Technology

Building Information Modeling (BIM) Software Market Set to Surge: Expected to Reach USD 17.59 Billion by 2031: Market Research Intellect

Published

1 month ago

August 16, 2024

The Building Information Modeling (BIM) Software market is set for explosive growth, expanding at a 19.9% CAGR between 2024 and 2031. This surge is driven by increasing demand for efficient project management, rising adoption of advanced digital construction tools, and government mandates for BIM usage in infrastructure projects. As the construction industry shifts towards sustainable and smart building practices, BIM software is becoming essential for designing, managing, and operating modern structures, further fueling market growth.

LEWES, Del., Aug. 16, 2024 /PRNewswire/ — The Building Information Modeling (BIM) software market is projected to grow from USD 4.73 Billion in 2024 to USD 17.59 Billion by 2031, reflecting a compound annual growth rate (CAGR) of 19.9%. This significant expansion underscores the increasing adoption of BIM technology across the construction and infrastructure sectors.

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202 – Pages
126 – Tables
37 – Figures

Scope Of The Report

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2020-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2020-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Autodesk, Bentley Systems, Trimble, Nemetschek, Graphisoft, RIB Software, Dassault Systèmes, and AccuRender.

SEGMENTS COVERED

By Deployment Type, By Application, By End-User and By Region

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

Building Information Modeling (BIM) Software Market Overview

1. Market Size and Forecast

The Building Information Modeling (BIM) software market is expected to expand significantly, from USD 4.73 billion in 2024 to USD 17.59 billion by 2031. This growth represents a robust compound annual growth rate (CAGR) of 19.9%. The substantial increase is driven by the increasing need for advanced software solutions in the construction and infrastructure sectors. As BIM technology becomes integral to project planning, design, and management, the market’s expansion reflects the growing recognition of its value in enhancing operational efficiency and project outcomes.

2. Key Market Drivers

Several factors are fueling the growth of the BIM software market. The increasing adoption of digital technologies in construction, coupled with the demand for more efficient project management and collaboration tools, is a major driver. Government regulations mandating BIM for public infrastructure projects also contribute to the market’s expansion. Additionally, the shift towards sustainable and smart building practices emphasizes the need for BIM solutions to streamline processes and ensure accurate, data-driven decision-making throughout the project lifecycle.

3. Technological Advancements

Technological advancements are a crucial driver of the BIM software market’s growth. Innovations such as cloud-based BIM solutions, real-time data analytics, and integration with other digital tools enhance the functionality and efficiency of BIM software. These advancements enable improved collaboration, data sharing, and project management, addressing the growing complexity of construction projects. As technology evolves, BIM software continues to advance, offering more sophisticated features and capabilities that cater to the evolving needs of the construction industry.

4. Market Segmentation

The BIM software market is segmented based on deployment type, application, end-user, and region. Deployment types include on-premises and cloud-based solutions, with cloud-based options gaining traction due to their scalability and accessibility. Applications span across architecture, engineering, and construction (AEC) sectors, with end-users ranging from small firms to large enterprises. Regional segmentation highlights varying adoption rates and market dynamics across North America, Europe, Asia-Pacific, and other regions, influenced by local regulations, industry growth, and technological advancements.

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5. Regional Analysis

The regional analysis of the BIM software market reveals significant growth opportunities across different areas. North America, led by the U.S., holds a substantial market share due to early adoption and technological advancements. Europe follows, driven by stringent regulations and a focus on sustainable construction. The Asia-Pacific region is expected to experience rapid growth, fueled by infrastructure development and increased investments in digital technologies. Emerging markets are also showing potential, driven by growing urbanization and infrastructure projects.

6. Competitive Landscape

The competitive landscape of the BIM software market features a mix of established players and emerging innovators. Key market participants include Autodesk, Bentley Systems, Trimble, and Nemetschek, which offer comprehensive BIM solutions with varying features and specializations. The market is characterized by ongoing product development, strategic partnerships, and mergers and acquisitions, as companies seek to enhance their offerings and gain a competitive edge. Innovation and customer-centric approaches are crucial for maintaining market leadership and addressing evolving industry needs.

7. Challenges and Restraints

Despite its growth prospects, the BIM software market faces several challenges. High implementation costs and the complexity of integrating BIM with existing systems can be barriers for smaller firms. Additionally, the need for skilled personnel to effectively use BIM software poses a challenge. Resistance to change within traditional construction practices may also slow adoption. Addressing these challenges requires ongoing advancements in technology, cost-effective solutions, and comprehensive training programs to facilitate widespread adoption and maximize the benefits of BIM.

8. Future Outlook

The future outlook for the BIM software market is highly positive, driven by continued technological advancements and increasing adoption across various sectors. The integration of artificial intelligence, machine learning, and augmented reality into BIM solutions is expected to further enhance their capabilities and appeal. As the construction industry increasingly embraces digital transformation, BIM software will play a crucial role in shaping the future of project management, design, and construction. The market’s growth trajectory reflects the growing importance of BIM in achieving efficient, sustainable, and innovative building practices.

Geographic Dominance:

The Building Information Modeling (BIM) Software market exhibits notable geographic dominance, with significant growth driven by various regions. North America leads, particularly the U.S., due to early adoption, advanced technological infrastructure, and a strong focus on innovation. The region’s high investment in infrastructure and construction projects further supports its market dominance. Europe follows closely, where stringent regulations and a commitment to sustainable construction practices drive BIM adoption.

The Asia-Pacific region is experiencing rapid growth, propelled by robust urbanization, infrastructure development, and increased digital technology investments in countries like China, India, and Japan. Emerging markets in Latin America and the Middle East are also gaining traction, supported by rising infrastructure projects and urban development. As these regions continue to embrace digital transformation, their contributions to the global BIM software market are expected to expand, shaping the future landscape of the industry.

Building Information Modeling (BIM) Software Market Key Players Shaping the Future

The Building Information Modeling (BIM) software market is significantly influenced by several key players, including Autodesk, Bentley Systems, Trimble, Nemetschek, Graphisoft, RIB Software, Dassault Systèmes, and AccuRender. These companies are leading the market with their innovative solutions and advanced technologies, shaping the future of BIM by driving digital transformation and enhancing project management, design, and collaboration across the construction and infrastructure sectors.

Building Information Modeling (BIM) Software Market Segment Analysis

Based on the research, Market Research Intellect has segmented the global Biometric Systems Market into Product, Vehicle Type, And Geography.

By Deployment Type

On-Premises: Traditional software installed and operated on local servers, offering high security and customization but requiring significant upfront investment and maintenance.Cloud-Based: Increasingly popular due to its scalability, accessibility, and lower upfront costs. It facilitates real-time collaboration and updates but relies on internet connectivity.

By Application

Architecture: Focuses on design and planning phases, enhancing visualization, and coordination among stakeholders.Engineering: Includes structural, MEP (mechanical, electrical, plumbing), and civil engineering applications, optimizing the design and analysis of complex systems.Construction: Supports project management, scheduling, and cost estimation, improving efficiency and reducing errors during the construction phase.

By End-User

Small and Medium Enterprises (SMEs): Benefit from cost-effective solutions and streamlined workflows, often focusing on specific aspects of BIM.Large Enterprises: Require comprehensive and scalable BIM solutions to manage complex and large-scale projects across multiple disciplines and locations.

By Region

North America: Leads in market share due to early adoption, technological advancements, and substantial infrastructure investments.Europe: Driven by regulatory requirements and a strong focus on sustainable building practices.Asia-Pacific: Rapid growth due to urbanization, infrastructure development, and increasing adoption of digital technologies.Latin America and Middle East: Emerging markets with growing infrastructure projects and increasing BIM adoption.

Internet, Communication, and Technology (ICT) category

The Building Information Modeling (BIM) software market is a pivotal sector within the Internet, Communication, and Technology (ICT) category, transforming how construction and infrastructure projects are designed and managed. BIM software facilitates the creation of detailed 3D models, improving accuracy, efficiency, and collaboration throughout a project’s lifecycle. The market is rapidly expanding, driven by technological advancements, increased adoption of cloud-based solutions, and growing demand for integrated project management tools. Key players such as Autodesk, Bentley Systems, and Trimble are at the forefront, offering innovative solutions that enhance design, visualization, and coordination. The shift towards digital transformation in construction and infrastructure is fueling the growth of BIM software, making it an essential tool for modern project execution and management.

The Building Information Modeling (BIM) software market, a crucial component of the Internet, Communication, and Technology sector, is experiencing significant growth. BIM software revolutionizes the construction industry by providing detailed 3D models that improve project accuracy and collaboration. Technological innovations and the rise of cloud-based solutions are driving this expansion. Major companies like Autodesk and Bentley Systems are leading the charge, offering advanced tools that enhance design and project management. As the construction sector embraces digital transformation, BIM software is becoming indispensable for efficient and effective project execution.

