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Building Information Management System Market to Grow by USD 15.99 Billion from 2024-2028, Driven by Rising Global Construction Projects, AI’s Role in Shaping the Market Landscape – Technavio Report

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NEW YORK, Aug. 30, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global building information management system market size is estimated to grow by USD 15.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.26% during the forecast period. Rise in global construction projects is driving market growth, with a trend towards integration of cloud-based solutions for real-time collaboration. However, high implementation and operational costs for building information management systems poses a challenge. Key market players include ACCA software Spa, Accruent, Acuity Brands Inc., Autodesk Inc., Azbil Corp., Bentley Systems Inc., Bricsys NV, Delta Controls Inc., Eleco Plc, Honeywell International Inc., Johnson Controls International Plc., Nemetschek SE, Procore Technologies Inc., RIB Software GmbH, Schneider Electric SE, Siemens AG, Trane Technologies plc, Trimble Inc., and Vantage-BMS.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Sector (Commercial, Residential, Industrial, and Institutional), Type (Software and Hardware), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

Region Covered

Europe, North America, APAC, South America, and Middle East and Africa

Key companies profiled

ACCA software Spa, Accruent, Acuity Brands Inc., Autodesk Inc., Azbil Corp., Bentley Systems Inc., Bricsys NV, Delta Controls Inc., Eleco Plc, Honeywell International Inc., Johnson Controls International Plc., Nemetschek SE, Procore Technologies Inc., RIB Software GmbH, Schneider Electric SE, Siemens AG, Trane Technologies plc, Trimble Inc., and Vantage-BMS

Key Market Trends Fueling Growth

In the Building Information Management System (BIM) market, the integration of cloud-based solutions is a significant trend. Cloud technology enables real-time collaboration among architects, engineers, and construction professionals, regardless of their locations. This integration facilitates instantaneous updates and access to shared data, leading to increased efficiency and fewer errors. Notable companies offering cloud-based BIM solutions include Autodesk Inc. With BIM 360, Trimble Solutions Corporation with Trimble Connect, and Bentley Systems incorporated with ProjectWise. These platforms allow teams to work on the same model simultaneously, reducing delays and conflicts. The use of cloud-based BIM solutions streamlines workflows, enhances communication, and provides a single source of truth for project data. As technology advances, the ability to work collaboratively from different locations will become essential for successful project outcomes. Consequently, the integration of cloud-based solutions is expected to fuel the growth of the global BIM market during the forecast period. 

The Building Information Management System (BIMS) market is experiencing significant growth due to increasing infrastructure projects and smart city initiatives. BIMS technologies, including 3D models and digital twins, are revolutionizing the global construction industry by enabling computer-controlled production and improved facility management. Utilities, transportation, and various sectors such as commercial, residential, industrial, and educational institutes are embracing BIMS to optimize energy spending through preventive maintenance and real-time monitoring of HVAC, lighting systems, and other energy-consuming assets. BIMS also enhances security management, emergency management, and professional services through IoT sensors, AI, and cloud platforms. Construction professionals, including civil engineers, architects, consultants, construction supervisors, and building contractors, are leveraging BIMS to streamline projects and improve overall efficiency. 

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Market Challenges

Building information management systems (BIMS) are essential tools for managing construction projects and facilities, but their implementation and operational costs can be substantial. The initial investment for BIMS can range from USD20,000 to USD5 million, including software purchases, infrastructure upgrades, and system integrations. For large-scale or complex projects, costs can exceed USD10 million. Ongoing maintenance, which includes software updates, technical support, and data management, adds to the financial burden, with annual costs ranging from USD50,000 to USD500,000. Training staff to use BIMS effectively also requires an investment, with costs varying based on the number of users and the depth of training required. These high costs can be a significant barrier to adoption, particularly for smaller organizations or projects with limited budgets. Consequently, the substantial costs associated with BIMS may hinder the growth of the global building information management system market during the forecast period.The Building Information Management System (BIMS) market is growing rapidly as more building owners recognize the benefits of digitizing their operations. However, implementing a BIMS comes with challenges. Preventive maintenance, facility management, security management, energy management, infrastructure management, and emergency management require seamless integration. Professional services and managed services are essential for successful implementation. BIMS caters to various sectors, including residential, commercial, and industrial. Commercial buildings like office buildings, educational institutes, airports, and railways, as well as residential premises, benefit from BIMS. Industrial applications include factories, production plants, distribution facilities, and warehouses. Construction, civil engineers, architects, consultants, construction supervisors, and building contractors are key stakeholders in the BIMS value chain. Sensors, AI, cloud platforms, software, and machine learning are critical components of BIMS. The construction phase is a crucial time to implement BIMS, ensuring optimal use of resources and efficient project delivery.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This building information management system market report extensively covers market segmentation by

