DALLAS, TX / ACCESSWIRE / January 25, 2021 / According to a new market report published by Lucintel, the future of the building information modeling market looks promising with opportunities in buildings, civil infrastructure, oil & gas, industrial, and utilities. The global building information modeling market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $9 billion by 2025 with a CAGR of 9% to 11% from 2019 to 2025. The major drivers for this market are rapid urbanization, growth in infrastructure projects, and increase adoption of BIM for plan, design, and manage building project efficiently.

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In this market, BIM software and services are used in a wide range of industries for effective project lifecycle management. Software for building information modelling will remain the largest segment over the forecast period due to increasing demand in architecture, engineering, and construction (AEC) as it offers various benefits, such as interoperability between applications, easy visualization, and cost effectiveness.

Within the building information modeling market, buildings will remain the largest end use industry during the forecast period due to the increasing number of residential buildings and construction projects and increasing adoption of BIM modelling to reduce cost and delay by efficiently planning, designing, constructing and managing buildings.

North America will remain the largest region the forecast period due to wide adoption of BIM by architects, engineers, and consultants for planning, designing, and construction of residential and infrastructure projects and favorable government support for BIM modelling.

Emerging trends, which have a direct impact on the dynamics of the industry, includes development of Artificial Intelligent in BIM, Increasing demand for BIM based cloud collaboration, and emergence of modular construction and prefabrication. Bentley System, Autodesk, Nemetschek Group, Hexagon, RIB Software, EMGworks, Trimble, Dassault Systemes, Asite Solution, and Topcon are among the major building information modeling software and service providers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global building information modeling market by offering, product lifecycle, end use industry, and region. Lucintel has prepared a comprehensive research report titled 'Growth Opportunities in the Global Building Information Modeling Market 2020-2025: Trends, Forecast, and Opportunity Analysis.' This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global building information modeling market by offering, product life cycle, end use industry, and region as follows:

By Offering [$M shipment analysis for 2014 - 2025]:

• Software
  • Architectural Design
  • Sustainability
  • Structure
  • MEP
  • Construction
  • Facility Management.
• Services
  • Software Support and Maintenance
  • Project Management and Support

By Product Lifecycle [$M shipment analysis for 2014 - 2025]:

• Preconstruction
• Construction
• Operations

By End Use Industry [$M shipment analysis for 2014 - 2025]:

• Residential and Commercial Buildings
• Industrial
• Civil Infrastructure
• Oil & Gas
• Utilities
• Others

By Region [$M shipment analysis for 2014 - 2025]:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• The Rest of the World

This more than 198-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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SOURCE: Lucintel