Market Overview

The global Building Information Modelling (BIM) is used in the construction sector to generate the 3D structures and manage data throughout the lifecycle. The software aids the Architecture, Engineering, and Construction (AEC) professionals to use technologically advanced ways for their projects. Further certain benefits of the software such as better collaboration, and communication, model-based cost estimation, increased productivity and prefabrication, preconstruction project visualization, and safer construction sites among others have propelled the market. Also, its complete project management and effective communication with all the people involved in the project from stakeholders to architects to construction managers and others have eased the operations and improved the transparency.

The global Building Information Modelling is expected to grow from USD 3.8 Billion in the year 2019 to USD 9.8 Billion in the year 2027 Billion at a compound annual growth rate (CAGR) of 11% in the forecast period.

Rapid Urbanization and Surge in Infrastructure Projects

Growing migration into urban areas and growing Foreign Direct Investment (FDI) in the engineering and construction sectors of emerging economies, such as India and Brazil, are pushing the demand to cater to the increasing amount of population. The world's population will grow to 8.1 billion by 2025 and cross ~10 billion by 2050 according to the UN. Further, the graph below shows FDI by area. The emerging economies have seen a 6% rise in the FDI, while developed nations have seen a significant decline. The top 100 multinational enterprises account for one-third of the R&D worldwide, thereby being a significant part of the investment in developing countries. Furthermore, building information modelling is gaining popularity among the projects across the globe mainly due to the 3D model-based framework thus a surge in the building information modelling market growth is anticipated shortly.

Increasing FDI has increased new projects backed by technology to originate in these economies, such as the development of smart cities. Some of the major architectural excellence projects completed recently are listed below:

Mandatory Adoption of BIM Due to the Substantial Government Encouragement

Building Information Modelling is one of the most effective software used during the complete lifecycle of the project, has been mandatory to achieve certain BIM levels on construction projects across the globe. Most of the countries that follow the BIM mandate have to comply with withcertain levels of BIM Maturity. For instance, in 2016, the United Kingdom Government made it essential to adopt at least level 2 of the BIM software in every government construction project. Further in Singapore, the Building and Construction Authority (BCA) has made mandatory for using BIM during the construction by making the practitioners submit architectural or engineering plans in the BIM format for regulatory approval. Further certain countries such as United States, Brazil, Chile, Denmark, Norway, Finland, Kazakhstan, Vietnam, Japan, South Korea, and Australia among others have existing BIM mandates Besides, countries such as Mexico, Peru, Colombia, Argentina, Italy, France, Spain, Latvia, China, Indonesia, and others have planned to use BIM software recently.

The High Initial Cost of BIM

The Building Modelling Software uses advanced technologies such as 3D modelling cloud services, integrated project delivery (IPD), and others that require a high initial cost of deployment. The transition from 2D CAD to 3D will need a skilled workforce along with differential supporting hardware and software thereby increasing the cost. For instance, the Revit software is valued at approximately USD 1500 for a year, Civil 3D software is valued approximately at USD 1400 and the Alias software is valued approximately at USD 5000. Further, the additional cost of training and the services also add up to the initial cost making it difficult to adopt and thereby hampering the growth of the market

Impact of COVID-19

The pandemic had caused a lockdown and the temporary shutdown of almost all of the construction sites across the globe thus negatively impacting the construction sector and the global building information modelling market. The delays in the supply chain have resulted in shortages of material, parts, equipment, and others. Besides the Associated General Contractors of America (AGC) estimates that the epidemic triggers shortages or losses to at least 45% of contractors. Further, the restraint in the economic sector has disrupted the industry due to the lack of funds, and the unavailability of the workers. However, the uplifting of the lockdown has resumed the most of the construction projects across the globe there predicting the BIM market to gain traction shortly.

Segmental Analysis

By Offering

• Software
  • Architectural Design
  • Sustainability
  • Structure
  • MEP
  • Construction
  • Facility Management.
• Services
  • Software Support and Maintenance
  • Project Management and Support.

On the basis of offering the global BIM market is divided into software and services. The software segment caters to the maximum share owing to the presence of the major players that provide various features such as architectural design, sustainability, structure, MEP, Construction, and facility management. Further, the increasing number of smart cities and modern architectural infrastructures have bolstered the utilization of the software segment. However, the services segment is the fastest-growing segment owing to the mandatory adoption of the various services of the BIM as per some of the government regulations of certain countries.

