The new report by Expert Market Research titled, ‘Global BIM in Construction Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global BIM in construction market, assessing the market based on its segments like major phases of work, end-users, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): 3.3 billion USD
• Forecast CAGR (2022-2027): 15.20 %
• Forecast Market Size (2027): 7.6 billion USD
The developing interest for quick construction of houses and foundations inferable from the rising worldwide population is flooding the reception of BIM and driving the business development. As the construction business is one of the most clumsy areas, BIM is progressively being conveyed to distinguish possible dangers and risks, consequently flooding the wellbeing of the laborers.
With the developing necessity to proficiently anticipate cost data of building construction, BIM is utilized to give cost demonstrating while at the same time improving expense adequacy, in this way giving further driving force to the market for BIM in construction.
Industry Definition and Major Segments
BIM in construction, differently known as building data demonstrating in construction, is an answer that is conveyed to construct and plan current buildings by using different planning strategies and apparatuses. It gathers the data connected with construction exercises carefully to lay out a persistent progression of data. It upgrades the expense adequacy, security, and time-effectiveness of construction projects.
The major phases of work of BIM in construction are:
• Construction
• Operation
By end-users, the market is divided into:
• Engineers
• Contractors
The market can be broadly categorised on the basis of its application segments into:
• Residential
• Non-Residential
Based on deployment model, the market is divided into:
• On-Premise
• Cloud-based
On the Basis of region, the market can be divided into:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The combination of the most recent advances like artificial intelligence (AI) is supposed to expand the development of the market. Computer based intelligence empowered BIM programming can robotize and improve the most common way of demonstrating buildings to smooth out work process. As artificial intelligence (AI) quickly evaluates a lot of information, it is anticipated to support the precision of building information demonstrating (BIM) programming while at the same time giving significant bits of knowledge to manufacturers, which is expected to drive the market for BIM in construction.
The rising pattern of green buildings is expanding the necessity for ideal plans, building methods, and systems for their construction. This, thus, is prompting a flood in the reception of BIM to create and break down the abilities of economical plans, which is driving the development of the business. Furthermore, BIM likewise empowers designers to look at the energy and asset productivity during construction, which is fundamentally adding to the market development.
Key Market Players
The major players in the market are Autodesk Inc., Aveva Group PLC, Hexagon AB, Oracle Corporation, Procore Technologies Inc. and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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