Sector 1.1 Commercial1.2 Residential1.3 Industrial1.4 InstitutionalType 2.1 Software2.2 HardwareGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Commercial- The Building Information Management System (BIMS) market is growing as more businesses recognize its benefits. BIMS streamlines construction projects by managing data related to design, construction, and facility management. This leads to improved project efficiency, reduced costs, and enhanced collaboration among team members. Companies in the architecture, engineering, and construction industries are increasingly adopting BIMS to optimize their operations. The market is expected to continue expanding due to the increasing demand for better project management solutions.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Building Information Management System (BIMS) market is experiencing significant growth due to the increasing adoption of digital technologies in the global construction industry. Infrastructure projects and smart city initiatives are driving the demand for BIMS, as they require advanced systems to manage complex data and optimize resources. BIMS utilizes computer-controlled production, 3D models, digital twins, and BMS technologies to enhance building operations. IoT sensors, AI, and cloud platforms are integral components of BIMS, enabling real-time monitoring and predictive maintenance for HVAC, lighting systems, and energy management. Building owners benefit from improved facility and security management, reducing energy spending and enhancing overall operational efficiency. Civil engineers and construction professionals leverage BIMS software to streamline project planning, design, and execution.

Market Research Overview

The Building Information Management System (BIMS) market is experiencing significant growth due to the increasing adoption in various sectors, including infrastructure projects and smart city initiatives. BIMS enables computer-controlled production, digital twin technology, and facility management in the global construction industry. Utilities, transportation, and various sectors such as HVAC, lighting systems, and energy management are leveraging BIMS for energy spending optimization, preventive maintenance, and improved efficiency. BIMS technologies are integrated with Internet of Things (IoT) sensors and AI, including machine learning, to monitor and manage building operations. The market spans across various sectors, including residential, commercial, and industrial, encompassing commercial buildings, residential premises, office buildings, educational institutes, airports and railways, factories, production plants, distribution facilities, and warehouses. Building owners, civil engineers, architects and consultants, construction supervisors, and building contractors are key stakeholders in the BIMS market. BIMS solutions offer professional services and managed services to cater to the diverse needs of clients. The market is expected to continue its growth trajectory due to the increasing demand for efficient and sustainable building management systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

SectorCommercialResidentialIndustrialInstitutionalTypeSoftwareHardwareGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Stop Overpaying for Commercial Energy! Here’s How Your Business Can Cut Costs Today

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Bid On Energy Helps Businesses Secure Lower Commercial Energy Rates and Control Operating Costs

LEWES, Del., Nov. 9, 2024 /PRNewswire-PRWeb/ — As commercial energy rates continue to rise, businesses are feeling the pressure on their operating costs. Many companies are unknowingly overpaying for energy, despite better options available in deregulated markets. Bid On Energy, a leading commercial energy consultant platform, is here to change that. By using a unique auction-based approach, Bid On Energy enables businesses to access the best commercial electricity and commercial natural gas rates, helping them save money and stay competitive.

“Our mission is to simplify energy procurement so businesses can secure the best possible rates without spending hours negotiating or comparing options. With Bid On Energy, they can save on their bottom line with a few simple steps.” said Alan, CEO at Bid On Energy.

Why Businesses are Overpaying – And How Bid On Energy Can Help

In today’s volatile energy market, commercial rates can vary significantly depending on the supplier and contract terms. For businesses relying on traditional energy providers, these variations often mean higher costs and inflexible contracts. Bid On Energy offers a straightforward solution, using a transparent bidding platform that gives businesses access to competitive rates from a range of suppliers. This process drives suppliers to offer their best prices, allowing companies to lock in affordable energy rates tailored to their needs.

“Many business owners don’t realize they have a choice when it comes to their energy supplier,” said Alan, CEO at Bid On Energy. “Our mission is to simplify energy procurement so businesses can secure the best possible rates without spending hours negotiating or comparing options. With Bid On Energy, they can save on their bottom line with a few simple steps.”

How It Works: Competitive Bidding for Energy Savings – The Bid On Energy platform guides businesses through a simple four-step process:

Step 1. Energy Needs Assessment: Businesses share their energy needs and usage patterns with Bid On Energy’s team, helping to identify the most cost-effective supplier options.

