Market Overview:

The BIM Software Market industry is projected to grow from USD 8.41 billion in 2022 to USD 25.61 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.9% during the forecast period (2022 - 2030). The BIM software tools are gaining popularity due to their large benefits such as high return on investment, cost-effectiveness, time-saving, and many others. 

Moreover, the BIM software offers improved site safety, high emphasis on value-added tasks, reduced wastage of raw materials in construction sites, and a better understanding of design concepts. Apart from that, the growing demand for engineering solutions and feasible architecture is boosting up the global market growth in the forecast period. For instance, the worldwide market is driving the market growth due to the increasing demand for infrastructure development and the growing population. 

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Key Players:

Key Companies in the BIM Software includes,

• Trimble Inc
• Autodesk Inc.
• PKPM (Beijing Jianli Technology Co., Ltd)
• Integrated Environmental Solutions Limited (IES Ltd.)
• Glodon Company Limited
• Shanghai Luban Software Co., Ltd
• Beijing Hongye Tongxing Technology Co., Ltd
• Innovaya, LLC.
• Beck Technology Ltd

Additionally, the global market's key players and vendors have significant opportunities to generate market value due to the complex geometry extraction from point-cloud data and the smart city initiatives in countries like India. However, the lack of interoperability in the 4D (4 dimensional) simulation process can affect the BIM Software Market Growth in the upcoming years. 

Market segmentation:

The BIM Software Market Analysis highlights that the present market is segmented on the basis of applications, software models, and end-users.

The global market has been segregated into the building, industrial, public infrastructure, and others by application segment. In 2019, the buildings segment was registered to account for the largest BIM Software Market Share and is predicted to continue. 

The worldwide market has been divided into 5D, 4D, 3D, and others in terms of the software model segment. In 2019, the 3D segment was projected to register the largest market share and further projected to continue the same in the forecast period. On the basis of the end-user segment, the current market has been classified into engineers, contractors, architects, and others. In 2019, the architect's segment was anticipated to account for the largest market share.

Regional Analysis:

On the basis of geographical locations, the global market has been segmented into various parts such as North America, Asia-Pacific, the Middle East & Africa, Europe, and South America.

As per the BIM Software Market Forecast report, the North American region had dominated the global market for the year 2019. Here, the North American regional market is propelling the market value due to the rising investments in advanced infrastructure facilities and the presence of key players like Bentley systems and Autodesk in the region.

Furthermore, the second-largest share is contributed by the European region. This region is expected to grow due to the high demand for BIM software solutions among the region's architects, contractors, and building owners. Moreover, the increasing construction sector across the region is driving regional market growth in the upcoming years. 

Industry News:

In September 2019, the prominent market player Glodon Company Limited declared its partnership with a consultation firm in the UK named Bill Solutions. This partnership has aimed to strengthen the standardization of construction and promote the internationalization and development of the construction industry of China. Further, this partnership is expected to strengthen the brand, grow business opportunities, and promote the product in the UK. 

• Autodesk and Bentley Systems Announce Partnership to Accelerate BIM Adoption

Autodesk and Bentley Systems have announced a strategic partnership to accelerate the adoption of Building Information Modeling (BIM) in the construction industry. The partnership will combine the two companies' strengths in BIM software, data, and services to create a more integrated and collaborative platform for design, construction, and operations.

• Trimble Launches New BIM Software for Infrastructure Projects

Trimble has launched a new BIM software solution for infrastructure projects. The software, called Trimble Connect, is designed to help engineers, architects, and contractors collaborate more effectively on complex projects. Trimble Connect includes features for 3D modeling, clash detection, and data management.

• Siemens and Autodesk Partner to Develop Integrated BIM Solution for Buildings

Siemens and Autodesk have announced a partnership to develop an integrated BIM solution for buildings. The solution will combine the two companies' strengths in building automation, engineering, and design software. The goal of the partnership is to create a more efficient and collaborative way to design, build, and operate buildings.

These are just a few of the latest industry news from the BIM Software Market. The market is growing rapidly, and there is a lot of innovation happening in the space. BIM software is becoming increasingly sophisticated, and it is being used on a wider range of projects. As the market continues to grow, we can expect to see even more innovation and adoption of BIM software.

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Key drivers of growth in the BIM Software Market:

• Increased demand for green buildings

There is a growing demand for green buildings, which are designed to reduce energy consumption and environmental impact. BIM software can help architects and engineers to design and build more sustainable buildings.

• Increasing complexity of construction projects

Construction projects are becoming increasingly complex, with more stakeholders involved and more data to manage. BIM software can help to improve coordination and collaboration among stakeholders, and it can help to manage data more effectively.

• Government regulations

Some governments are mandating the use of BIM software for certain types of construction projects. This is driving demand for BIM software in these jurisdictions.

Overall, the BIM Software Market is expected to grow rapidly in the coming years. The market is being driven by a number of factors, including the increased demand for green buildings, the increasing complexity of construction projects, and government regulations.

About Market Research Future (MRFR):

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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