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About Us: Market Research Intellect

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Technology

Uploadcare Unveils New File Uploading Widget, Uploadcare File Uploader v1

Published

50 mins ago

September 24, 2024

Uploadcare’s Latest Innovation Offers Developers a Seamless, Secure and Scalable Solution for Integrating File Uploads Into Any Project

BOSTON, Sept. 24, 2024 /PRNewswire-PRWeb/ — Today, Uploadcare, a leading file management platform and content delivery network, announced the launch of Uploadcare File Uploader v1. Designed to meet the needs of developers building websites and SaaS applications with modern web tools, the file uploading widget provides an efficient and reliable way to integrate scalable and secure file uploads into any project.

“At Uploadcare, we understand that developers need a turnkey file-uploading solution to focus on what matters most: building great products,” said Igor Debatur, CEO of Uploadcare.

Uploadcare File Uploader sets itself apart with a range of key benefits to streamline the development process and enhance the end-user experience:

Easy Integration & Hassle-Free Maintenance: Quickly integrate into any tech stack with the plug-and-play solution that provides code snippets and instructions and ensures stable uploads without ongoing maintenance.Robust Security: Automatically detect inappropriate content and infected files, upholding regulatory compliance and brand integrity. Prevent unauthorized file uploads with signed uploads.Multiple Upload Sources: Support file uploads from up to 14 sources, including popular platforms like Google Drive, Dropbox, Instagram, and more.Built-in Image Editor: Empower users to edit images before upload, including options like cropping, resizing and applying filters.Advanced Accessibility: Maximize customer reach by adopting the interface with out-of-the-box A11Y accessibility options.

“At Uploadcare, we understand that developers need a turnkey file-uploading solution to focus on what matters most: building great products,” said Igor Debatur, CEO of Uploadcare. “Our new file uploader not only speeds up time-to-market but also eliminates the headaches associated with maintaining and securing file uploads, allowing developers to concentrate on their core product.”

To learn more about the latest features of the Uploadcare File Uploader, register for a live webinar on Oct. 10 at 11 a.m. EDT / 5 p.m. CET. Attendees can view a live demonstration, have their questions answered and will automatically be entered in a raffle for a Keychron Q3 Max mechanical keyboard.

For an Uploadcare File Uploader 14-day free trial, visit uploadcare.com/uploader1. To learn about Uploadcare’s offerings, visit uploadcare.com.

About Uploadcare

Uploadcare is a leading file management platform and content delivery network, enabling developers around the world to upload, manage, process, render, optimize and deliver digital content for applications and websites via a powerful suite of APIs. The developer-oriented platform was founded in 2011 by tech enthusiasts experienced in web development and image processing that encountered problems with uploading and file management, who decided to create an all-in-one solution that worked at scale. 13 years later, Uploadcare has grown rapidly, garnering clients like PandaDoc, Buffer, UserTesting, Zapier and more. To learn more about Uploadcare, visit uploadcare.com.

Media Contact

Lilly Carrion, Uploadcare, 1 9546008860, lilly@palmerpublic.com, https://uploadcare.com/

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SOURCE Uploadcare

Technology

Washington Tech Workforce Coalition Forms to Meet the Need for Diverse, Highly Skilled Candidates for In-Demand Tech Jobs

Published

50 mins ago

September 24, 2024

Industry leaders, educators and community organizations invited to join this important initiative

SEATTLE, Sept. 24, 2024 /PRNewswire/ — The Washington Tech Workforce Coalition (WTWC) proudly announces its launch, marking a significant step toward addressing the growing demand for technology roles across multiple industries. The Coalition will hold its first convening on Oct. 29, 2024 from 2-7pm at the AWS Skills Center in Seattle.

The Coalition focuses on creating opportunities for underserved and underrepresented populations while fostering a collaborative space where industry leaders, educators, training partners, community partners, and government agencies work together to meet workforce demands and facilitate job placements. The Coalition’s new website, watechcoalition.org, is the hub of this network where partners can join the Coalition, sign up for committees, read updates, find best practices and track outcomes.

Vision
The Washington Tech Workforce Coalition envisions an enduring ecosystem designed to bridge workforce gaps and advance workers’ skills in Cybersecurity, Data Analytics, IT & Cloud Computing, and Software Development.

Key responsibilities include:

Developing a talent pipeline responsive to industry needs.Closing the skills gap by creating technical and professional skills development programs.Connecting high-quality candidates with internships and full-time jobs to meet employer needs.Building relationships and credibility with workforce system stakeholders.

The Coalition is supported by industry experts AWS and Accenture, led by Computing for All, in collaboration with the Washington Technology Industry Association (WTIA), and committed employers throughout Washington State. These members form the core of the Industry Advisory Committee.

