BIM Software Market Size Segmentation:
The global BIM Software Market Size is segmented on the basis of software model, applications, and end-user.
Based on software model, the BIM Software Market Size has been segmented into 3D, 4D, 5D, and others. The 3D segment accounted for the largest market share in 2019, with the largest market value. The 4D segment was the second-largest market in 2019, and it is expected to register the highest CAGR of 15.95% during the forecast period. A 3D model is used only for the concept work, whereas a 3D collaboration model allows sharing project work among the stakeholders and project coordinators. The 3D model is used for product or asset design or modeling. The 4D BIM software integrates start and end date data for the supply and incorporation of construction components and reveals the importance of data in all projects. The 5D BIM model integrates cost management in addition to the features provided by the 3D and 4D models. Others include 6D, 7D, 8D, 9D, and 10D, which are still at a development stage.
Based on application, the BIM Software Market Size has been segmented into buildings, public infrastructure, industrial, and others. The buildings segment accounted for the largest market share, with a market value of 1597.50 million in 2019. The public infrastructure segment was the second-largest market in 2019, valued at USD 1008.58 million; it is projected to register the highest CAGR of 16.5%. BIM software has witnessed high adoption across the construction industry for the construction of commercial and residential buildings. The commercial sector covers retail and corporate buildings, which are expected to gain traction over the assessment period. Public infrastructure projects are expected to have a significant demand during the forecast period. Governments of various countries around the globe have recognized the value of BMI software owing to the process efficiency it offers. Industrial applications also use BIM software due to their cost-effective and convenient construction management processes. Others include entertainment and sports application
Based on end-user, the BIM Software Market Size has been segmented into architects, engineers, contractors, and others. The architects segment accounted for the largest market share, with a market value of USD 1425.48 million. The contractor segment was the second-largest market in 2019; it is projected to register the highest CAGR of 16.26%. BIM software helps architects and engineers complete their tasks within stringent timelines. The software enables architects to layout 3D elements conveniently, which is a time-consuming task if traditional modeling tools are used. BIM helps contractors easily review the quantity variances to validate the subcontractor change orders and verify the cost submittals without taxing internal resources, increasing the efficiency of change order management. Others include government users. Adoption of BIM by most government departments and agencies in recent years has witnessed growth in the last few years, which has gained a considerable pace as compared to the private sector. BIM allows the engineers to develop a virtual layout with comprehensive information in such a format which creates a model structure and forecasts the entire timeline of the project
Market Highlights
The global BIM Software Market Size is projected to register a XX% CAGR during the forecast period, 2020–2026. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the BIM software market in the next few years.
BIM is one of the greatest technological innovations in the construction industry. However, due to the presence of various barriers such as cost and technological limitations, the implementation is lagging in several countries due to which strong government support is required for the successful deployment and development of BIM software. Digitalization in the construction industry is driven by various factors, including the capturing of information in a model, use of technologies, single source of truth, digital collaboration, future-proof designs, and construction
Green buildings are environment-friendly and eliminate and reduce the negative impact on the environment by using minimum natural and energy resources. It is also economical, saves utility costs, and lowers construction costs. Due to these reasons, there is an increasing demand for green buildings. According to MRFR analysis, 40% of green building construction companies use BIM for around 60% of their projects, as implementing this software can help achieve green goals.
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1 EXECUTIVE SUMMARY
1.1 MARKET SYNOPSIS 18
1.2 GLOBAL BIM SOFTWARE MARKET, BY REGION, 2019 19
1.3 GLOBAL BIM SOFTWARE MARKET, BY SOFTWARE MODEL 20
1.4 GLOBAL BIM SOFTWARE MARKET, BY APPLICATION 21
1.5 GLOBAL BIM SOFTWARE MARKET, BY END-USER 22
1.6 GLOBAL BIM SOFTWARE MARKET, BY REGION 23
2 MARKET INTRODUCTION
2.1 DEFINITION 24
2.2 SCOPE OF THE STUDY 24
2.3 RESEARCH OBJECTIVE 24
2.4 MARKET STRUCTURE 24
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 25
3.2 PRIMARY RESEARCH 26
3.3 SECONDARY RESEARCH 27
3.4 MARKET SIZE ESTIMATION 27
3.5 FORECAST MODEL 29
3.6 LIST OF ASSUMPTIONS 29
4 MARKET DYNAMICS
4.1 INTRODUCTION 30
4.2 DRIVERS 31
4.2.1 GROWING NUMBER OF GOVERNMENT MANDATES FOR THE ADOPTION OF BIM 31
4.2.2 GROWING DIGITALIZATION IN THE CONSTRUCTION INDUSTRY 31
4.2.3 DRIVERS IMPACT ANALYSIS 32
4.3 RESTRAINTS 32
4.3.1 HIGH COST OF IMPLEMENTATION OF BIM 32
4.3.2 RESTRAINTS IMPACT ANALYSIS 33
4.4 OPPORTUNITIES 33
4.4.1 INCREASE IN DEMAND FOR GREEN BUILDING 33
4.5 IMPACT OF COVID-19 34
4.5.1 IMPACT ON CONTRACTORS 34
4.5.2 IMPACT ON ASIAN VENDORS 34
4.6 PORTER’S FIVE FORCES MODEL 35
4.6.1 THREAT OF NEW ENTRANTS 35
4.6.2 BARGAINING POWER OF SUPPLIERS 36
4.6.3 BARGAINING POWER OF BUYERS 36
4.6.4 THREAT OF SUBSTITUTES 36
4.6.5 RIVALRY 36
4.7 VALUE CHAIN 37
4.7.1 DESIGNERS AND PROGRAMMERS: 37
4.7.2 SOFTWARE DEVELOPERS: 37
4.7.3 SYSTEM INTEGRATORS: 37
4.7.4 END USERS: 38
5 GLOBAL BIM SOFTWARE MARKET, BY SOFTWARE MODEL
5.1 OVERVIEW 39
5.2 3D 40
5.3 4D 40
5.4 5D 40
5.5 OTHERS 40
Competitive Analysis
The key players of the global BIM Software Market Size include Trimble Inc. (US), Autodesk Inc. (US), PKPM (Beijing Jianli Technology Co., Ltd) (China), Integrated Environmental Solutions Limited (IES LTD.) (UK), Glodon Company Limited (China), Shanghai Luban Software Co., Ltd (China), Beijing Hongye Tongxing Technology Co., Ltd (China), Innovaya, LLC. ( China), Beck Technology Ltd (US), Cadsoft Corporation (Canada), Aveva Group Plc (UK), Rib Software Se (Germany), Siemens AG (Germany), Nemetschek SE (Germany), Bentley Systems (US), Dassault Systemes SA (France), and Oracle Corporation (US).
Regional Analysis
The global BIM software market is divided into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America accounted for the largest share of the BIM software market in 2019 and is likely to remain dominant by 2026. Europe was the second-largest region in 2019, and Asia-Pacific is likely to exhibit the highest CAGR of 17.36% by 2026. Mandatory regulations imposed by the governments in the region for the use of BIM software for construction projects, especially in projects related to public infrastructure, drive the regional market growth.
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BIM Software Market Research Report: Information By Software Model (3D, 4D, 5D and Others), Applications (Buildings, Public Infrastructure, Industrial and Others), End-User (Architects and Engineer, Contractors and Others) and Region (North America, Asia-Pacific, Europe, Middle East & Africa and South America) - Forecast till 2027
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