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The building information management system market size is forecast to increase by USD 15.99 billion and is estimated to grow at a CAGR of 13.26% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. Firstly, the rise in global construction projects, particularly in emerging economies, is fueling the demand for advanced BIMS solutions to manage complex building designs and construction processes. Secondly, the integration of cloud-based solutions is enabling real-time collaboration among stakeholders, increasing productivity and reducing errors. However, the high implementation and operational costs associated with BIMS remain a challenge for small and medium-sized enterprises (SMEs) in the construction industry. Despite this, the benefits of BIMS, such as improved project delivery, reduced rework, and enhanced facility management, continue to make it an attractive investment for large construction firms and government agencies. Overall, the BIMS market is expected to grow steadily in the coming years, driven by these trends and the increasing recognition of the value of data-driven construction processes.
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The market encompasses a range of technologies and applications that enable the digital management of infrastructure projects in the Global construction industry. These systems are integral to smart city initiatives, facilitating computer-controlled production and the integration of 3D models, digital twin, and BMS technologies. IoT plays a crucial role in BIMS, connecting sensors for HVAC, lighting systems, and other building systems to optimize energy spending and facilitate preventive maintenance. Building Management Systems (BMS) include Facility Management, Security Management, Energy Management, and more. BIMS software is used by building owners to manage and monitor various building functions, utilizing AI and cloud platforms for data analysis and real-time insights. Construction and civil engineers leverage BIMS to optimize design, planning, and execution of infrastructure projects. Key components of BIMS include HVAC, lighting systems, energy management, and sensors. The market for BIMS is expected to grow significantly due to the increasing demand for energy efficiency, cost savings, and improved building performance. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in global construction projects is notably driving market growth. The market experiences steady growth due to the increasing number of infrastructure projects and smart city initiatives worldwide. The global construction industry is witnessing a surge in digital transformation, with the adoption of computer-controlled production and BMS technologies such as 3D models, digital twins, and IoT. This trend is particularly noticeable in commercial, residential, and industrial sectors, including office buildings, educational institutes, airports and railways, factories, production plants, distribution facilities, and warehouses. BIMS solutions enable facility management, security management, energy management, infrastructure management, and emergency management, among others. Building owners and managers increasingly rely on sensors, AI, and cloud platforms to optimize energy spending, implement preventive maintenance, and enhance the overall performance of their assets. For instance, Neom, a USD500 billion smart city project in Saudi Arabia, exemplifies the potential of BIMS in transforming urban living. By integrating advanced technologies, this project aims to reduce costs, improve sustainability, and create a high-tech urban hub. The construction sector, in particular, stands to benefit significantly from these innovations, as BIMS solutions streamline processes, enhance collaboration, and improve overall project outcomes. Thus, such factors are driving the growth of the market during the forecast period.
The integration of cloud-based solutions for real-time collaboration is the key trend in the market. In the global construction industry, the adoption of Building Information Management Systems (BIM) is on the rise, particularly in infrastructure projects and smart city initiatives. BIM utilizes 3D models and digital twins to facilitate computer-controlled production and advanced facility management. This technology is increasingly being employed in various sectors, including utilities, transportation, and commercial and industrial buildings. BIM technologies are integrated with Internet of Things (IoT) devices, such as sensors, AI, and cloud platforms, to enable preventive maintenance, security management, energy management, infrastructure management, and emergency management. Key players in the market, such as Autodesk Inc., offer cloud-based BIM solutions like Autodesk's BIM 360. This platform ensures real-time collaboration and project management across various construction stages, improving efficiency, reducing errors, and enhancing scalability. Other professional and managed services are also available for residential, commercial, and industrial applications, including educational institutes, airports and railways, factories, production plants, distribution facilities, and warehouses. Building owners and managers can benefit from these solutions to optimize energy spending, streamline operations, and ensure the safety and security of their properties. Thus, such trends will shape the growth of the market during the forecast period.
