Building information modeling software market 2022-2026; A descriptive analysis of the five forces model, market dynamics, and segmentation

NEW YORK, Jan. 30, 2023 /PRNewswire/ — According to Technavio, the global building information modeling software market size is estimated to grow by USD 18.05 billion from 2022 to 2026. The market is estimated to grow at a CAGR of 20.12% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 34%. Get deeper insights into the market study. Buy the report!

Building information modeling software market – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• Interpretation of porter’s five models helps to strategize the business, for entire details – Download Sample Report

Building information modeling software market – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Building information modeling software market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on product (software and services) and geographic (North America, Europe, APAC, Middle East and Africa, and South America).

• The market growth will be significant in the software segment during the forecast period. BIM software standardizes the construction process by enabling efficient planning, designing, construction, and management of buildings and infrastructure. It provides an opportunity for the contractors to increase the profitability and efficiency of their projects and deliver high-quality work. With the growth in the global construction industry, the demand for BIM software is expected to increase during the forecast period.

Story continues

Geography Overview
By geography, the global building information modeling software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global building information modeling software market.

• APAC will account for 34% of the market growth during the forecast period. The growth of the regional market is driven by the increasing construction of commercial and industrial buildings and economic development in countries such as China, India, Japan, and Indonesia.

Download a Sample Report

Building information modeling software market – Market Dynamics

Key factor driving market growth

• The market is driven by increasing requirements for large-scale project management.

• BIM software automates processes to ensure maximum outputs by managing resources and maintaining regular follow-up.

• Adopting BIM solutions in large-scale project management increases productivity.

• It provides an opportunity for organizations to handle project-related inquiries easily and effectively, thereby ensuring efficient process management.

• BIM solutions also automate sales leads and aid in growing sales.

Leading trends influencing the market 

• The growth of 5D BIM is identified as the key trend in the market.

• 3D BIM has certain limitations when it comes to providing a platform for the integration of time and cost factors.

• This led to the advent of 5D BIM, which considers more dimensions.

• 5D BIM allows investors to easily assess information on various factors such as productivity rates, and real-time cost estimation, among others.

• The emergence of 5D BIM will have a positive influence on the growth of the market during the forecast period.

Major challenges hindering the market growth

• The high implementation and operating cost is one of the major challenges affecting the market growth.

• Several small firms in the construction industry refrain from adopting BIM software and look for solutions that fit their budget.

• The support and maintenance costs of BIM are high as these solutions are complex and require trained professionals to use the software.

• Besides, most SMEs are reluctant to invest large amounts in small projects and are skeptical about the return on investment.

Driver, trend, and challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this building information modeling software market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the building information modeling software market between 2022 and 2026

• Precise estimation of the size of the building information modeling software market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the building information modeling software market industry across North America, Europe, APAC, Middle East and Africa, and South America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of building information modeling software market vendors

Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform

Related Reports:

• The building information modeling market size is projected to increase to USD 8.42 billion from 2021 to 2026 at an accelerating CAGR of 19.14%. The rise in the work-from-home model is notably driving the building information modeling market growth, although factors such as the low digitization rate in the construction industry may impede the market growth.

• The 5-D building information modeling market size is expected to increase to USD 840.99 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.68%. The advantages of 5-D BIM over previous versions is notably driving the 5-D building information modeling market growth, although factors such as the high implementation and operating costs may impede the market growth.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/building-information-modeling-software-market-2022-2026-a-descriptive-analysis-of-the-five-forces-model-market-dynamics-and-segmentation—technavio-301732367.html

SOURCE Technavio