New York – The global Building Information Modelling (BIM) platform is witnessing a surge due to the growing migration toward urban areas, increasing the number of infrastructure projects, according to a report by market intelligence company Straits Research. Further, the rising foreign direct investments in the emerging nations have bolstered industrialization together with the BIM market. Additionally, the favoring government regulations that have led to the mandatory adoption of the BIM software in most of the countries are anticipated to have a positive impact on the market.
BIM is used in the construction sector to generate the 3D structures and manage data throughout the lifecycle. According to the report, the growing utilization of Augmented Reality and Virtual Reality technologies, IoT to design green buildings, has fostered the growth of the BIM market. However, the high cost of investment and the slower adoption of technology in the construction sector has hampered the growth of the market.
North America dominates the BIM platform market on account of the presence of advanced infrastructure, increasing adoption of cloud services, and the presence of major key players.
- The global BIM market size is projected to reach $11.97 billion by 2030 at a CAGR of 11% from 2022 to 2030.
- The lockdown has ebbed the utilization of BIM software owing to the temporary stoppage of all the construction projects.
- The software segment caters to the highest markets share among the different offering in the BIM platform market.
- The preconstruction segment caters to the highest markets share among the different project life cycle in the BIM platform market.
- In the market for BIM, North America is anticipated to hold the largest market share.
The key players in the U.S. BIM market are Autodesk, Bentley Systems, Trimble, Arcadiasoft, Procore Technologies, Concora, Beck Technology, Computers and Structures, Robert McNeel& Associates, and 4M Company.