Global BIM in Construction Market Report and Forecast 2024-2032

Global BIM in Construction Market Outlook

The global BIM in construction market attained a value of about USD 4.38 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 15% to reach nearly USD 15.42 billion by 2032.

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Increasing Construction Activities Augmenting the Market for BIM in Construction

The growing demand for rapid construction of houses and infrastructures owing to the rising global population is surging the adoption of BIM and driving the industry growth. As the construction industry is one of the most accident-prone sectors, BIM is increasingly being deployed to identify potential risks and hazards, hence surging the safety of the workers.

With the growing requirement to efficiently predict cost information of building construction, BIM is leveraged to provide cost modelling while enhancing cost-effectiveness, thereby providing further impetus to the market for BIM in construction.

The increasing adoption of cloud-based BIM to streamline workflow while boosting cost-effectiveness in the construction industry is propelling the market growth. The wide accessibility offered by cloud-based BIM enables the quick exchange of information. It also enhances the flexibility of construction modelling, due to which it is increasingly preferred. Moreover, the development of cloud-based BIM that provides enhanced safety and security is expected to bolster the growth of the BIM in construction industry in the coming years.

BIM in Construction Market Segmentation

BIM in construction, variously known as building information modelling in construction, is a solution that is deployed to construct and design modern buildings by utilising various design methods and tools. It collects the information related to construction activities digitally to establish a continuous flow of information. It enhances the cost-effectiveness, safety, and time-efficiency of construction projects.

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The major phases of work of BIM in construction are:

• Construction
• Operation

By end-users, the market is divided into:

• Engineers
• Contractors

The market can be broadly categorised on the basis of its application segments into:

• Residential
• Non-Residential

Based on deployment model, the market is divided into:

• On-Premise
• Cloud-based

The EMR report looks into the regional markets of BIM in construction like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Integration of Artificial Intelligence (AI) in BIM to Drive the Market for BIM in Construction

The integration of the latest technologies like artificial intelligence (AI) is expected to augment the growth of the market. AI-enabled BIM software can automate and enhance the process of modelling buildings to streamline workflow. As artificial intelligence (AI) rapidly assesses a large amount of data, it is predicted to bolster the accuracy of building information modelling (BIM) software while providing meaningful insights to builders, which is anticipated to drive the market for BIM in construction. In addition, the potential deployment of AI-enabled BIM software is estimated to enhance the accuracy of construction processes, which is predicted to fuel the industry growth. With the increasing investments to boost the capabilities of BIM software, the BIM in construction industry is poised to grow robustly in the forecast period.

The rising trend of green buildings is increasing the requirement for optimal designs, building techniques, and strategies for their construction. This, in turn, is leading to a surge in the adoption of BIM to produce and analyse the capabilities of sustainable designs, which is driving the growth of the industry. Additionally, BIM also enables engineers to compare the energy and resource efficiency during construction, which is significantly contributing to the market growth.

Key Industry Players in the Global BIM in Construction Market

The report presents a detailed analysis of the following key players in the global BIM in construction market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Autodesk Inc.
• Aveva Group PLC
• Hexagon AB
• Oracle Corporation
• Procore Technologies, Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report