Product ID: SQMIG45E2219
Report ID:
SQMIG45E2219 |
Region:
Global |
Published Date: February, 2024
Pages:
197
|
Tables:
62 |
Figures:
75
Building Information Modeling Market size was valued at USD 5.95 billion in 2021 and is poised to grow from USD 6.71 billion in 2022 to USD 17.59 billion by 2030, at a CAGR of 12.8% during the forecast period (2023-2030).
Global Building Information Modeling (BIM) Market is an innovative and rapidly growing industry that provides a digital representation of a building's physical and functional characteristics. The purpose of BIM is to create a collaborative and coordinated approach to construction projects, where all stakeholders can access and share the same information in real time. This enables improved efficiency, and accuracy, and reduces the likelihood of errors during the construction process. The market is being driven by several factors, including the increasing demand for sustainable and energy-efficient buildings, rising construction activities in developing countries, and the growing need for better communication and collaboration between project teams. Additionally, the increasing use of BIM in smart cities and the growing adoption of cloud-based BIM solutions are further propelling market growth. However, the market is also facing some challenges, including the high cost of implementing BIM technology, a lack of awareness about BIM in some regions, and a shortage of skilled professionals in the industry. Nevertheless, the key trends in the market are the integration of BIM with other technologies like artificial intelligence and the Internet of Things (IoT), the development of BIM software for mobile devices, and the growing popularity of modular and prefabricated construction. In terms of opportunities, the market is expected to witness significant growth in the Asia Pacific region, particularly in China and India, due to increasing construction activities and the growing focus on infrastructure development. Additionally, the adoption of BIM by government agencies for infrastructure projects and the increasing use of BIM in the healthcare and education sectors are expected to create lucrative opportunities for market players.
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Product ID: SQMIG45E2219