BIM 2018-2026 market predictions
In 2020, rising awareness of the benefits of information modelling for buildings, especially across the construction sector, saw traction in demand for BIM software solutions and services. Favourable changes, such as the policy of the UK Government for a transition to Level 2 BIM and subsequently Level 3 BIM has seen larger construction companies implementing this as part of their business strategy, with penetration reaching close to 70%.
The BIM market is facing challenges due to the high cost of software and frequent requirement for upgrades. Moreover, the lack of trained expertise is a major constraint on the BIM market. Because it is an expensive tool, the adoption rate of BIM has been low among the AEC SMEs.
The adoption of BIM in 2020 was dominated by architects, followed by engineers. However, contractors are expected to be the major users of BIM over the forecast period, with their presence expanding at a CAGR higher than global average.
The BIM market is segmented on the basis of solution types: end-users, end-use industry and geography. Segmentation based on solution type includes software and consultancy services. The BIM software market is further segmented by deployment type into on-premise and cloud-based software types.
The adoption of BIM is expected to expand over the forecast period due to a rise in the number of cloud-based services. Cloud-based software is the fastest-growing segment in the BIM software market. This growth is attributed to the high cost of on-premise software deployment.
A number of end use industries are making use of BIM solutions in their infrastructural development. These include water and waste water; bridges, roads, and highways; rail transit and aviation; energy generation facilities, houses and apartments; education institutes and commercial spaces; government buildings; factories and warehouses; dams and others.