The global building information modeling market was pegged at $5.20 billion in 2019, and is anticipated to reach $15.06 billion by 2027, growing at a CAGR of 14.3% from 2020 to 2027.
Growing environmental and energy concerns are expected to create lucrative opportunities for the market players in the coming years.
Key industry players – Autodesk, Inc., Asite Solution, Beck Technology Ltd, Bentley Systems, Incorporated, AVEVA Group plc, Dassault Systèmes, Hexagon AB, Nemetschek SE, Pentagon Solution Ltd, and Trimble Ltd.
The market across North America held the largest share in 2019, accounting for nearly two-fifths of the market, due to technological advancements and emergence of new business models. However, the global building information modeling market across Asia-Pacific is expected to register the highest CAGR of 16.7% during the forecast period, owing to rapidly increasing construction sector in countries such as China and India.
Download Sample Report (Get Full Insights in PDF – 395 Pages) at:
By component, the solution segment held the lion’s share in 2019, accounting for nearly three-fourths of the global building information modeling market, as building information modeling solutions are cheaper than services and are faster to deploy. However, the service segment is projected to manifest the highest CAGR of 16.7% during the forecast period, due to rise in need of various different services such as managed service and professional services.
By application, the residential segment is expected to register the highest CAGR of 16.3% during the forecast period, due to the need for BIM Solution in sectors such as retail for its complex planning applications. However, the commercial segment held the largest share in 2019, accounting for nearly three-fifths of the global building information modeling market.
For Purchase Enquiry:https://www.alliedmarketresearch.com/purchase-enquiry/1075
The advent of Covid-19 has significantly impacted the global building information modeling industry.
- The cancellation of the Mobile World Congress has hugely affected the market revenue as products and solutions get the biggest exposure and companies get a chance to meet new clients and seal new partnerships at such international shows.
- During this pandemic, organizations are reluctant to invest big capital on new business models, hiring workforce, or invest on every additional expense apart from essentials, which will hamper the market growth.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: 1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 [email protected] Web: https://www.alliedmarketresearch.com Follow Us on: LinkedIn Twitter
canadatousd, PR-Wirein, Reportedtimes, Empirits, Healthfirsto, Fexti, lebc, Dthai, Research Newswire, English
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter