Building Information Modeling Market Size Evolves with AI and IoT Integration | Estimated to Gain $15.89 Billion by 2027

Drivers for the Building Information Modeling (BIM) market include efficiency gains, cost reduction, sustainability demands, and regulatory compliance.

PORTLAND, OREGON, UNITED STATES, September 6, 2023/EINPresswire.com/ — The size of the global Building Information Modeling Market, which was estimated to be worth $5,205 million in 2019, is expected to grow to $15,892 million by 2027, at a CAGR of 15.2%.

Building information modeling (BIM) users gain a competitive edge because to improved data transmission and coordination among multiple stakeholders, higher construction productivity, and other factors that are driving the expansion of the BIM market globally. Additionally, the market is growing as a result of increasing government regulations requiring the use of BIM in the global construction sector. However, the market’s expansion is hampered by the high cost of the software and the scarcity of qualified personnel.

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Depending on deployment mode, the on-premise segment dominated the building information modeling market share in 2019, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to rise in concerns about security of data associated with construction projects, which is highly valuable. Larger firms in the AEC industry such as Autodesk Inc. and Nemetschek AG provide on-premise software for their customers in industrial, healthcare, and residential sectors.

BIM is moving beyond 2D blueprints. Architects and construction professionals are increasingly adopting 3D modeling to create detailed, interactive representations of buildings. This trend enhances project visualization, collaboration, and decision-making, leading to more efficient and accurate designs. BIM is integrating with the Internet of Things (IoT) and Artificial Intelligence (AI). IoT sensors in buildings provide real-time data on occupancy, energy usage, and maintenance needs, improving building management. AI algorithms analyze this data to optimize building performance and predict maintenance requirements, enhancing sustainability and cost-efficiency.

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BIM is playing a crucial role in promoting sustainable construction. With growing environmental concerns, BIM tools facilitate the integration of green building practices by analyzing energy consumption, material choices, and environmental impacts. This trend aligns with the industry’s shift towards eco-friendly and energy-efficient construction.

Cloud-based BIM platforms are gaining prominence for their ability to enable real-time collaboration among project stakeholders, regardless of geographical locations. This trend fosters seamless communication and information sharing, reducing project delays and improving overall project management efficiency.

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Some of the key building information modeling market industry players profiled in the report include Autodesk, Inc., Asite Solution, Beck Technology Ltd, Bentley Systems, Incorporated, AVEVA Group plc, Dassault Systèmes, Hexagon AB, Nemetschek SE, Pentagon Solution Ltd, and Trimble Ltd. This study includes market trends, building information modeling market analysis, and future estimations to determine the imminent investment pockets.

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David Correa
Allied Analytics LLP
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