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Building Information Modeling Market Size Estimated to be USD 15,700 Million By 2026: Global Report from Facts & Factors

Building Information Modeling Market New

Building Information Modeling Market New

Global building information modeling market to increase from USD 5,200 Million in 2019 to reach USD 15,700 Million by 2026 at CAGR of 18% from 2020 to 2026.

NEW YORK, UNITED STATES, February 25, 2020 /EINPresswire.com/ -- Facts and Factors have authored “Building Information Modeling Market By Solution segment, By End-user and By Vertical segment(Commercial, Residential, Infrastructure, Institutional, Industrial): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”.

According to the research report, the global building information modeling market in 2019 is approximately USD 5,200 Million and is anticipated to reach around USD 15,700 Million by 2026. The anticipated CAGR for the building information modeling market is around 18% from 2020 to 2026.

Building information modeling is a method that is assisted by various tools, technologies account and contracts that involve creating and managing digital representations of the physical and functional characteristics of locations. Current Building information modeling software is used by individuals, businesses, construction, and government agencies designing constructing and maintaining various physical infrastructures such as ports, tunnels, gas, communications, water, waste, electricity, roads, bridges, etc. Throughout the construction industry, building knowledge modeling is used to plan and execute buildings during their life-cycle. The overall value chain of the market for building information modeling is closely linked to traditional building processes. BIM is growing quickly and shaping into a strong, well-connected chain in the past years.

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(The sample of this report is readily available on request. The free report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Increasing numbers of construction projects, increasing global knowledge of building information modeling and associated benefits, and growing demand for automated models in the engineering, design, and construction industries have encouraged its adoption in the construction sector, especially for commercial and infrastructure projects. In addition, government mandates relating to the use of building information modeling in the design of buildings will improve its growth around the world. With the increase in the number of construction projects and also the increasing demand for automated model in various sectors will act as a driver for this market and also government mandates to use this software in the design of the building will boost its growth in the market. But, the high cost of BMI can also slow down the market as the investment is high for the market.

Based on segmentation the market can be classified on the basis of by solution, by end-user, and by vertical. Based on the solution, the software segment accounted for the largest share of around 75% in the global building information modeling market in 2019. Further, by end-user segment architects accounts for the market share of around 35% and is expected to dominate in the target market. Furthermore, the market can be segmented into vertical, which includes commercial, residential, infrastructure, institutional, and industrial in which infrastructure accounts for a major share of around 40% and is expected to dominate in the building information modeling market.

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Based upon the region the global building information modeling market has been categorized as North America, Europe, Latin America, APAC, and the EMEA. In terms of revenue, Europe is estimated to dominate the world market relative to markets in other regions during the 2019-2026 forecast period. Due to the high adoption rate of advanced technology Europe had a major market share for the building information modeling market.

The major players in the building information modeling industry are Aecom, Asite Solutions Limited, Beck Technology Ltd, Nemetschek AG, Synchro Software Ltd, Pentagon Solutions Ltd, Bentley Systems Inc, and Dassault Systemes Sa, Trimble Navigation Ltd.

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Key Insights from Primary Research

1) As per our primary respondents, the Global Building Information Modeling Market is set to grow annually at a rate of around 20%
2) It was established through primary research that the Global Building Information Modeling Market was valued at around USD 5,100 million in 2019
3) The “Software” category, on the basis of solution segmentation, was the leading revenue-generating category accounting for around 75% share, in 2019
4) On the basis of end-user segmentation, the “Architects” category held the leading share at more than 35%, in 2019
5) On the basis of vertical segmentation, the “Infrastructure” category held the leading share at more than 40%, in 2019
6) Based on the region, Europe is expected to dominate in the target market

Browse detail report with in-depth TOC @ https://www.fnfresearch.com/building-information-modeling-market

With the increase in the number of construction projects and also the increasing demand for automated model in various sectors will act as a driver for this market and also government mandates to use this software in the design of the building will boost its growth in the market. But, the high cost of BMI can also slow down the market as the investment is high for the market.

The taxonomy of the Global Building Information Modeling Market industry by its scope and segmentation is as follows:

Global Building Information Modeling Market: By Solution Segmentation Analysis

Software
Services
Project management

Global Building Information Modeling Market: By End-user Segmentation Analysis

Architects
Contractors
Engineers
Others

Global Building Information Modeling Market: By Vertical Segmentation Analysis

Commercial
Residential
Infrastructure
Institutional
Industrial

About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

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