PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226442
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226442
Global Building Information Modelling (BIM) Market is valued approximately at USD 6.90 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 15.2 % over the forecast period 2022-2029. Building Information Modelling (BIM) is the process maintained by several tools and technologies including the generation and management of digital representations of physical and functional features of places. The building information models (BIMs) are the files which can be obtained, replaced or networked to assist decision-making involving a building or other built asset. BIM is used in the construction sector for the purpose of designing and managing projects during their life cycle. Rapidly increasing number of construction projects followed by rising urbanization worldwide are the major factors responsible for high CAGR of the market over the forecast period.
For instance, as per India Brand Equity Foundation (IBEF) estimates - Indian Government announced plan to spend USD 1.4 trillion on infrastructure during 2019-23 to promote sustainable construction in the country. Moreover, increasing government mandates for BIM adoption is also a key factor boosting the adoption of BIM around the world. For instance, in December 2019 Government of India through its think tank NITI Aayog announced a plan to adopt the latest building information and modelling (BIM) technology to fast-track construction work. Further. the government is planning to optimize cost of housing construction by implementing BIM. Hence, governmental bodies mandating the adoption of BIM, also encourage the demand for BIM among the end-users. Also, growing use of AR/VR and adoption of green building infrastructure would create lucrative growth opportunities for the market during the forecast period. However, high cost of BIM solutions is the major factor anticipated to hamper the growth of global Building Information Modelling (BIM) market during the forecast period 2022-2029.
The regional analysis of global Building Information Modelling (BIM) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region in terms of revenue and market share owing to favorable regulations enforced by the government for the adoption of BIM coupled with increased adoption of cloud-based engineering software in the region. However, Asia-Pacific is expected to exhibit a high growth rate over the forecast period of 2022-2029 owing to growing number of construction projects in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable