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.
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.
North America is leading the BIM extraction software market with more than 30% share
globally. This is the result of strong adoption and penetration of BIM extraction software in the
construction industry. Furthermore, strong presence of BIM extraction software vendors across
the region is contributing to growth of the market. Among all end use industries, the houses
and apartments segment in North America accounted for maximum revenue share in the
market in 2016. Additionally, increased demand for cost efficient solutions by companies has
led to fast adoption of cloud-based software for BIM extraction. In terms of new opportunities,
Asia Pacific and Middle East & Africa (MEA) regions are expected to witness healthy growth
during the forecast period. Increasing awareness of BIM as well as adoption of advance and
technological solutions in construction industry across countries such as Singapore, India, South
Korea, United Arab Emirates (U.A.E), Saudi Arabia, and South Africa among others is expected
to offer prominent opportunities to the BIM extraction software market.

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