According to a new market report published by Transparency Market Research the global building information modeling (BIM) extraction software market is expected to reach a value of US$ 228.7 Mn by 2026 on account of growing BIM implementation across the construction industry. The market is projected to expand at a CAGR of 10.1% during the forecast period from 2018 to 2026. Asia Pacific is anticipated to experience healthy growth which is expected to be followed by Middle East & Africa during the forecast period. The government building segment is expected to see flourishing growth, owing to rising government focus on mandating BIM across construction activities
Growing demand for feasible architectural and
engineering solutions driving the global BIM extraction software market
Rapid developments in technologies have led the construction
industry toward digitization. There has been a significant need for
technological solutions for architects and engineers in the construction
industry to design and plan effective and efficient models. This is likely to
create strong demand for BIM extraction software in the near future. Similarly,
governments across countries such as the U.S., Australia, Germany, Finland,
Singapore, and Denmark are focusing on enhancing technological aspects of the
construction industry. Additionally, governments are mandating BIM
implementation in public infrastructure developments. Public agencies as well
as private companies are also emphasizing on implementing BIM across
construction activities mainly due to the benefits offered by BIM solutions.
Some of these benefits include enhanced project process outcome, reduced
project cost, reduced rework, and reduced project duration among other
internal, project, and process benefits offered by BIM.
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Building Information Modeling (BIM) Extraction Software
Market: Scope of the Report
The BIM extraction software market is segmented on the basis
of software deployment, end use industry, and geography. According to the
research study, the cloud-based BIM extraction software market is anticipated
to experience flourishing growth during the forecast period. This is mainly due
to increasing penetration of cloud technology across the world. In addition,
growth of cloud-based software is also expected to be supplemented by
increasing demand for cost efficient solutions across industries. By 2026,
cloud-based BIM extraction software is projected to cover more than 50% of the
global market. In terms of end use industry, houses and apartments segment is
projected to dominate the global BIM extraction software market. Growing
infrastructure developments and investments in affordable housing and
multi-family or multi-dwelling projects across the world is likely to
contribute to the revenue growth of the BIM extraction software market during
the forecast period. Also, several construction companies emphasizing on
enhanced collaboration and integration across various construction lifecycles
as well as among architects, engineers, contractors, and owners are leading to
increasing adoption of BIM extraction software. Additionally, governments in
different countries are mandating BIM implementation which is also expected to
positively affect the BIM extraction software market. Roads, bridges and
highways segment is expected to hold the second largest share in the global BIM
extraction software market. Educational institutes & commercial spaces, and
water & wastewater segments are collectively projected to see more than 20%
of market share opportunity in the global market during the forecast period.
North America is leading the BIM extraction software market
with more than 30% share globally. This is the result of strong adoption and
penetration of BIM extraction software in the construction industry.
Furthermore, strong presence of BIM extraction software vendors across the
region is contributing to growth of the market. Among all end use industries,
the houses and apartments segment in North America accounted for maximum
revenue share in the market in 2016. Additionally, increased demand for cost
efficient solutions by companies has led to fast adoption of cloud-based
software for BIM extraction. In terms of new opportunities, Asia Pacific and
Middle East & Africa (MEA) regions are expected to witness healthy growth
during the forecast period. Increasing awareness of BIM as well as adoption of
advance and technological solutions in construction industry across countries
such as Singapore, India, South Korea, United Arab Emirates (U.A.E), Saudi
Arabia, and South Africa among others is expected to offer prominent
opportunities to the BIM extraction software market.
Global Building Information Modeling (BIM) Extraction
Software Market: Competitive Dynamics
The research study includes profiles of leading companies
operating in the global BIM extraction software market. Some of the key players
profiled in the market include Autodesk, Inc., AVEVA Group plc, Bentley
Systems, Inc., FARO Technologies, Inc., Tekla Corporation, Safe Software, Inc.,
Vectorworks, Inc., Microsoft Corporation, Synchro Software, Nemetschek Group,
PointCab GmbH, Gexcel srl, Assemble Systems, SierraSoft, Innovaya, ClearEdge3D,
Inc., Leica, Geo-Plus, Technodigit SARL, and Trimble, Inc..?
The global building information modeling (BIM) extraction
software market is segmented as below:
Global Building Information Modeling (BIM) Extraction
Software Market, by Software Deployment
- On
Premise Software
- Cloud-based
Software
Global Building Information Modeling (BIM) Extraction
Software Market, by End Use Industry
- Water
and Wastewater
- Rail
Transit and Aviation
- Energy
Generation Facilities
- Roads,
Bridges, and Highways
- Houses
and Apartments
- Factories
and Warehouses
- Educational
Institutes and Commercial Spaces
- Government
Buildings
- Dams
and Others
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