Coalition Partners
The Washington Tech Workforce Coalition includes a network of fourteen placement providers and subrecipients that will help launch 1,000 careers in technology roles by October 2025.

Placement Providers will offer various services, including community and employer engagement, candidate training, support, and job placement. Placement Providers include Ada Developers Academy, CodeDay, Per Scholas, PNW Cyber Challenge Games, Riipen and North Seattle College, Saint Martin’s University (Washington Vets2Tech), and Year Up.

These placement providers join the Coalition’s subrecipients (below) involved in strategic efforts to develop outreach and alignment with underserved communities, education, and employers. Subrecipients include Career Connect Southwest STEM Regional Network, Center of Excellence for Information & Computing Technology (COEICT), Evergreen Goodwill, King Pierce Regional Network / Washington Alliance for Better Schools (WABS), North Central Regional Network, Seattle Jobs Initiative (SJI), and Washington Technology Industry Association (WTIA).

Collectively, these grant partners build and expand training programs and job placement pipelines across the state.

Structure
Initial funding for the Coalition is from the US Department of Commerce Good Jobs Challenge grant. Implementation is through the Washington Jobs Initiative managed by Washington Student Achievement Council (WSAC). Computing for All, a 501(c)(3) technology education nonprofit organization manages the Coalition, building alignment among community, education, and industry partners to align training and job opportunities while uniting and lifting our local economies.  
The launch of the Coalition underscores all the members’ dedication to leveraging resources, applying best practices, and fostering a shared vision for talent development in technology.

For more information on the Coalition and to learn how to get involved, visit watechcoalition.org.

CONTACT: press@watechcoalition.org

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SOURCE Computing for All

Technology

WCG Improves Clinical Trial Adjudication with Enhanced AIMS Solution

Published

50 mins ago

September 24, 2024

PRINCETON, N.J., Sept. 24, 2024 /PRNewswire/ — WCG, the global leader in providing solutions that measurably improve and accelerate clinical research, is excited to announce the latest advancement in the WCG ClinSphere™ platform with the addition of an interactive adjudication model in its Adjudication Information Management System (AIMS®) solution. Specifically designed to simplify and streamline the adjudication process for clinical trials, AIMS improves efficiency, compliance, and data accuracy.

The new interactive adjudication model feature allows adjudication committee members to review all relevant clinical data for a subject within a single interactive screen, making review of lengthy subject data listings a thing of the past. Initially developed for use for adjudication within complex multiple myeloma trials, this application is now optimized for use across any therapeutic area and trial design. It is poised to become the new industry standard for clinical trial adjudication, addressing the growing complexity and volume of trials requiring expert adjudication.

“We are thrilled to offer a solution that not only improves operational efficiency but also ensures accuracy and compliance for clinical trial adjudication,” said Mark McDonald, president, Review Solutions at WCG. “AIMS empowers clinical teams to navigate the adjudication process with ease, allowing for faster decision-making and better trial outcomes.”

Key Features of the Enhancements to WCG’s AIMS Solution:

Interactive Data Review (IDR): A new user interface providing an interactive and intuitive view of clinical trial data across a subject, including automatic data change flags, resulting in increased clarity for adjudicators.

Multi-Record Per Case Adjudication: Review multiple records or data points simultaneously to streamline decision-making and reduce human error.

Real-Time Reporting and Insights: Access real-time reports, ensuring up-to-date adjudication oversight and informed decision-making.

21 CFR Part 11 Compliance: Ensure regulatory compliance with a comprehensive audit trail and built-in validation.

Built-In DICOM Imaging Viewer & Redaction Tools: Facilitate secure and efficient review of medical images and sensitive trial data.

“We recognize the unique challenges sponsors face to meet the adjudication needs of increasingly complex clinical trials,” added McDonald. “AIMS enhances not only the quality of adjudication but also the satisfaction of all stakeholders involved in the trial process.”

To learn more about AIMS, visit https://www.wcgclinical.com/technologies/aims/.

About WCG

WCG is a global leader of solutions that measurably improve and accelerate clinical research. Biopharmaceutical and medical device companies, contract research organizations (CROs), research institutions, and sites partner with us for our unmatched expertise, data intelligence, and purpose-built technology to make informed decisions and optimize study outcomes, while maintaining the highest standards of human participant protection. WCG raises the bar by pioneering new concepts, reimagining processes, fostering compliance and safety, and empowering those who perform clinical trials to accelerate the delivery of medical therapies and devices that improve lives. For more information, please visit wcgclinical.com or follow us on LinkedIn or X @WCGClinical.

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SOURCE WCG