Step 2. Supplier Bidding: Bid On Energy hosts a reverse auction, allowing energy suppliers to compete by submitting their best rates and contract terms.

Step 3. Transparent Comparison: Businesses can easily compare rates, contract lengths, and other terms from multiple suppliers in real-time.

Step 4. Seamless Transition: After selecting a supplier, Bid On Energy assists with contract finalization and transition, ensuring a smooth experience and ongoing support.

This approach not only provides cost savings but also makes the energy procurement process easier and more efficient for businesses of all sizes.

A Real Solution for Managing Energy Expenses – In an era where energy costs are rising and businesses are looking for every possible advantage to manage expenses, Bid On Energy provides a crucial service. By offering expert guidance, risk management, and flexible contract options, Bid On Energy gives businesses control over their energy expenses, making it easier to predict and plan for the future.

Stop overpaying for commercial energy today! Businesses ready to reduce their energy costs and take advantage of competitive bidding can learn more by visiting Bid On Energy’s website and scheduling a free consultation. With Bid On Energy, the savings start with a single step. Visit https://BidOnEnergy.org or contact their team at (302) 360-8110 to see how much your business could save.

About Bid On Energy

Bid On Energy is a commercial energy consultant that connects businesses with competitive rates for electricity and natural gas. Using an auction-based platform, Bid On Energy empowers businesses to secure the best rates, optimize energy expenses, and streamline procurement. Serving industries such as manufacturing, healthcare, retail, and real estate, Bid On Energy is committed to helping businesses thrive in today’s deregulated energy markets.

Contact:

Bid On Energy

Phone: (302) 360-8110

Website: https://BidOnEnergy.org

Media Contact

Alan, Bid On Energy – Commercial Electricity, 1 3023608110, admin@bidonenergy.org, https://bidonenergy.org/

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SOURCE Bid On Energy – Commercial Electricity

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CloudOne Digital Appoints Packet Cofounder and Former Equinix Executive Zach Smith to Board of Directors to Drive Growth in Bare Metal and Hybrid-Cloud Solutions

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ATLANTA, Nov. 9, 2024 /PRNewswire/ — CloudOne Digital, a leader in cloud-based infrastructure solutions, proudly announces the appointment of Zachary Smith to its Board of Directors. With a storied career including impactful roles at Packet and Equinix, Smith brings extensive expertise in building and scaling cloud infrastructure, especially in high-performance bare metal platforms. Smith joins CloudOne Digital to advance the company’s suite of solutions, catering to mid-sized businesses across tech, ecommerce, healthcare, gaming, and professional services.

The demand for cloud and bare metal solutions continues to surge, valued at USD 8.44 billion in 2023 and is projected to grow at a CAGR of 23.9% from 2024 to 2030 (Grand View Research). This growth will be fueled by the rapidly increasing need for high performance compute, further adoption of cloud hosting, and the growing demand for artificial intelligence (AI) and machine learning (ML) capable infrastructure. Carlo Padovano, Managing Director at One Equity Partners, says “We couldn’t be more excited to welcome Zachary to our team. He’s an invaluable leader to help us capitalize on the growth opportunities within bare metal and cloud hosting.”

For over 20 years, Smith has been a leader in the digital infrastructure and cloud computing ecosystem. Smith started his career as an early partner at New York-based Voxel dot Net, a Linux-based cloud and software platform sold to Internap in 2011. In 2014, he co-founded Packet to empower technology-enabled enterprises with automated bare metal compute capabilities. Backed by SoftBank, Dell Technologies, Third Point, and Battery Ventures, the business became the leader in bare metal compute automation and was acquired by Equinix in March 2020. Smith led the strategy, product, and integration efforts for Equinix’s bare metal compute and edge services platform until he left the company in early 2023.

Jim Geiger, Chief Executive Officer of CloudOne Digital, comments, “Zach’s wealth of experience and pioneering approach to infrastructure solutions perfectly align with our goal of becoming the preferred provider for businesses taking the next step with their critical infrastructure, digital platforms, and hybrid cloud needs. His expertise will undoubtedly help propel CloudOne Digital’s vision of being a leader in the multi-cloud world.”

“CloudOne Digital is building a breadth of cloud and bare metal solutions that is unmatched in the marketplace,” says Smith. “Joining an ambitious team to build a product suite that will grow mid-market and enterprise businesses is exciting. CloudOne Digital empowers businesses to deploy data-intensive applications with greater efficiency and scalability, transforming what’s possible in the digital era.”

