Building Information Modeling Market Key Player, Advanced Technology, Applications and Business Opportunities till 2030
Market Analysis
The building information modeling market size will touch USD 8000
million at a whopping 14.9% CAGR between 2018- 2023, as per the current Market
Research Future (MRFR) analysis. Building information modeling or BIM is a form
of software that is used by AEC professionals, construction businesses, and
real estate companies for efficient project life cycle management.
Various factors are
pushing the global building information modeling market share. According to the
recent MRFR report, such features include the demand for building information
modeling in the construction industry, an increasing number of infrastructure
projects, rising urbanization, growing consciousness about the benefits of BIM
for the AEC industry, and rising commands by the government to adopt BIM.
Additional factors adding market growth include the developing economies,
growing need for infrastructure and housing development, and growing worldwide
population.
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Market
Segmentations:
The MRFR report
highlights an inclusive segmental analysis of the global building information
modeling market based on the project lifecycle, product, industry, and end
user.
By product, the global
building information modeling market is segmented into BIM training services,
BIM software, and BIM project management. Of these, the BIM software segment
will lead the market over the forecast period. It is predicted to touch USD
1300 million and at a 16.2% CAGR by 2023.
By project lifecycle,
the global building information modeling market is segmented into pre-construction,
operation, and construction. Of these, the pre-construction segment will
dominate the market over the forecast period. It is predicted to touch USD 1400
million at a 14.9% CAGR by 2023.
Regional
analysis:
Building Information
Modeling Market is analyzed in North America, Asia Pacific, Europe, South
America, the middle east and Africa. North America will contribute to the
market at a high rate. The increasing use of the integrating digital and
physical world via the internet and the increasing traction and popularity of
mixed reality are major factors driving the market. Businesses in North America
utilize sophisticated virtual reality and augmented reality to improve the
company processes. The increasing number of audiences on social media platforms
and growing interest in games are the reason for enhancing the market in the
euro[pwan region.
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