Based on component type, the building information modeling market is segmented into-īased on the deployment model, the building information modeling market is segmented into-īased on application, the building information modeling market is segmented into-īuilding Information Modeling Market: Regional Outlookįrom a geographical viewpoint, the electric cars market is segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa (MEA). The report outlines the study of the building information modeling market that has been segmented into component type, deployment model, and application. These delays are owing to the shortages of materials, construction equipment, and parts. The Associated General Contractors of America (AGC) reports that at least 45% of contractors are experiencing delays owing to the pandemic. Moreover, the outbreak of the COVID19 pandemic has negatively impacted the global building information modeling (BIM) industry.
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However, the high initial cost associated with BIM software and requiring long duration of the training would hamper the growth of the global building information modeling (IBM) over the forecast duration. These standards are anticipated to be utilized broadly for various industrial, infrastructure, and buildings over the forecast period. These standards are primarily utilized in infrastructure and commercial projects. After the release of such standards, various countries have made the usage of BIM mandatory. As per the ISO, the standards will give an essential framework to aids contractors and designers from various countries to collaborate more efficiently on all phases of construction projects.
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Moreover, the ISO published the BIM standards in January 2019. These are major factors that drive the global building information modeling (BIM) growth over the forecast period. Thus, the 3D model-based approach of BIM in delivering construction projects is gaining popularity globally. With a rise in construction, which will increase the need for efficient ways of working, and BIM provides architects, engineers, and construction professionals to plan, design, and manage building projects more efficiently. As populations and economies grow, the requirement for infrastructure and housing will boost the growth of the construction sectors across the world.
To address such a large population, it is imperative for the AEC industry vertical to offer smart software to develop infrastructure for the future. Building Information Modeling Market Dynamics:Īs per the UN, the globe’s population will rise to 8.1 billion in 2025 and reach 10 billion by 2050. Nowadays, BIM software is utilized by building, business, individual, and government authorities that plan, design, construct, operate, and maintain diverse infrastructure like bridges, roads, tunnels, electricity, ports, etc. It also aids in undertaking operations related to the project post-completion, including maintenance issues and project lifecycle management. BIM is a leading designing tool in the architecture, engineering, and construction industry, helping to analyze construction’s quantitative and qualitative aspects like component procurement, cost estimation, and time requirement.
The building information modeling is files that can be extracted, exchanged to support decision-making regarding a building. Building information modeling (BIM) involves the generation and management of digital representation of functional and physical characteristics of places. The global building information modeling market was valued at USD 5.5 billion in 2020, which is expected to reach USD 15.2 billion by 2027, registering a CAGR of 14.6% over the forecast period (2021-2027). Request for a sample report here: Building Information Modeling Industry Outlook The study of the report will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the building information modeling market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The building information modeling market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. Building Information Modeling Market: by Component (Software and Service), by Deployment Mode (On-premises, and Cloud), and by Application (Commercial, Residential, and Industrial), by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)