Building Information Modeling (BIM) Extraction Software Market

Building Information Modeling (BIM) Extraction Software Market Expected to Reach
US$ 228.7 Mn by 2026
According to a new market report published by Transparency Market Research, the
global 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.
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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.

Building Information Modeling (BIM) Extraction Software Market