“We’re thrilled to have someone of Zachary’s caliber and expertise join our team at CloudOne Digital. His expertise in driving scale via bare metal technology aligns perfectly with our mission to empower businesses with reliable, secure, and innovative hosting solutions,” says Nick Dvas, President of Servers.com

“I’m excited to join the CloudOne Digital team and contribute to its vision of providing agile, robust, and optimized infrastructure,” says Smith. “The possibilities at CloudOne Digital to accelerate bare metal and cloud solutions are boundless, and I’m eager to help the team drive this transformation.”

About CloudOne Digital

CloudOne Digital, a portfolio company of One Equity Partners (OEP), is an innovative portfolio of cloud-based solutions tailored to the needs of online businesses. Serving small entrepreneurs to mid-market enterprises, to platform providers in AdTech, FinTech, Gaming, iGaming, and streaming verticals, CloudOne provides infrastructure and cloud capabilities that meet the demands of growing online businesses through its two largest brands Servers.com and Liquid Web. With a customer-centric approach, CloudOne’s solutions offer the reliability, scalability, and support essential for business success in a competitive digital world.

For media inquiries, please contact:
Name: Isaac Douglas
Title: CRO, servers.com
Email: Isaac@servers.com

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VIAIM Receives Shopee Trending Shop Recognition with Its Innovative Air and Nano+ Earbuds Taking Center Stage

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SINGAPORE, Nov. 9, 2024 /PRNewswire/ — VIAIM, an AI technology hardware company deeply rooted in the smart office sector, has once again become a popular choice on Singapore’s Shopee platform for the upcoming Double 11 shopping festival with its high-quality products and cutting-edge technology, including its best-selling Air and Nano+ conference recording earbuds. The world-renowned brand has been recognized as a Shopee Trending Shop just in time for the big retail festival, and also ranked second in sales ahead of six other major headphone brands. This reflects Singaporean consumers’ strong recognition of the quality and high functionality of its Nano+ and Air series of earbuds.

The certification given by the Shopee is based on a comprehensive evaluation of VIAIM’s Shopee store, and includes metrics such as operating data, sales, and buyer preferences, among others. VIAIM’s second place among the top six headphone brands reflects the brand’s popularity, strong consumer recognition, and high customer satisfaction levels in Singapore.

Mr.Ma,CEO of VIAIM, commented: “We are honored to receive this recognition from Shopee, and it is because of the trust and loyalty of our customers that we have received it, so I want to personally thank them for this. People are using our products and there is no better recognition than this. For this Double 11 Festival, VIAIM is yet again leading the way with our strong tech innovation and product excellence that continue to bring a new and improved artificial intelligence conference recording experience to users around the world.”

The VIAIM Nano+ and Air series earbuds are redefining efficiency with their versatile functionality, featuring three distinct recording modes: call recording, on-site recording, and audio and video recording. Supporting 13 languages for real-time transcription and translation, including Malay and Thai, the earbuds cater to a diverse and international user base, particularly in Southeast Asia.

Powered by VIAIM AI, the earbuds effortlessly extract summaries and key points from lengthy articles, helping business professionals and students save time and retain critical knowledge. Their advanced 45dB deep noise reduction ensures crystal-clear sound quality in any environment, while the Flash Record feature captures every moment seamlessly. With dual-device connectivity and an impressive 40-hour battery life, these lightweight earbuds provide a comfortable, all-day listening experience without interruptions.

Designed to solve real-world challenges, from simplifying multilingual communication to enhancing productivity, the VIAIM Nano+ and Air series stand out as essential tools for modern professionals and students. Whether you’re leading a meeting, studying for exams, or navigating cross-cultural exchanges, these earbuds are your trusted companion for achieving more, faster, and with ease.

Time is running out as the Double 11 festival approaches. From November 10 at 8 p.m. to November 13 at 11:59 p.m.,VIAIM is offering exclusive limited-time discounts. Head to VIAIM’s Shopee and Lazada stores to grab special deals on the Nano+ conference recording earbuds and Air earbuds. Don’t miss out—shop now to boost your work efficiency!

About VIAIM

VIAIM is an innovative technology company in the consumer-goods sector. With a focus on versatile, multimodal interactions, we strive to provide effective solutions that meet users’ specific needs. By harnessing state-of-the-art technology, we bring our visionary ideals to life, helping people embrace the incredible possibilities the Company offers.

CONTACT: Qian Wang, wangqian@vision-intelligence.tech 

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