By Project Life Cycle

• Preconstruction
• Construction
• Operations

On the basis of the project life cycle, the global BIM market is divided into preconstruction, construction, and operations. The preconstruction segment caters to the maximum share owing to visualization, conceptualization, programming, cost planning, architectural, structural, systems design, analysis, detailing, coordination, and specification. Further, the increasing investments by the developing countries in the construction sector have led to the surge in the preconstruction planning of the modernized structures. Further, the construction sector is anticipated to grow at a faster rate owing to its advantages that lead to accelerating the construction time, and the ability to automatically update the construction plans as the model develops thus aiding in saving time and making changes in the project if necessary. Further, the operations segment caters to a moderate share in the BIM market.

Regional Analysis

North America

North America is a predominant region across all the regions in the BIM market owing to the presence of major market players namely Autodesk (the U.S.), Bentley Systems (the U.S.), Trimble(the U.S.), Archidata (Canada), Arcadiasoft(the U.S.), Procore Technologies(the U.S.), Concora (the U.S.), Beck Technology(the U.S.), Computers and Structures(the U.S.), Robert McNeel& Associates (the U.S.), 4M Company (the U.S.), and CCT International (Canada) among others. Additionally, the presence of advanced infrastructure has led to the higher adoption of the cloud-based engineering services that will aid the demand for building information modeling. For instance, the region hasthe presence of the top three cloud service providers such as AWS, Azure, and Google. Further, the increased adoption in the industrial and the commercial sector has bolstered the growth of the market

Asia-Pacific

The Asia Pacific is anticipated to be one of the fastest-growing regions owing to the availability of cheap labor and improving economic conditions and the advancements in the technical infrastructure. Additionally, in recent years, the surge in the inflow of foreign direct investment (FDI) has led to the creation of new projects. The region is also a key site for excellently designed infrastructures. For example, GBA International Sports and Cultural Center developed by DP Architects, a 3000,000 sqm sports center. Tokyo Sky Tree, one of the tallest towers in the world developed by Nikken Sekkei.  DENSO Global Training Center ‘AQUAWINGS’ in Japan, developed by Nikken Sekkei.  In China, the World Trade Centerwas developed by Aedas. Further countries such as Japan, South Korea, Australia, and Singapore have made particular obligations to adopt BIM. Meanwhile, other countries such as China and India are expected to implement BIM in the coming years.

Key Players

As per Straits Research analysis, the key players of the global Building Information Modelling market are Autodesk(the U.S.), Nemetschek (Germany), Bentley Systems(the U.S.), Trimble(the U.S.), DassaultSystèmes (France), Rib Software (Germany), Asite (the U.K.), Aveva (the U.K.), Hexagon (Sweden), Archidata (Canada), Acca Software (Italy), Arcadiasoft(the U.S.), Procore Technologies(the U.S.), Concora(the U.S.), Pöyry (Finland), Beck Technology(the U.S.), Computers and Structures(the U.S.), Robert McNeel& Associates(the U.S.), 4M Company (the U.S.), and CCT International (Canada) among others

Recent Developments

• On October 23, 2018, Hexagon acquired Bricsys - a fast-growing CAD (computer-aided design) software developer. The acquisition aims at strengthening the construction portfolio of the Architecture, Engineering, and Construction (AEC) market
• On March 11, 2020, Bentley System acquired GroupBC –one of the U.K. based in cloud services for construction information management. This acquisition aims at pooling the resources of both the companies and expands its infrastructure revolution requirements thereby reinforcing its position in the U.K. market

Building Information Modelling Market Segmentation

By Offering

• Software
  • Architectural Design
  • Sustainability
  • Structure
  • MEP
  • Construction
  • Facility Management.
• Services
  • Software Support and Maintenance
  • Project Management and Support.

By Project Life Cycle

• Preconstruction
• Construction
• Operations

By Applications

• Buildings
• Industrial
• Civil Infrastructure
• Oil & Gas
• Utilities
• Others

By End-User

• AEC Professionals
• Consultants and Facility Managers
• Others

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• The U.K
• Italy
• France
• Spain
• Germany
• The Rest of Europe

The Middle East and Africa (MEA)

• Saudi Arabia
• Turkey
• Egypt
• South Africa
• The Rest of MEA

Asia-Pacific

• India
• China
• Japan
• Australia
• South Korea
• The Rest of Asia-Pacific

South America

• Columbia
• Brazil
• Chile
• Peru
• Argentina
• The Rest of South America