Building Information Modeling (BIM) software market shows resilience to grow to $17.6bn in 2023

New research data from Cambashi’s BIM report, November 22 release, reveals that growth of the BIM software market will prove resilient against a mixed economic backdrop, and is expected to still achieve double-digit growth in 2023

Cambashi has released its latest November 2022 BIM Software Market Report, which constitutes a comprehensive global market update of the burgeoning BIM software segments.

Cambashi’s latest data indicates that the BIM software market is continuing its trend of continued resilience through successive economic downturns. Despite disruptions caused by the global pandemic, market growth has remained positive at 10.5% (Constant USD) in 2021. Overall, we estimate that around $14.8bn was spent on BIM software in 2021.

“The positive market impact of Cambashi’s forecast equates to BIM software delivering an estimated $2.8bn in additional global revenue in 2023, compared with 2021,” said Dan Roberts, Senior Consultant, Cambashi. “This confirms the latent attractiveness of the lucrative BIM software growth. In 2023 the expected global reduction in GDP growth will inevitably hamper BIM software market growth, but all BIM Design, Construct and Operate software segments still represent an attractive sector to providers and investors alike.”

BIM Construct, as a less mature market that is still developing quickly, is expected to grow much faster than the other phases, at around 15%. BIM Design and BIM Operate are more mature segments, where we see the highest market penetration and where most BIM software revenue is currently generated. We expect these to grow more conservatively than BIM Construct.

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/