Building Information Modeling Market Trends

Growth Drivers

• High adoption of BIM for better design and planning: BIM is rapidly gaining popularity in modern infrastructure projects as it helps in better planning, real-time collaboration, and simulation of project phases. This is a key factor expected to boost BIM sales during the forecast period. BIM provides detailed, multi-dimensional visualizations that surpasses 2D blueprints. This can help stakeholders to see how the project will look and function. For instance, in May 2024, WiseBIM, a French software startup announced the launch of WiseBIM AI for Autodesk Revit which turns 2D plans into Revit elements.

• Government initiatives supporting the adoption of BIM:  Governments across the globe are recognizing the transformative potential of BIM in enhancing the efficiency and transparency of construction projects. As BIM projects worldwide are expected to increase drastically over the coming years, governments are enforcing standards, offering financial initiatives, and integrating BIM into national strategies. Among all the countries, the UK government was one of the first to mandate BIM adoption for construction and urban development. 

Challenges

• High initial investments and cost of BIM software: Though BIM is rapidly gaining traction worldwide, the high initial investments required to develop BIM software and services is expected to hamper overall market growth during the forecast period. For instance, BIM tools like Autodesk Revit or ArchiCAD are expensive to purchase and also require ongoing licensing fees. In addition, advanced hardware, including high-performance computers and servers needed to run the BIM software increases the total upfront costs. This is expected to hamper the overall adoption of BIM software and services to a certain extent going ahead.

• Lack of skilled professionals: As these products are complex, they often require skilled technicians and experts for development and operations. Thus, small and medium-scale companies with limited funds, may not be able to hire skilled professionals or train existing staff is expected to restrain the BIM market growth during the forecast period.