BIM market to be worth “US$17.6 billion”

The global Building Information Modelling (BIM) software market could be worth US$17.6 billion next year, according to research from Cambashi.

The company’s BIM Software Market Report indicates that the BIM software market is continuing its trend of continued resilience through successive economic downturns. Despite disruptions caused by the global pandemic, market growth has remained positive at 10.5% in 2021, with an estimated US$14.8 billion spent on BIM software in 2021.

“The positive market impact of Cambashi’s forecast equates to BIM software delivering an estimated US$2.8 billion in additional global revenue in 2023, compared with 2021,” said Dan Roberts, senior consultant, Cambashi.

“This confirms the latent attractiveness of the lucrative BIM software growth. In 2023 the expected global reduction in GDP growth will inevitably hamper BIM software market growth, but all BIM Construct, Design and Operate software segments still represent an attractive sector to providers and investors alike.”

BIM Construct, as a less mature market that is still developing quickly, is expected to grow much faster than the other phases, at around 15%. BIM Design and BIM Operate are more mature segments, and as such are expected to grow more conservatively than BIM Construct.