Market Research Report
Building Information Modeling (BIM)
|Building Information Modeling (BIM)|
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 242 Pages
Delivery time: 1-2 business days
Global Building Information Modeling (BIM) Market to Reach $13.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Building Information Modeling (BIM) estimated at US$4.8 Billion in the year 2020, is projected to reach a revised size of US$13.6 Billion by 2027, growing at a CAGR of 16.1% over the analysis period 2020-2027. Software, one of the segments analyzed in the report, is projected to record a 15.8% CAGR and reach US$7.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 17.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 15.5% CAGR
The Building Information Modeling (BIM) market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2027 trailing a CAGR of 15.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.3% and 13.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR.
Project Management Support Segment to Record 16.9% CAGR
In the global Project Management Support segment, USA, Canada, Japan, China and Europe will drive the 16.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$553.1 Million in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2027.
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