Building Information Modeling (BIM) Extraction Software Market 2023 | Growing demand for feasible architectural and engineering solutions driving the global market

Globally, governments across regions have been formulating policies driving phased transition to digitalization in construction sector, especially when it comes to building designs. The market for BIM software and services is forecast to see consistent growth with many countries at different stages of rolling out favorable digital policies, subsequently boosting the demand. While countries such as Germany, Japan, Canada, China, Netherlands, Spain, and Portugal have plans for rolling our BIM programs, countries such as Belgium, Switzerland, Italy, Brazil, Czech Republic, and New Zealand are already recording rise in the adoption. Markets of UK, The U.S., Korea, Hong Kong, Singapore, Russia, and Finland among few others already have BIM policies in place, supporting the current growth, while major South American countries such as Peru, Mexico, and Chile have expressed interest in implementing similar mandates locally in the near future.

BIM brings opportunities to countries that are expected to invest in developing new technological features in the construction field. Apart from 3D visualization, BIM also offers 4D and 5D frameworks, which comprises cost and project duration as well. The other features of BIM include representation of geographic information and properties of building components, especially in the field of architecture, engineering, and construction (AEC). It is anticipated that various industries are developing one standardized BIM model for the integration of different types of modeling systems in order to coordinate and communicate within the design-construction-operation team under one single platform.

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Key drivers of the market are the demand for feasible architectural and engineering solutions, increase in BIM implementation by companies across industries, and technological advancements in the construction industry. There has been a significant need for technological solutions for architects and engineers in the construction industry in order to design and plan effective and efficient models. Thus, building information modeling technology plays a vital role in developments within the architectural, engineering, and construction (AEC) industry. BIM extraction software provides sustainability for construction management for utilities, road construction, and scheduling and property management. Rising awareness regarding worldwide technological change has prompted project managers and designers to emphasize on the importance of efficient performance in the construction sector. Governments across various countries are investing in BIM technology due to the flourishing impact of the software on the markets. Another key driver for the adoption of BIM extraction software by clients and industries is the advantages that are shared by the client and the entire supply chain, which has a high impact on the development of commercial buildings. Utilization of BIM increases the collaboration within project teams, which proves to be impactful for enhanced profitability, better time management, reduced project cost, and improved customer/ client relationships. A major restraint of the market is the method employed for the integration of BIM technology by designers during the designing process. The market offers growth opportunities for SMEs of the construction industry in order to have long-lasting results in terms of revenue and productivity.

The BIM extraction software market can be segmented based on software, end-use, and region. In terms of software, the market can be classified into on-premise and cloud based software. Architects, engineers, and contractors are emphasizing on the usage of cloud-based BIM extraction software due to enhanced interaction & communication capabilities offered by these solutions across the BIM cycle. Based on end-use, the market can be segregated into water and wastewater, rail and transit, energy generation facilities, houses and apartments, factories and warehouses, educational institutes and commercial spaces, government buildings, dams, and others. In terms of region, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is estimated to hold a significant share of the market due to strong adoption and penetration of BIM in construction and designing as well as the presence of prominent BIM extraction software vendors across the region. Europe and Asia Pacific are emerging markets for BIM extraction software.

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Key vendors operating in the global BIM extraction software 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.

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