November, 2024
The building information modeling market deals in developing a 3D model-based solutions for construction sector across the world. The main components of this industry consist of software and services. The growing trend of advanced building information modeling services in public infrastructure sector has boosted the market growth.
This market is generally driven by the rising demand for these solutions by builders and contractors. Also, the increasing number of construction activities across the world along with the growing use of these solutions by engineers and architects has propelled the growth of the building information modeling market. In June 2023, OpenSpace launched OpenSpace BIM+. OpenSpace BIM+ is AI-enabled building information modeling technology that finds several applications in construction sector. This market comprises of several players such as Autodesk, Bentley Systems, Hexagon AB, Aveva Group PLC and some others. Autodesk is a leading provider of BIM solutions that generated overall revenue of US$ 5.01 billion in 2022.
The advancement in AR and VR-based BIM solutions along with developments in mobile building information modeling software is expected to create ample growth opportunities for the market players in the upcoming days. In June 2024, Trimble launched a new building information modeling application for engineers. This application is designed for enhancing building information modeling among engineering firms.
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