The high implementation and operational costs for building information management systems is the major challenge that affects the growth of the market. Building Information Management Systems (BIMS) play a crucial role in optimizing infrastructure projects and smart city initiatives by enabling computer-controlled production and facilitating the integration of various systems in the global construction industry. BIMS utilize 3D models, digital twins, and IoT technologies to facilitate facility management, energy management, infrastructure management, emergency management, and professional services across various sectors, including utilities, transportation, commercial, residential, industrial, and educational institutes. The initial investment for implementing BIMS can be substantial, ranging from USD 20,000 to USD 5 million, depending on the project's scale and complexity. This investment covers the purchase of advanced software, infrastructure upgrades, and system integration. Operational expenses, such as ongoing maintenance, software updates, technical support, and data management, add to the financial burden, with annual costs ranging from USD50,000 to USD500,000. Training staff to effectively use BIMS is an additional investment, with costs varying based on the number of users and the depth of training required. BIMS enable the monitoring and management of various systems, including HVAC, lighting systems, security management, and energy management, leading to significant cost savings through preventive maintenance and energy efficiency. Cloud platforms and AI technologies further enhance the capabilities of BIMS, making them an essential tool for building owners and managers in various industries. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACCA software Spa - The company offers Building Information Management System such as usBIM, for the digitization of constructions and infrastructures in a simple, secure and shared workflow.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth in the global construction industry, driven by infrastructure projects and smart city initiatives.
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The commercial segment accounted for USD 4.89 billion in 2018. BIMS utilizes computer-controlled production, 3D models, digital twins, and IoT technologies to enhance facility management in various sectors, including utilities, transportation, and commercial buildings. BMS technologies are integral to HVAC, lighting systems, energy spending, and preventive maintenance. Facility Management, Security Management, and Energy Management are key applications of BIMS in the construction sector. Building owners benefit from real-time monitoring and predictive analytics to optimize energy usage and reduce maintenance costs. Sensors, AI, and cloud platforms enable efficient management of residential, commercial, and industrial buildings, including office buildings, educational institutes, airports and railways, factories, production plants, distribution facilities, and warehouses. Professional and managed services further support the adoption of BIMS in the construction industry.
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Europe is estimated to contribute 37% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In the construction industry, Building Information Management Systems (BIMS) have emerged as essential tools for managing building projects effectively. These systems facilitate seamless collaboration among construction supervisors, civil engineers, architects, and consultants, as well as building contractors. The integration of Artificial Intelligence (AI) and machine learning technologies in BIMS enhances their capabilities, enabling advanced features such as predictive analysis and automation of routine tasks. These technologies improve project efficiency, reduce errors, and enhance overall quality. AI and machine learning algorithms can analyze vast amounts of data generated during the construction process, providing valuable insights for informed decision-making. By streamlining communication and enhancing project management capabilities, BIMS are revolutionizing the construction sector, making it more efficient and productive.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Building Information Management Systems (BIMS) are digital solutions that facilitate the management of infrastructure projects and smart city initiatives in the Global construction industry. These systems utilize Computer-controlled production, 3D models, Digital twin, and IoT technologies to manage Facility management, Security Management, Energy Management, Infrastructure Management, Emergency Management, Professional Services, and Managed Services in various sectors. BIMS technologies are essential in the Construction sector for managing Utilities, Transportation, HVAC, and Lighting systems in Commercial buildings, Residential premises, Office buildings, Educational institutes, Airport and railways, Factories, Production plants, Distribution facilities, and Warehouses. Building owners leverage BIMS to optimize Energy spending through Preventive maintenance, ensuring the smooth functioning of HVAC, Lighting systems, and other essential infrastructure. Sensors, AI, Cloud platforms, and Software are integral components of BIMS, enabling real-time monitoring and efficient management of various building systems.
Industry Scope |
|
Report Coverage |
Details |
Page number |
204 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.26% |
Market growth 2024-2028 |
USD 15.99 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.78 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 37% |
Key countries |
US, China, UK, Germany, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACCA software Spa, Accruent, Acuity Brands Inc., Autodesk Inc., Azbil Corp., Bentley Systems Inc., Bricsys NV, Delta Controls Inc., Eleco Plc, Honeywell International Inc., Johnson Controls International Plc., Nemetschek SE, Procore Technologies Inc., RIB Software GmbH, Schneider Electric SE, Siemens AG, Trane Technologies plc, Trimble Inc., and Vantage-BMS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Additional Value/Volume Data
7 Five Forces Analysis
8 Market Segmentation by Sector
9 Market Segmentation by Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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