Latest News- Building Information Modeling (BIM) Software Market: Architects is expected to lead the End-user segment during 2025-2029

The Building Information Modeling (BIM) Software Market is being driven by Increasing need for management of large-scale projects

The Building Information Modeling (BIM) Software Market is expected to grow at a CAGR of 24.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13098.1 million. In the construction industry, the adoption of Building Information Modeling (BIM) software has revolutionized project planning and execution. While 3D BIM provides a visual representation of a building's design, it lacks the integration of time and cost factors. This limitation gave rise to the development of 5D BIM, an advanced version of BIM that considers five dimensions - length, width, depth, time, and cost. With 5D BIM, investors can access valuable information such as deviations from the pre-determined project schedule and budget, an in-house database with comprehensive cost and labor productivity rates, efficient preparation of cost schedules, and real-time cost estimation for effortless comparison with the target cost. The emergence of 5D BIM signifies a significant evolution in BIM technology, and the development of 5G BIM solutions is expected to positively impact the growth of the global Building Information Modeling (BIM) software market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Architects
  • AEC engineering offices
  • Contractors
  • Facility managers
  • Others
• Deployment
  • On-premises
  • Cloud-based
• Type
  • Construction
  • Pre-construction
  • Post-construction
• Application
  • Commercial
  • Industrial
  • Public infrastructure
  • Residential
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for management of large-scale projects
• Reduction in design time
• Growth of global construction industry

However, the market also witnesses some limitations, which are as follows:

• High implementation and operating costs
• Challenges from open-source platforms
• Interoperability issues

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Market Scope in Building Information Modeling (BIM) Software Market Research Report

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Research Analysis Overview

The Building Information Modeling (BIM) software market encompasses digital solutions that create and manage detailed, multi-dimensional representations of construction projects. These tools offer cost estimation, budgeting, and cost control functionalities, enabling efficient planning and modeling for contractors, construction operations, and the government-mandated sector. BIM technology integrates with IoT sensors for facility management and maintenance, while offering project visualization and decision-making processes. Both on-premise and cloud-based solutions cater to commercial and residential sectors, streamlining construction schedules, sequencing plans, and design phases.

Market Research Overview

The Building Information Modeling (BIM) software market falls under the application software segment of the global IT software industry. BIM technology enables digital representations of physical and functional aspects of buildings, requiring specialized software for implementation. BIM software companies offer solutions that include cost estimation tools and budgeting features to enhance project efficiency. Technavio's market analysis covers BIM software providers, calculating market size based on their collective revenue from BIM application sales and subscriptions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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