Building Information Modeling Market Share

North American Market Forecast

The market in the North American region is estimated to garner the largest share over the forecast period on the back of the introduction of advanced digital technology in the infrastructure domain. Over USD 9 billion is spent on public residential construction in the U.S., as of 2020. Engineers and architects in the countries, such as Canada and US are increasingly adopting building information modeling, which is further projected to drive market growth. Moreover, Major BIM vendors are based in this region, and BIM is frequently integrated with other trends such as geographic information systems. Katerra, a California-based startup, has built a combined platform that seamlessly links BIM tools and computational modeling to its ERP worldwide logistics infrastructure to facilitate the ordering, manufacture, tracking, and transportation of goods easier.

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness the highest CAGR over the forecast period, owing to the increasing construction activities in the developing nations, including, India, China, Singapore, Indonesia, and Vietnam. Infrastructural development of the tier 2 cities is another major growth driver for the APAC market. China is predicted to dominate the region due to the country's enormous infrastructure developments. The nation is considering three large-scale construction projects that will make use of BIM software, including the Shanghai Tower, the Beijing Phoenix Media Centre, and the Shanghai Disneyland Resort. This is anticipated to fuel expansion in the market in Asia Pacific.

Europe Market Forecast

After Asia Pacific, Europe is expected to remain a dominating market during the forecast time frame. The requirement for BIM solutions is largely determined by the level of development in a region, and in the United Kingdom, it has rebounded dramatically during the economic downturn to emerge as one of the primary sectors of the economy. The United Kingdom was an early adopter of BIM solutions, with the General Services Administration adopting a number of proactive efforts to encourage the use of BIM systems. Government rules and regulations for the implementation of BIM solutions in the development of public and private infrastructure in many nations in this area promote the growth of the BIM industry.