Global Market for BIM software is projected to grow at a 14.08% CAGR during the forecast period (2020–2026).
Governments of various countries are coming up with initiatives and BIM implementation strategies to increase the adoption of BIM in the architecture, engineering, and construction (AEC) industry. BIM provides an effective tool to develop and expand the digital models for design, construction, and workflow of projects, and has transformed industries in terms of communication, problems solving capabilities, and accurate results.
The global BIM software market has been segmented based on software model, applications and end-user, and region.
Based on software model, the BIM software market has been segmented into 3D, 4D, 5D, and others. The 3D segment accounted for the largest market share in 2019.
Based on application, the BIM software market has been segmented into building, public infrastructure, industrial, and others. The buildings segment accounted for the largest market share in 2019.
Based on end-user, the BIM software market has been segmented into architects, contractor, engineers, and others. The architects segment accounted for the largest market share in 2019.
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The geographic analysis of the BIM software market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to be the largest market for BIM software during the forecast period. North America has been segmented into three countries, namely, the US, Canada, and Mexico
The US is the leading country-level market for BIM in North America. Government support for the adoption of BIM, high technical expertise, and the increasing number of construction projects are some of the prime factors driving the market growth of BIM in the US. The building information modelling (BIM) software market in Canada is expected to register the highest CAGR during the forecast period. The Mexico building information modelling (BIM) software market is expected to be a growing market in the coming years owing to factors including initiatives by government and educational institutes for developing skills and expertise of contractors, builders, and engineers regarding the use of BIM software for their projects.
Europe accounts for the second-largest market share in the building information modelling (BIM) software market due to the growing construction sector and high demand for these software solutions by contractors, architects, and building owners in the region. The UK is the highest revenue-generating country in the European BIM market. The construction industry in France is one of the largest in the world and is increasingly adopting BIM software for its projects. BIM is being used in Austria for the construction of large building projects; however, the use of BIM is still not mandatory for small scale projects in Austria.
Asia-Pacific is expected to be the fastest-growing regional market in the BIM software market due to a high focus on digitalization, increasing investments by government and real-estate sector in the development of advanced infrastructure for residential, industrial, and commercial sectors, and increasing adoption of cloud platforms in the region. China is the leading BIM software market in Asia-Pacific as the country is significantly adopting advanced technologies to improve the competitive edge of its design and construction industry. Japan BIM software market is expected to register a steady growth during the forecast period due to the highly matured and experienced construction market. The BIM software market in India is expected to register the highest growing CAGR due to the high growth rate and rapid development of the construction industry in India.
South Korea is one of the early adopters of implementing BIM processes to deliver construction projects in the country. This segment is expected to have a considerable growth rate due to the presence of countries such as Vietnam, Singapore, and Malaysia, that are highly focused on developing advanced technology-enabled infrastructure in their respective countries.
In South America, there has been notable progress in the adoption of BIM software. Noticeable advancement was made at the end of the past decade, with the last two years being the most active in terms of deployment of BIM software. Furthermore, several other South American countries, including Argentina and Brazil, have announced similar initiatives.
In the Middle East & Africa, around 20% of the AEC organizations are using or are in the process of adoption of BIM. The Middle East consists of countries such as Saudi Arabia, the UAE, Egypt, South Africa, Nigeria, and the rest of the Middle East & Africa.
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