LONDON — (BUSINESS WIRE) — January 17, 2020 — The global building information modeling software market is expected to post a CAGR of almost 20% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global building information modeling software market 2019-2023. (Graphic: Business Wire)
Organizations are increasingly focusing on cultivating and managing their resources effectively to improve product outputs. This has increased the adoption of efficient solutions such as building information software for effective large-scale construction project management. Building information modeling software automates the process and ensures maximum output by managing resources and maintaining regular follow-ups. It also improves connectivity in the process, which enables organizations to handle project-related queries easily and effectively. This reduces response time and increases productivity. Many such benefits are driving organizations to adopt building information modeling software, which is fueling the growth of the market.
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As per Technavio, increasing investment for intelligent processing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Building Information Modeling Software Market: Increasing Investment for Intelligent Processing
Vendors in the market are making significant investments to integrate intelligent processing techniques such as AI with building information modeling software. This integration will help end-users such as builders, contractors, engineers, and architects to overcome various challenges, improve efficiency and productivity, and reduce the time and money spent on the project. For example, AI-based building information modeling software enables users to analyze risks and test the stability and viability of a project. Therefore, this trend of integrating intelligent processing techniques will have a positive impact on the growth of the global building information modeling software market during the forecast period.
“Growth of 5D building information modeling and the increased adoption of open building information modeling will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Building Information Modeling Software Market: Segmentation Analysis
This market report segments the global building information modeling software market by product (software and services) and geography (Americas, APAC, and EMEA).
The EMEA region led the market in 2018, followed by the Americas and APAC respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the market. This is due to the strong presence of prominent vendors in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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