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Building Information Modeling Market Worth $8.9 Billion by 2024 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

23 Sep, 2019, 12:30 GMT

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CHICAGO, Sept. 23, 2019 /PRNewswire/ -- According to the new market research report "Building Information Modeling Market by Type (Software, Services), Application (Buildings, Civil Infrastructure, Industrial, Oil & gas), End-User (AEC, Contractors and Facility Managers), Project Lifecycle, and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Building Information Modeling Market is projected to grow from USD 4.9 billion in 2019 to USD 8.9 billion by 2024; it is expected to record a compound annual growth rate (CAGR) of 12.7%. The rising BIM trends and governments initiatives for the adoption of BIM are the major factors that drive market growth.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95037387

Software to account for the largest share of the building information modeling market

Software is expected to lead the building information modeling market, by type. The software is segmented further into architectural design, sustainability, structure, MEP, construction, and facility management. Architecture is expected to dominate the BIM software market. The use of BIM for architectural designs helps in integrating designs and advanced visualizations. It also helps optimize designs as per the requirements. The construction software is expected to hold a significant share of the software type. To increase productivity, a complex construction process has to be followed by strict processes and tight schedules. BIM in the construction process is mainly used for simulation, estimating, and construction analysis.

AEC to dominate the building information modeling market during the forecast period

The collaboration of architecture, engineering, and construction (AEC) process result in completing a project. BIM is among the most promising developments in the AEC segment, and it adopts various digital technologies that would help transform the AEC segment. Currently, BIM is coupled with powerful design and simulation tools that nurture greater collaboration between project teams. BIM allows AEC end-users to collaborate with the overall construction work right from the preconstruction to the operations phase.

North America to account for the largest share of the building information modeling  market by 2024

Major factors driving the growth of the building information modeling market in North America include the expectation of adoption of BIM mandates in the region, significant investments in infrastructure projects from government & private players, and initiatives taken by various organizations in these regions for the adoption of BIM in respective countries.

Browse in-depth TOC on "Building Information Modeling Market"

113 – Tables

53 – Figures

171 – Pages

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Autodesk, Inc (Autodesk, US), Nemetschek Group (Nemetschek, Germany), Bentley Systems, Incorporated (Bentley Systems, US), Trimble Inc. (Trimble, US), Dassault Systèmes SE (Dassault Systèmes, France), RIB Software SE (RIB, Germany), Asite (Asite, UK), AVEVA Group plc (AVEVA, UK), Hexagon AB (Hexagon, Sweden), Archidata Inc. (Archidata, Canada), Pöyry Oyj (Pöyry, Finland), Beck Technology (Beck Technology, US), Computers and Structures, Inc. (Computers and Structures, US), and 4M Company (4M Company, US), are the few key players in the building information modeling (BIM) industry.

Please Explore Relevant Reports:

Building Automation System Market by Communication Technology, Offering (Facilities Management Systems, Security & Access Control Systems, Fire Protection Systems, and Building Energy Management Software), Application, Region - Global Forecast to 2024 

Building Management System Market by Software (Facility, Security, Energy, Emergency, Infrastructure Management), Service (Professional, Managed), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/building-information-modeling-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source : https://www.marketsandmarkets.com/PressReleases/building-information-modeling.asp

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