Global 5D Building Information Modeling Market

Global 5D Building Information Modeling Market Size, Share, Growth Analysis, By Offering Type(Software, Services), By Project Lifecycle(Preconstruction, Construction), By Application(Buildings, Industrial), By End User(AEC Professionals, Consultants & Facility Managers) - Industry Forecast 2024-2031

Report ID: SQMIG60I2002 | Region: Global | Published Date: February, 2024
Pages: 276 | Tables: 119 | Figures: 67

Global 5D Building Information Modeling Market News

  • In June 2022, the newly released 2023 version of CYPE has improved created BIM models, making them more precise and allowing for the inclusion of more information. Additionally, the business has streamlined its global application so that any technician in the building sector, regardless of their area of expertise, is able to participate in an Open BIM project from the planning stage to the construction stage.
  • In July 2021, BIMx and BIMcloud have received significant upgrades from Graphisoft, the industry's top provider of BIM software solutions for architecture, to increase security, storage capacity, and collaboration and visualisation features. Additionally, Android users can access the new 3D BIMx engine.
  • In May 2021, Bimplus, a cloud-based data management and collaboration platform, received an update from ALLPLAN, a global provider of BIM solutions for the AEC sector. A totally digital environment for model collaboration is provided by the most recent update, which includes a host of new and enhanced functionality for managing BIM models, clear document management, and the integration of guest viewers.
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FAQs

The various software used in 5D building information modelling are Tekla Structures, Bentley Facilities Manager, Graphisoft ArchiCAD, Nemetschek ALLPLAN Architecture, and Autodesk Revit Structure.

The Dimension refers to the type of information and presentation in the Bim model. The major difference that all the dimensions add are:-4D BIM adds time-related information to 3D BIM models to enable detailed scheduling of the construction process. 5D BIM adds costs to BIM components to assist the calculation of total project costs. 6D BIM includes lifecycle properties to enable optimised asset management. 

5D Building Information Modelling Market size was valued at USD 328. 33 billion in 2019 and is poised to grow from USD 436. 26 billion in 2023 to USD 4275.39 billion by 2031, growing at a CAGR of 33% in the forecast period (2024-2031).

There are several large companies competing in the market. To stay afloat in the global 5D Building Information Modeling market, the market's major players are constantly implementing various growth strategies. Autodesk (US), Nemetschek (Germany), Bentley Systems (US), Trimble (US), Dassault Systèmes (France), RIB Software (Germany), ASITE (UK), AVEVA (UK), and Hexagon (Sweden) are among the major players in the 5D building information modeling market. Some of the growth strategies used by these key players to thrive in the competitive global 5D Building Information Modeling market include product launches, innovations, mergers and acquisitions, collaborations and partnerships. For Instance, Graphisoft, the industry's top provider of BIM software solutions for architecture, made significant updates to BIMx and BIMcloud in July 2021 to improve security, storage capacity, and visualisation and collaboration features. 'Autodesk (US)', 'Nemetschek (Germany)', 'Bentley Systems (US)', 'Trimble (US)', 'Dassault Systems (France)', 'Rib Software (Germany)', 'ASITE (UK)', 'Aveva (UK)', 'Hexagon (Sweden)', 'Archidata (Canada)'

The modelling and ordering processes can be made easier with the use of IoT in construction, and the needed material can be supplied straight to the construction site, cutting down on the amount of time needed for ordering. Prefabrication can make advantage of IoT solutions. Compared to conventional building techniques, using prefabricated building components can result in quicker and more affordable solutions. It can also have the added benefit of producing less construction waste. However, it can be difficult to integrate employing prefab for large commercial building projects with the entire construction lifecycle. IoT can therefore aid in resolving this issue.

Every aspect, including square footages, pricing, time, and layouts, may be conceived using 5D BIM. Owners can make judgments that are well-informed and confidently select the ideal facility with the assistance of a whole project team and estimation specialists. Using BIM in a 5D approach enables a clear vision to emerge early in the process so that every component and detail of a build is in line with overall objectives.

North America held the largest Global 5D Building Information Modeling Market share. This area saw the introduction of cutting-edge 5D BIM technology, a recently developed innovative technique to design and construction. This technique is currently commonly employed in the construction industry in North America. Many professionals who employ 5D BIM in their projects are based in this region. BIM is being used by an increasing number of architects, engineers, and contractors. During the design and construction phases of the project, they use the BIM method to boost productivity, reduce mistake rates, and generate a strong return on investment. Strong economic standing and active governmental assistance have facilitated widespread use of cutting-edge technology in the building sector, which further fuels the expansion of the BIM industry in the area. As a result, it is anticipated that the area would continue to hold the greatest market share for 5D building information modelling globally.

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