Market Definition
Across Europe, several companies operating in the AEC (Architecture, Engineering, & Construction) sector and facility & real estate managers are increasingly utilizing BIM (Building Information Modeling) solutions for modeling & optimizing projects to ensure that accurate information is created in a suitable 3D format and timely decisions are taken throughout the design, construction, & operation of building assets.
Market Insights & Analysis: Europe Building Information Modeling Software Market (2023-28)
The Europe Building Information Modeling Software Market is projected to grow at a CAGR of around 12.2% during the forecast period, i.e., 2023-28. The growth of the market is projected to be driven by the mounting need for automated models in the construction sector to improve operational efficiencies, coupled with the increasing number of government norms for using BIM in the AEC sector. With several complications in current AEC processes owing to the fragmented delivery methods, building problems, and the involvement of multiple parties, BIM is being utilized increasingly in the sector.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 12.2% |
| Country Covered | The UK, Germany, France, Italy, Spain, Others |
| Key Companies Profiled | SDEA_Engineering Solutions, Autodesk Inc., Nemetschek Group, Bentley Systems International Limited, Trimble Inc., Dassault Systems, RIB Group, Asite, Aveva Group plc, Hexagon, Archidata Inc. and others |
| Unit Denominations | USD Million/Billion |
Moreover, the integration of AR/VR into BIM, where users can view & interact with a virtual world, has enhanced communication among stakeholders, provided better visualization for designers, engineers, & other stakeholders, and facilitated a completely immersive experience. These emerging trends are creating new directions for the Europe Building Information Modeling Software Market to witness significant expansion in the coming years.
Increasing Application of VR-based BIM Solutions to Enable Easy Examination of Large Scale 3D Models
VR technology allows visualization & interaction with the virtual world, and BIM aids in the creation & manipulation of the design data. Also, with VR-based BIM software, construction companies can advance their building designs by visualizing the building model using 3D scanning in the virtual environment. In addition, they can easily manage to recover, present information, and increase efficiency in communication & problem-solving in a collaborative project. Hence, with growing awareness among end-users of these benefits, more & more BIM solutions integrated with VR technology are being adopted and, in turn, fueling the growth of the building information modeling software market in Europe.
Market Segmentation
Based on Project Lifecycle:
Of them all, pre-construction designing holds a considerable share of the Europe Building Information Modeling Software Market. The use of BIM while constructing buildings minimizes the chances of errors during the pre-construction phase and enhances the overall accuracy of design & cost estimations in a project. With the increasing number of building & construction projects in Europe, various BIM services are being deployed in order to improve building accuracy & reduce construction costs. As a result, enhanced use of BIM by building owners, design teams, contractors, & facility managers during the pre-construction of buildings to achieve the detailed engineering of a project beforehand is driving the Building Information Modeling Software industry in the coming years.
Based on Deployment Mode:
Here, cloud-based models dominate the market, and the same trend is likely during 2023-28. It owes to their cost-effectiveness & easy accessibility. As the advent of Covid-19 caused economic damage by elongated lockdowns and reduced personnel on worksites, cloud-based technologies gained traction to fulfill the operational needs of different industries. With these models, designers & construction engineers can now remotely devise future projects using digital collaboration tools & cloud-based BIM software and manage client contracts, projects, & sales, among other activities. Hence, these benefits of cloud-based BIM solutions are leading to their mounting adoption across Europe and, in turn, propelling the growth of the building information modeling software market.
Market Dynamics:
Key Driver: Government Mandates for the Usage of Building Information Modeling (BIM) in the AEC sector
Various EU (European Union) initiatives toward promoting the use of BIM technology owing to benefits like reduced expenditure & better operational efficiency are pushing its demand across the region. As a result, the rise in construction activities associated with smart cities, as well as other residential & commercial infrastructural projects in recent years, has been driving the Europe Building Information Modeling Software Market. Hence, all these events indicate that the utilization of BIM solutions in the country shall continue surging significantly in the coming years.
Possible Growth Restraint: High Initial Costs of BIM Solutions
Despite several benefits & cost savings associated with BIM solutions, their implementation involves specific software & data storage that costs a significant amount to an organization. Hence, high initial expenditure associated with its education & training, management & start-up costs, and transition & behavioral prices might act as key growth restraints for the Europe Building Information Modeling Software Market during 2023-28.
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Frequently Asked Questions
A. The Europe Building Information Modeling Software Market is projected to grow at a CAGR of around 12.2% during 2023-28.
A. The growing consciousness among males about personal hygiene & looks and the increasing availability of a wide range of personal care products for men are the primary factors anticipated to drive the Europe Building Information Modeling Software Market during 2023-28.
A. Cloud-based BIM solutions are projected to create remunerative prospects for the leading players in the Europe Building Information Modeling Software Market through 2028.
A. Asite Solutions Pvt. Ltd., Autodesk Inc., Aveva Group PLC, Bentley Systems Inc., Dassault Systems SE, Hexagon AB, and Trimble Inc. are the key companies participating in the Europe Building Information Modeling Software Market.
