Construction Projects in Emerging Nations to Facilitate Market Growth of Building Information Modeling Software – Fact.MR Analysis

ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.

The report offers actionable and valuable market insights of Building Information Modeling Software. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Building Information Modeling Software Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Building Information Modeling Software market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Building Information Modeling Software

This newly published and insightful report sheds light on Market Insights of Building Information Modeling Software, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Building Information Modeling Software Market.

Providing the much-needed data reliability and consistency, the global building information modeling market is booming. The market was pegged at US$ 4.7 Bn in 2019. According to the Institution of Civil Engineers (ICE), the global construction market will grow by 85 per cent to reach US$ 15.5 Trillion by 2030 due to rapid developments in US, India and China. Skyscrapers are touching new height records, gigantic tunnels are paving the way for new transport networks, and bridges are covering more distances in an unprecedented way which is propelling the building information modeling market.

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In-Depth Assessment on Key Segments

The market is segmented on the basis of type, application, end user, and region.

TypeSoftwareServices
ApplicationBuildingOil & GasCivil InfrastructureIndustrial
End UserAECContractorsFacility Managers
RegionNorth AmericaLatin AmericaEuropeAPACMEA

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Developing Competitors to Use Innovation To Gain Traction

The overall market is highly fragmented with few leading players of building information modeling providing specific application modules.

Some of the key developments in the market are:

  • In November 2020, Autodesk announced the launch of a new cloud-based AEC which has the ability to connect the Autodesk Construction Cloud with BIM 360.
  • In October 2018, Hexagon AB, a global leader in digital technologies, announced the acquisition of Bricsys, a fast-growing CAD (computer-aided design) software developer. The purchase is targeted at the provision of building technology solutions.

Building information modeling is a reliable vehicle for the submission and exchange of information during every construction project.

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Key Takeaways from the Building Information Modeling Market

  • Fact.MR reports that demand for building information modeling software segment will increase at a striking CAGR of 11% through 2027.
  • The major factors driving the growth of the building information modeling market is the rapid development of construction activities around the world.
  • Government regulatory organizations are also taking measures to increase the adoption of building information modeling in their respective countries and to heighten the demand for building information modeling.
  • The biggest market presently for building information modeling is North America, which is the most technically sound hemisphere with an integrated and sophisticated construction management system
  • Intense public and private space projects in U.S. cities such as Chicago and New York have driven North America to meet a significant 10% of the global market demand.

“Thanks to the implementation of building information modeling in various verticals, many new product developments and computer models have been introduced. Development in the commercial sector, such as retail and office buildings, is leading the building information modeling market,” says the Fact.MR analyst

More Valuable Insights on Building Information Modeling Software Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Building Information Modeling Software, Sales and Demand of Building Information Modeling Software, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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