At 16+% CAGR, Building Information Modeling Market (BIM) Potentially Worth $7.64 Billion by 2022 Led by Building Application

The building information modeling market (BIM) is forecast to reach $7.64 billion by 2022 from $3.58 billion in 2017 at a CAGR of 16.51% during (2017-2022) driven by the optimized project performance and increased productivity; enhanced communication and coordination throughout the asset life cycle management process in the construction industry due to adoption of BIM; and government mandates for the usage of BIM in several developed countries.

PUNE, India, April 20, 2017 /PRNewswire-iReach/ -- Among all the major applications of the building information modeling market, the building applications have been driving the market. The building application expected to capture largest market share during the forecast period. The extensive usage of building information modeling in the construction of retail and commercial buildings in the countries such as the U.K. and the U.S. is driving the market for building applications. However, the market for industrial application is expected to capture the second largest share between 2016 and 2022. Complete report on "Building Information Modeling (BIM) Market" spread across 154 pages, profiling 10 companies and supported with 62 tables and 75 figures is now available at .

The building information modeling market for services is expected to grow at the highest rate during the forecast period. The market for services is estimated to grow at the highest rate between 2017 and 2022. The benefits offered by integrated BIM services in the construction process such as 2D drawings, 3D modeling, 4D scheduling, and 5D estimating power; and change management, clash management, visualization, layout, quantity take off, scheduling, and production control are expected to propel the growth of the BIM market for services. However, the building information modeling software segment is expected to hold largest market share of the BIM market between 2017 and 2022.

The building information modeling (BIM) market projected to grow at a significant rate. However, high costs of building information modeling software required for the execution of various construction processes and long training periods contributing to a decrease in the productivity of the construction companies are the key factors that are restraining the growth of the BIM market.

The building information modeling market in APAC expected to grow at a significant rate. In terms of different geographic regions, the market in the APAC region is expected to grow at the highest CAGR during the forecast period. This market growth can be attributed to the fast growing construction industry in APAC. Various initiatives by various countries such as the mandates by the Ministry of Land, Infrastructure, Transport, and Tourism in Japan and the establishment of unions such as China BIM Union to promote the coordinated development of the country's BIM technology, standards, and software in China, are also expected to contribute to the growth of the BIM market in APAC.

This research study is obliging for following audience:

  1. End users of BIM software and services such as construction managers/general contractors, architects, owners, engineers, and others 
  2. Building information modeling (BIM) software and service providers
  3. Research organizations and consulting companies
  4. Associations, organizations, forums and alliances related to BIM
  5. Government bodies such as regulating authorities and policy makers
  6. OEMs – white label manufacturing for others in bulk volume
  7. Industry associations
  8. Market research and consulting firm

The major players in the BIM market are Autodesk Inc. (U.S.), Nemetschek SE (Germany), Trimble Navigation Limited (U.S.), Bentley System, Inc. (U.S.), Asite Ltd. (U.K.), AVEVA (U.S.), RIB Software AG (Germany), Dassault Systèmes (France), Archidata Inc. (Canada), Intergraph Corporation (U.S.), Beck Technology, Ltd. (U.S.), Computers and Structures, Inc. (U.S.), Robert McNeel & Associates (U.S.), and Cadsoft (U.S.).Download PDF Brochure "Building Information Modeling (BIM) Market by Type (Software, Services), Project life cycle (Pre-construction, Construction, Operation), Application (Buildings, Civil Infrastructure, Oil & Gas, Industrial, Utilities), Geography - Global Forecast to 2022" research report at .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Directors (25%) and others (40%) from various key organizations operating in the Building Information Modeling (BIM) Market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%) and Row (5%).

Research Coverage: The report on the BIM market segments the market by type, project lifecycle, application, and geography. Depending on the type, the BIM market is segmented by type as software and services. Depending on various phases of project lifecycle, the BIM market is segmented on the basis of project lifecycle into pre-construction, construction, and operation. Depending on the adoption of BIM for various applications, the BIM market is segmented on the basis of applications, namely, buildings, civil infrastructure, oil & gas, industrial, utilities, and others. Lastly, the global BIM market is segmented into four regions, namely, North America, Europe, APAC, and RoW.

On a related note, another research titled Building Automation System Market Global Forecast to 2022 says, the building automation system (BAS) market was valued at $53.66 billion in 2016 and is expected to reach $99.11 billion by 2022, at a CAGR of 10.73% between 2017 and 2022. BAS market for security and access control systems expected to grow at the highest rate during the forecast period. BAS market in APAC likely to grow at the highest rate during the forecast period. Companies such as Honeywell International Inc. (U.S.), Siemens AG (Germany), Johnson Controls International PLC (Ireland), Schneider Electric SE (France), United Technologies Corp. (U.S.), Robert Bosch GmbH (Germany), Legrand SA (France), Hubbell Inc. (U.S.), ABB Ltd. (Switzerland), Ingersoll-Rand Plc (Ireland), Lutron Electronics Co., Inc. (U.S.), Crestron Electronics, Inc. (U.S.) and Building IQ (U.S.) have been profiled in this 189 pages research report available at .

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