The global BIM in construction market size was valued at $2.5 billion in 2019, and is expected to reach $7.5 billion in 2027, growing at a CAGR of 15.0% from 2020 to 2027. In 2019, North America dominated the market, in terms of revenue, accounting for 40.0% share of the global BIM in construction industry.
Use of Building Information Modeling (BIM) has created new opportunities for the construction industry to overcome the drawbacks caused by mismanagement and inadequate planning of projects. BIM has gained major importance in execution of large-scale projects. Further, BIM also offers data transparency within planners, executioners, stakeholders, and project managers to inspect over the construction projects for any short comings and risks. Use of BIM not only optimizes project duration but also manages the resources utilized for the project, which saves over-costing and wastage of resources.
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In addition, the BIM in Construction Market report outlines upstream raw materials, marketing channels, downstream customer surveys, and industry development trends that provide vital information about manufacturing equipment suppliers, major distributors, raw materials suppliers, and major customers.
The BIM in Construction Market report offers an in-depth study of the market on the basis of various prime parameters including sales, sales analysis, market size, and major driving factors. The study includes Porter’s five forces model, financial analysis, portfolio analysis, and business overview of services and products.
In addition, the report offers a SWOT analysis including information regarding driving and restraining factors of the market growth. Such statistical tools provide vital information regarding understanding lucrative opportunities in the market. The report is essential for market players and new industry entrants to devise their strategies and leverage the opportunities in the market.
The BIM in Construction Market report offers a comprehensive study of the dynamic factors including drivers, restraints, challenges, and opportunities. The drivers and opportunities aid to understand the rapidly changing industry trends and their impact on the growth of the market. In addition, the restraints and challenges help understand profitable market investments. The report includes quantitative and qualitative analyses of the market.
Covid-19 scenario:
The global Chillers report includes an in-depth analysis of the impact of the Covid-19 pandemic on the market. Moreover, it helps the frontrunners in the industry to devise new strategies to gain a competitive edge over other companies and how to deal with sudden changes in value and supply chain without compromising the credibility of the business.
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The report provides a study of the past and current market trends and evaluates the future opportunities. The BIM in Construction Marketstudy focuses on the market trends and upcoming opportunities that help understand the driving factors of the market. In addition, the report offers granular, robust, and qualitative data.
The report includes a brief summary of the market along with a SWOT analysis of the major market players and their financial analysis. The report covers a business overview and portfolio analysis of services that major companies offer. The study analyzes the recent market developments such as expansion, joint ventures, and product launches. Moreover, the study aids new business entrants and stakeholders to understand the long-term profitability of the market.
Major market players analyzed in the report:
The report includes a comprehensive study of major market players including are
Autodesk Inc., AVEVA Group, Bentley Systems, Hexagon AB, NEMETSCHEK, Oracle Corporation, Procore Technologies, Inc., Trimble, Inc., Vectorworks, Inc., and Vizerra SA. Many competitors in the BIM in construction market adopted product launch as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in November 2020, Autodesk, Inc. based in the U.S. launched the Autodesk BIM Collaborate software. The software offers solutions, such as design collaboration and model coordination, which assist in aligning and executing high-quality designs while ensuring proper workflow on site. In addition, Autodesk also launched the Autodesk Build software, which includes the benefits of the PlanGrid software and BIM 360 software, which are used in field collaboration and project management, respectively. This enhances the product portfolio of Autodesk in the BIM in construction market.
The study of the market players covers the company overview, price analysis, and value chain, along with portfolio analysis of services and products. These players have adopted various strategies such as partnerships, new product launches, joint ventures, and mergers & acquisitions to maintain their foothold in the market.
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