Building Information Modeling (BIM) Market - Wide-Ranging Benefits of BIM Realized by AEC Industry, And Growing Government Initiatives for Adoption of BIM is Expected to Lead Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 11.8% from 2022 to 2028

Building Information Modeling
  • Building Information Modeling Market

As stated in our extensive report, the Global Building Information Modeling (BIM) Market accounted for USD 5,721.4 Million in the year 2021.

Building information modeling (BIM) is a software modeling approach that allows architects, engineers, and contractors to coordinate the design, construction, and operation of a structure. Numerous people from many professions are involved in a commercial building, including architects, engineers, business experts, contractors, tradespeople, construction workers, and others. Without BIM, each of these people would have to work on a project on their own, and when they get together, their plans may be incompatible. Problems are sometimes not discovered until the construction phase has begun, resulting in costly change orders and schedule delays. Building information modeling allows for real-time collaboration among all parties engaged in a construction project, resulting in high cost, safety, and efficiency savings. As an outcome, BIM has become one of the most prominent construction innovations in recent years.

Unlike a simple drawing, BIM software is used to produce a realistic model of a project that is aware of all of the building's features. Early discovery of difficulties when conflicting parts in a building's design are identified during the modeling process, preventing costly adjustments during construction, is one of the benefits of BIM in construction. Workflows are built automatically using BIM software, and on-site changes update the process for everyone on the site. The second benefit is better worker safety since workers now have immediate access to detailed information about each task, resulting in increased risk awareness and focus. These are some of the advantages BIM delivers to the construction industry, as well as improvements in structural integrity, environmental design, material usage, energy efficiency, etc. Finally, because BIM is used across a building project's full lifecycle, looking at the complete process from beginning to end can be beneficial. Due to these factors, BIM software drives the market growth.

North America is the dominated the Market in 2021. In addition, increasing urbanization and technological adoption in the construction area are also expected to support the market's growth in the near future.

Some of the key players in the Global Building Information Modeling (BIM) Market include- Autodesk, Nemetschek, Bentley Systems, Trimble, Dassault Systems, Rib Software, Asite, Aveva, Hexagon, Archidata and others.