New York, April 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Building Information Modeling Market By Component, By Building Type, By Project Life Cycle, By Deployment Type, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06064790/?utm_source=GNW
With the help of this software, architects, engineers, and construction workers can get the extra tools & mediums for creating abstract design-themed buildings. The growth of the BIM market is expected to be fueled by the requirement for electrical, mechanical, and plumbing designs along with regulations for BIM adoption.

In the last few years, the world has witnessed various developments in construction projects & activities. Different sections such as housing apartments, big buildings, commercial spaces, government complexes, and others fall under such activities. In addition, construction SMEs increasingly developing with a rapid pace and have fueled the market for BIM across the globe. Moreover, specific laws have been formulated by government that must be followed by construction organizations to adopt BIM exclusively for public sector buildings.

Due to the surge in globalization & industrialization, there is an increasing need for the development of large-scale buildings and projects such as the construction of roadways, tunnels, and dams, and hence, considerable increment in the expenditure by the government and private sector has been witnessed. The growth of the market is supplemented by various advantages offered by BIM to Architecture, Engineering and Construction (AEC) including efficient collaboration, mode based cost forecasting among others.

Component Outlook

Based on Component, the market is segmented into Solution and Services. Among all components, the solution segment procured the maximum revenue share of the global building information modeling market in 2019 and would exhibit a similar trend throughout the forecast period. Massive adoption of building information modeling solutions among the AEC industry is responsible for this high share. The majority of companies have adopted these solutions to streamline all construction activities together like procurement and data management, which enhance the overall effectiveness of construction activities.

Building Type Outlook

Based on Building Type, the market is segmented into Commercial, Industrial and Residential. The commercial segment garnered the maximum revenue share. This is due to the development of towns and the establishment of malls & recreational grounds. The growth of the segment is boosted by the demand for energy-efficient buildings and sustainability schemes.

Project Life Cycle Outlook

Based on Project Life Cycle, the market is segmented into Preconstruction, Construction and Operations. Preconstruction would be the major segment of the market. BIM includes the total process right from the preconstruction phase to the operation phase. The first phase is Preconstruction. This phase comprises of programming, visualization, cost planning, specification, detailing, conceptualization, architectural, structural, systems design, analysis, and coordination.

Deployment Type Outlook

Based on Deployment Type, the market is segmented into On-premise and Cloud. On the basis of deployment mode, the on-premise segment emerged as the leading segment of the building information modeling market in 2019 and would show the same trend throughout the forecast period. A surge in concerns regarding data security about construction projects, which is extremely beneficial, is responsible for the segment growth.

Application outlook

Based on Application, the market is segmented into Planning & Modelling, Asset Management, Construction & Design, Building System Analysis & Maintenance Scheduling and Others. The asset management segment would display maximum growth during the forecast period, as the BIM helps in improving the capacity of infrastructure owners and their suppliers to execute and create tools, processes, and collaborative working practices that maximize asset costs and performance over the complete life cycle of assets.

End User Outlook

Based on End User, the market is segmented into Architects/Engineers and Contractors & Others. The architect and engineer segment would lead the revenue share. Using this software, the designers and builders can better comprehend the imminent challenges of the projects in advance. By adopting this software, facility and construction can acquire constant insights into the process. This would fuel the demand for the software.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific would display substantial growth during the forecast period, as there is the massive adoption of BIM technologies in the region, due to the thriving construction industry. The region has witnessed a booming retail sector and growth in infrastructure and these are some of the main aspects fueling the development of the building information modeling market.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Schneider Electric SE and Autodesk, Inc. are the forerunners in the Building Information Modeling Market. Companies such as Bentley Systems, Inc., Dassault Systemes SE, Trimble, Inc., Nemetschek Group, and Hexagon AB are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Autodesk, Inc., Nemetschek Group, Bentley Systems, Inc., Trimble, Inc., Dassault Systemes SE, Hexagon AB, Schneider Electric SE, Asite limited, Archidata, Inc., and The Beck Group.

Recent strategies deployed in Building Information Modeling Market

Partnerships, Collaborations, and Agreements:

Dec-2020: RIB Software, a subsidiary of Schneider Electric came into partnership with SoftwareONE Holding AG, a leading global provider of end-to-end software and cloud technology solutions. The partnership aimed to boost bringing to market the world-leading MTWO vertical cloud solution for the Engineering, Architecture, and Construction (AEC) industry across the world. Through the partnership, both companies focus on jointly leading the digitalization of the world’s largest industries.

Dec-2020: Asite collaborated with Amodal, the information management service provider. Under this collaboration, Amodal acts as a Value-Added Service Provider (VASP), assisting Asite to strengthen their relationships within the industry, and offer an improved value to prevailing customers.

Nov-2020: Spacewell, a subsidiary of Nemetschek partnered with ISS Facility Services, a facility management services company. The partnership includes updates to benefit from improved functionality and high-quality desktop and mobile UIs. Both the companies aim to grow and strengthen their business together, continuously enhancing and activating solutions that benefit the FM teams and building occupants.

Sep-2020: Tekla Structures by Trimble entered into a partnership with Metal Building Software (MBS). In this partnership, the companies have developed an exclusive connection between MBS and Tekla Structures that provides a full Building Information Modeling (BIM) process for all metal buildings. This latest workflow between MBS and Tekla Structures would offer one complete BIM solution from design & costing via detailing & fabrication for any type of metal building more precisely and in minimum time.

Jul-2020: Autodesk came into partnership with eVolve MEP, the industry-leading family of data-driven, AI-enhanced, SaaS platforms, along with GTP Services LLC. The companies offer a complete fabrication workflow that allows MEP contractors to more easily adapt the Building Information Modeling (BIM) Autodesk software products and workflows. This partnership would assist contractors to make a secure environment, enable more projects to be completed on time, tackle the skilled labor shortage, and grow the total project effectiveness and profitability.

Jul-2020: Dassault Systemes teamed up with Bouygues Construction, a construction engineering company. Both the companies focused on reinventing the construction sector and make it more effective and sustainable. Under this collaboration, Bouygues Construction has selected the 3DEXPERIENCE platform on the cloud to lead its business modification with the focus to enhance the productivity of its construction projects.

Jun-2020: Asite teamed up with 3D Repo, a Software as a Service platform provider. In this collaboration, the companies joined forces to develop better solutions and to further simplify workflows for the AEC industry, enhancing the collaboration and decreasing the complexity for BIM data management.

Feb-2020: Trimble partnered with KP1 Group, French leader of precast building systems. Through the partnership, KP1 could integrate the Trimble BIM solutions into their whole production process; from modeling the design to the fabrication data (CAD/CAM) for automation and also information for purchasing and invoicing.

Jan-2020: Autodesk signed a partnership agreement with National Renewable Energy Laboratory (NREL). Under this partnership, Autodesk added an integrated building-design-to-energy-analysis workflow to Revit, known as BIM-to-BEM. By integrating building information modeling (BIM) with building energy modeling (BEM), Revit makes it easy for buildings professionals to analyze the effects of their design choices on energy utilization.

Jun-2019: Dassault Systemes signed a partnership agreement with SuperMap Software, a geographic information system (GIS) software and services company. The companies aimed to indulge in platform-driven projects for construction, cities, and territories in global markets by integrating their expertise and make new guidelines for information exchange in these domains. Through the partnership, Dassault Systemes focused on advancing the usage of huge data and artificial intelligence for BIM in China.