Albany, NY, March 15, 2016 (GLOBE NEWSWIRE) -- A new research report has been recently published by Transparency Market Research and made available on the company website. According to the research report, in 2014, the global BIM market was valued at US$2.7 bn and is anticipated to reach a value of US$11.5 bn by the end of 2022, exhibiting a significant 19.10% CAGR between 2015 and 2022.
Increasing initiatives by governments to boost the adoption rate of BIM services and rising number of construction activities globally are the major factors that are expected to fuel the growth of the global BIM market. On the other hand, the absence of technical expertise and high initial costs of the software are the restraining factors for the growth of the overall BIM market.
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Based on solution type, the global BIM market has been classified into consultancy service and software. Furthermore, on the basis of deployment type, the global BIM market is divided into cloud-based software and on-premise software. The cloud-based software segment is growing rapidly owing to the high cost of on-premise software deployment and the growing adoption of cloud-based software by AEC SMEs.
On the basis of end use, the global BIM market has been categorized into architects, engineers, developers, and contractors. In 2014, the BIM market was dominated by architects, followed by engineers. On the other hand, the contractors segment is estimated to grow rapidly, exhibiting a progressive 22.70% CAGR between 2015 and 2022. On the basis of end-use industry, the global BIM market has been segmented into government buildings, educational institutes and commercial spaces, water and waste water, roads, bridges, highways, rail transit and aviation, houses and apartments, energy generation facilities, factories and warehouses, dams, and others. Among all these segments, in 2014, the rail transit and aviation segment led the overall market and is projected to remain in this position in the coming years.
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On the basis of geography, the global BIM market has been classified into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. In 2014, North America dominated the global BIM market, accounting for a share of 33% in the overall BIM market. This region is expected to remain in the leading position throughout the forecast period. Nevertheless, the Asia Pacific BIM market is estimated to grow at a fast pace in the next few years. South Korea, Japan, India, China, and Australia are considered as the major BIM markets in Asia Pacific.
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Furthermore, the research report talks about the competitive landscape of the global BIM market, emphasizing on the company profile, business strategies, financial overview, and SWOT analysis of major players in the market. The major players operating in the global BIM market include Beck Technology Ltd., Pentagon Solutions Ltd., Dassault Systemes SA, Bentley Systems Inc., Tekla Corporation, Autodesk Inc., AECOM, Nemetschek AG, Synchro Software Ltd., and GRAITEC.
Key segments of the Global BIM market:
BIM Market Analysis, by Solution type
- Consultancy Service
BIM Software Market Analysis, by Type
- On-premise Software
- Cloud-based Software
BIM Market Analysis, by End-users
BIM Market Analysis, by End-use industry
- Water and Waste Water
- Rail Transit and Aviation
- Energy Generation Facilities
- Roads, Bridges, and Highways
- Houses and Apartments
- Factories and Warehouses
- Educational Institutes and Commercial Spaces
- Government Buildings
- Dams and Others
BIM Market Analysis, by Geography
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Rest of Latin America
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.