systems Incorporated, Trimble Navigation Limited, Pentagon Solutions, Asite Solutions, AVEVA Group PLC, Hexagon AB, ACCA Software Inc., Vector Networks Inc., Revit Modelling India, Pinnacle Infotech, Planon Group, LOD Planner Inc., Cadsoft Corp., Archidata Inc., Tekla Corporation, Dassault Systèmes, Graphisoft SE, Procore Technologies Inc., Bluebeam Inc., Synchro Software Ltd., Architecture Engineering Construction Operations and Management, Mott MacDonald Group, PTC Inc., Siemens Digital Industries Software, Corecon Technologies Inc., Newforma Inc., BIMobject AB, FARO Technologies Inc., Hilti Group, ClearEdge3D Inc., PlanGrid, Solibri Inc., ALLPLAN, RIB Software SE, BuildingConnected, Pointfuse Ltd.

North America was the largest region in the building information modeling market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building information modeling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the building information modeling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary deployment types for Building Information Modelling solutions are on-premises deployment and cloud deployment. On-premises Building Information Modelling refers to deploying the software on the premises of the construction company. On-premise BIM software is installed at the project site to enhance data security for construction projects. The project lifecycle encompasses preconstruction, construction, and operation. Major components of Building Information Modelling include software and services, utilized in applications like planning and modeling, construction and design, asset management, building system analysis, maintenance scheduling, among others. It is employed by architects or engineers, contractors, and other stakeholders.

This report provides building information modeling market statistics, including building information modeling industry global market size, regional shares, competitors with a building information modeling market share, detailed building information modeling market segments, market trends and opportunities, and any further data you may need to thrive in the building information modeling industry. This building information modeling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The building information modelling (BIM) market includes revenues earned by entities by providing services related to geographic BIM, structural BIM, concrete BIM, and architectural BIM software. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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