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 building designs, it lacks the integration of time and cost dimensions. This gap led to the emergence of 5D BIM, an evolution of 4D BIM, which incorporates these additional dimensions. 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, and efficient preparation of cost schedules. Real-time cost estimation enables easy and quick comparison with the target cost, thereby streamlining decision-making processes. The development of 5G BIM solutions is expected to further enhance the capabilities of BIM software, positively impacting 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 a range of tools designed to enhance construction and design processes. These include collaboration and management tools, BIM data management systems, and performance metric assessment. Integration of BIM software with industry standards, training programs, and certification are also crucial. Model-based estimation, comparison, and deployment are key features, along with updates, support, and security. Cloud rendering services and design visualization tools offer enhanced functionality, while customization, workflow automation, and data security protocols ensure efficient project execution. Licensing models, validation methods, and model review processes are essential components of the BIM software market.

Market Research Overview

The global IT software market encompasses businesses specializing in the creation and distribution of application and system software. This sector includes enterprises developing software for specific business or consumer applications, such as parametric modeling for Building Information Modeling (BIM), 4D BIM simulation, and cloud-based BIM solutions. Technavio determines the market size by aggregating the revenues of organizations providing all types of IT software, including those offering cloud-based applications. This market excludes entities producing interactive home entertainment software and systems or database management software.. 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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