The latest report on the Building Information Modeling (BIM) Software Market from Cambashi forecasts it will grow to USD 30.7 billion by 2027. The Cambridge-based research company reveals that the market will see double-digit growth CAGR of 11.5% from 2022 to 2027, an increase in revenue of around USD 12.9 billion over that period.
Cambashi’s report forecasts growth in three key areas of BIM (2023-2027):
- The BIM Design software market, which includes software used in the design stage of building and infrastructure projects, will grow with a CAGR of 10.4%.
- The BIM Construct software market, which covers software for collaboration on planning and building, will grow with a CAGR of 15.6%.
- The BIM Operate software market, which includes software for facilities management, will continue to grow with a CAGR of 9.4%.
“BIM Design, Construct, and Operate showed positive growth during the worst lockdown periods caused by the COVID pandemic – displaying strong growth in 2021 and peaking in 2022. In 2023, a struggling global economy will slow down BIM software growth. However, BIM Operate software will show some resilience as building management and maintenance are ongoing needs that cannot be postponed indefinitely”, said Joe Brooker, Industry Analyst at Cambashi.
Cambashi highlights key players by phase:
- BIM Design: Autodesk, Bentley, Hexagon, Nemetschek, Trimble;
- BIM Construct: Autodesk, Glodon, Oracle Construction & Engineering, Procore Technologies, Trimble;
- BIM Operate: Hexagon, IBM, MRI Software, Space IQ, Yardi.
As the effects of the global pandemic have unfolded, Cambashi says there has been a significant increase in corporate restructuring and merger and acquisition (M&A) activities among the key players in the BIM space.
This report is intended to provide a high-level market assessment of one of the most attractive, fast-developing segments of the Engineering Software market, where opportunities for lucrative growth via new market development, potential acquisition, and partnering are becoming characteristics of the segment. The report provides:
• A BIM software market overview for better plans and strategies and to align internal resources, capabilities, and product planning
• Potential software users’ analysis for establishing an addressable market perspective
• An understanding of the BIM software market competitive landscape
• The main trends and market drivers
• A forecast of market growth by segment, region, and key players to derive targets for sales and marketing initiatives
• A starting point for detailed investigations into one or more market segments or country markets
• An understanding of the impact of currency fluctuation on the technical software markets.
For more information about the report visit https://cambashi.com/shop/bim-market-report/bim-software-market-drivers-share-size-growth-opportunity-and-forecast-report/