New York, US, March 02, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), BIM Software Market By Software Model, Application, End User Forecast Till 2030 The BIM software market is projected to garner vast traction in future years.
The proliferation of digitalization and automation in construction sectors worldwide would drive market growth. According to a leading research firm Market Research Future (MRFR), the global BIM software market is projected to garner USD 25.61 billion by 2030, growing at a 14.9% CAGR throughout the assessment period (2022 - 2030).
Major Players in building information modeling software market:
- Autodesk Inc.
- Trimble Inc
- PKPM (Beijing Jianli Technology Co., Ltd.)
- Glodon Company Limited
- Integrated Environmental Solutions Limited (IES Ltd.)
- Shanghai Luban Software Co., Ltd.
- Innovaya, LLC.
- Beijing Hongye Tongxing Technology Co., Ltd.
- Beck Technology Ltd.
- Aveva Group Plc
- Cadsoft Corporation
- Rib Software SE
- Nemetschek SE
- Siemens AG
- Bentley Systems
- Oracle Corporation
- Dassault Systems SA
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BIM software helps contractors and engineers improve their design efficiency and reduce the cost & time needed to curtail the errors occurring during construction projects. BIM software increases the emphasis on value-added tasks, improves site safety, and reduces the wastage of raw materials, providing a better understanding of construction design concepts. The adoption of BIM software is increasing among architects, engineers, and contractors.
Factors such as the tremendous growth in the adoption of construction software and industry 4.0 would support the BIM software market growth throughout the assessment period. Also, rising numbers of modern construction and pre-factored building projects and increasing demand for green buildings would allow the BIM software market to grow vigorously.
BIM Software Market Report Scope:
| Report Metrics | Details |
| BIM Software Market Size by 2030 | USD 25.61 Billion |
| BIM Software Market Growth | 14.9% CAGR during 2022-2030 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increase in demand for green building |
Besides, rising uses of BIM software to ensure improved quality and productivity while minimizing the required construction period and cost are projected to boost the market growth. Ever-increasing population and rapid industrialization & urbanization worldwide are estimated to influence the BIM market share. Moreover, the burgeoning construction industry worldwide would escalate market demand.
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The lack of knowledge about BIM software advantages restrains the market growth. The BIM software industry faces significant challenges, such as the lack of awareness of BIM software's advantages that hampers market growth a great deal. The use of BIM is still not mandatory for small-scale projects in various countries. This could restrain the market growth, slowing down the sales and adoption of the software in the coming years.
Global BIM Software Market – Segments
The market report is segmented into software models, applications, end-users, and regions. The software model segment is further bifurcated into 3D, 4D, 5D, and others. Based on the applications, the BIM software market is segmented into buildings, public infrastructure, industrial, and others. The end-user segment is segmented into architects & engineers, contractors, and others. By regions, the market is segmented into the Americas, Asia-Pacific, Europe, and the rest of the world.
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Global BIM Software Market – Regional Analysis
North America has always led the BIM software market and could maintain its winning streak throughout the assessment period. Factors such as the presence of major players such as Autodesk and Bentley systems and increasing investments in developing advanced infrastructure facilities in the region drive the BIM software market industry.
The growing construction sector and high demand for these software solutions by contractors, architects, and building owners in the region foster market growth. The US and Canada account for major shares in the regional market. Furthermore, increasing the demand for green building structures influences the BIM software market size.
Global BIM Software Market – Competitive Landscape
The worldwide BIM software market appears fragmented due to the presence of several established industry players. Global vendors are increasingly facing fierce rivalry from each other and local firms, who are growing aware of the industry's regulations and suppliers. Therefore, eminent players seek opportunities to integrate deeply across the extended value chain while focusing on expanding production facilities, R&D investments, and M&A activities to gain impetus.
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Industry/ Innovation/ Related News
Jan.17, 2023 - Vectorworks, Inc., a leading design and BIM software provider, announced various updates to their Vectorworks 2023 product line. The move follows current trends throughout the AEC industry's design phases, focusing on simplifying the process of collaboration. Given the proliferation of remote work, the company upgraded its software by leveraging new technology to make the 3D model creation process more accessible.
