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Building Information Modeling (BIM) Market Projected to Reach 7.64 Billion USD by 2022

The key factors driving this market have been the optimized project performance and increased productivity; enhanced communication and coordination throughout the asset lifecycle management process in the construction industry due to adoption of BIM; and government mandates for the usage of BIM in several developed countries.

The optimized project performance and increased productivity; enhanced communication and coordination throughout the asset life cycle management process in the construction industry due to adoption of BIM; and government mandates for the usage of BIM in several developed countries are the key driving factors for the building information modeling market.

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Software are expected to lead the global BIM market between 2017 and 2022

The software segment held a major share of the BIM market in 2016. The high demand for cost-effective construction processes & their ease of handling and benefits of design modeling software are some of the factors responsible for the high adoption of building information modeling software in the architectural, engineering, and construction (AEC) industry. However, the BIM market for services is expected to grow at the highest CAGR during the forecast.

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