The building information modeling market size is projected to reach US$ 22.49 billion by 2031 from US$ 8.34 billion in 2023. The market is expected to register a CAGR of 13.2% in 2023–2031. The growing adoption of digital technologies by the construction sector and the government mandating the use of building information modeling is likely to remain key to building information modeling market trends.
The construction industry has gained traction in recent years. The rise in the adoption of digital solutions to minimize human error fostered the adoption of building information modeling. The need to improve the construction project performance and focus on taking significant steps towards sustainability in the construction industry act as key trends in the building information modeling market. The growing industrial and residential construction and government mandates to adopt building information modeling solutions fuel the building information modeling market.
The architecture, engineering, and construction (AEC) industry has long struggled with high costs, slow delivery, and a lack of communication among project stakeholders, which include architects, engineers, contractors, owners, designers, and facilities managers. Advancemnet in technologies has helped the AEC professional to overcome these challenges with the help of building information modeling. Building information modeling is an intelligent, 3D model-based tool that shows users a digital representation of a building's physical and functional characteristics. This type of representation provides additional insight into the space's planning, design, construction, and management. When properly implemented, building information models can alleviate construction communications concerns while also providing a shared knowledge resource that can be used to make reliable decisions throughout a building's lifecycle.
The construction industry has witnessed significant growth in recent years owing to factors such as population expansion, urbanization, and increasing infrastructure requirements. The construction industry shape’s the country or region’s economy of various sectors. The growing industrialization and growth in the residential sector have given a surge to the need for construction activities. The growing construction industry generates the demand for solutions that identify and resolve potential conflicts before construction begins. It estimates for materials, shipping, and labor before construction.
According to NOVATR, building information modeling projects see productivity increases in the range of 75 to 240%. Thus, the government authorities in some countries have mandated the adoption of building information modeling solutions for their public projects. For example, the UK is a world leader in the implementation of building information modeling. The government requires a minimum of Level 2 collaborative building information modeling for all projects. In Singapore, the Building and Construction Authority (BCA) made it compulsory to submit building information modeling plans to get regulatory approval to promote the use of building information modeling. Thus, the government mandates regarding building information modeling are fueling building information modeling market.
Key segments that contributed to the derivation of the building information modeling market analysis are type, project life cycle, applications, and end user.
The geographic scope of the building information modeling market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific region is expected to grow with the highest CAGR. Various countries' government authorities in the region are mandating the adoption of building information modeling for the public projects as it helps to reduce cost and increase productivity. In addition, the rising construction industry is another driving factor for the growth of Asia Pacific building information modeling market share.
The regional trends and factors influencing the Building Information Modeling Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Building Information Modeling Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 9.44 Billion |
| Market Size by 2031 | US$ 22.49 Billion |
| Global CAGR (2025 - 2031) | 13.2% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Building Information Modeling Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Building Information Modeling Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Building Information Modeling Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
The “Building Information Modeling Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The incremental growth expected to be recorded for the global building information modeling market during the forecast period is US$ 14.15 billion.
The global building information modeling market is expected to reach US$ 22.49 billion by 2031.
The key players holding majority shares in the global building information modeling market are AECOM; Autodesk, Inc.; AVEVA Group plc; OpenSpace; and Trimble Inc.
Focus on reducing carbon footprint and going green in the construction industry is anticipated to play a significant role in the global building information modeling market in the coming years.
The growing adoption of digital technologies by the construction sector and the government mandating the use of building information modeling are the major factors that propel the global building information modeling market.
The global building information modeling market was estimated to be US$ 8.34 billion in 2023 and is expected to grow at a CAGR of 13.2% during the forecast period 2023 - 2031.