BIM Extraction Software Market

BIM Extraction Software Market Outlook (2022 to 2032)

The building information modeling (BIM) extraction software industry reached US$ 140.9 Million in FY2021, and is likely to register a Y-o-Y increase of over 10% in 2022, expected to be valued at US$ 155.1 Million. During the 2022 to 2032 period of assessment, the market is forecast to grow at a 9.5% value CAGR, reaching US$ 384.3 Million.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 140.9 Million
Expected Market Value (2022)	US$ 155.1 Million
Projected Forecast Value (2032)	US$ 384.3 Million
Global Growth Rate (2022 to 2032)	9.5% CAGR
Expected U.S Market Size (2032)	US$ 68.8 Million
Growth Rate of Australia (2022 to 2032)	12.2% CAGR
Expected Growth Rate of Japan (2022 to 2032)	11.8% CAGR
Key BIM Extraction Software Providers	Assemble Systems; Autodesk Inc.; AVEVA Group Plc.; Bentley Systems Inc.; ClearEdge3D; FARO Technologies; Geo-Plus VisionLidar; GEXCEL; Innovaya; Leica; Microsoft Corporation; Nemetschek Group; PointCab GmbH; Safe Software; SierraSoft; Synchro Software Ltd.; Technodigit- 3D Reshaper; Tekla; Trimble RealWorks; Vectorworks Inc.

Demand for on-premise software will continue to remain high, building up on its historical value CAGR of 8.6% from 2016 to 2021. Likewise, BIM extraction software for houses & apartments are likely to experience major uptake. During the historical period, the segment flourished at a growth rate of 9.3%. The U.S will remain the most opportunistic market, generating a US$ 35.3 Million $ opportunity through 2032.

2016 to 2021 Demand Analysis of BIM Extraction Software Industry vs. Future Outlook 2022 to 2032

According to Fact.MR- a market research and competitive intelligence provider- BIM extraction software industry growth totaled to a CAGR of 10% from 2016 to 2021. Advancements in construction design and implementation of tough construction regulations have prompted end use industries to deploy advanced building modeling solutions to ensure robustness of the construction material and designs. This has led to a tremendous spike in BIM extraction software usage.

By deploying BIM extraction software, engineers and architects are able to implement a robust project lifecycle management model. This renders the construction not only safe, but also proves to be highly inexpensive. This ultimately assists stakeholders in enhancing profitability and ensure a better customer-client relationship. Prospects significantly heightened during the pandemic, with increased demand for smart hospital management.

As technological advancements such as AI & ML, 3D printing, cloud collaboration and augmented reality penetrate the architecture, engineering & construction industry, the scope for BIM extraction software is inclining sharply. From 2022 to 2032, the global market is forecast to expand 2.5x.

Prominent Growth Drivers Influencing BIM Extraction Software Industry

Technological Advancements in Building Construction and Maintenance

Like any other industry, the construction sector too is experiencing increased adoption of major technological advancements- from 3D printing to cloud based software deployment. This has widened prospects for BIM extraction software solutions in the past few years, which have helped enhance scalability of operations and significant cost reductions. BIM extraction has completely revolutionized the construction industry, bringing in higher efficiency levels.

Advancements in 3D printing technology has rendered it easier for professionals to generate accurate elements associated with building design in a shorter time span, while reducing material loss. When used with BIM processes, 3D printing can help in the swift development of prototypes for sharing with several stakeholders related to a construction project. 3D printing is a fundamental extension of the 3D modeling process in BIM. It covers the production of the 3D model from the digital file by laying down thin layers of material in consequent succession.

Using the technology, teams can collaborate better on digital projects by seeing an element in the physical form. Similarly, augmented & virtual reality is making inroads to the BIM process and AEC industry, at large. Perfect for presentation and evaluation purposes, these technologies are augmenting the entire modeling process. With AR/VR technology examining large-scale 3D models becomes faster, better and easier.

AR/VR technology will be seen enhancing the BIM modeling process in the future as stakeholders will have a comprehensive and clear image of everything in front of their eyes at every step and every level of design and development.

Smart Cities Deployment to Provide Traction to BIM Extraction Software Adoption

The 21st century is characterized by cities leveraging data and technology to generate efficiencies, improve sustainability, foster economic development and enhance the overall quality of life for residents and visitors alike. This smart city revolution has brought about extensive reliance on IoT to collect and analyze data such that resources and assets are evenly distributed.

It is estimated that smart cities are likely to generate US$ 20 trillion in economic benefits by 2026. Furthermore, cities leveraging smart city solutions will tend to improve their energy efficiency by 30% in the next two decades. Hence, various cities are taking the initiative to go smart by the end of this decade, which will provide major scope for BIM extraction software adoption.

Smart cities are not just about the technology and exploiting the power of open data, but also about how it is shared to enable better functioning of a city. They are also about managing the physical assets and buildings and creating smart city infrastructure which will enable better decisions to be made about future maintenance and use of those assets.

To achieve this, BIM extraction software are likely to be implemented for roadmap designs, capacity building, e-submission of building permit systems and much more.

What could Possibly Hinder BIM Extraction Software Deployment?

Dearth of Interoperability with BIM Software in 4D Simulation may Impede Growth

With continuous exploration of the potential value of BIM, its use in various fields of building management is expanding at a favorable rate. However, issues linked with BIM require more research concerning the integration of BIM with other disciplines.

It has been found that current software solutions are not mature enough and lack interoperability in the process of 4D simulation, which results in challenges for centralized management of building information. Thus, continuous R&D investment is one of the fit solutions for improving the performance of software as per demanding applications.

Country-wise Analysis

What is the Demand Outlook for BIM Extraction Software in the U.S?

Streamlining Construction Operations to Open New Growth Avenues

According to Fact.MR, the U.S is forecast to flourish at a CAGR of 7.5% from 2022 to 2032, reaching US$ 68.8 Million in the BIM extraction software domain. A dollar opportunity worth US$ 35.3 Million exists for the market across the U.S. An expanding construction industry has led to adoption of practices aimed at streamlining construction activity.

In the past several years, building information modeling has made significant inroads into the U.S architecture, engineering & construction industry. Construction giants have been utilizing software solutions such as Autodesk Revit and ArchiCAD to address issues in construction design, engineering, visualization, conflict resolution, construction simulation, subcontractor co-ordination and cost projection among others.

Over the years, the U.S government has issued several guidelines to ensure that construction material used in various projects are of robust quality, yet are sustainable in terms of costs and resource usage.

For instance, the General Services Administration provides for integrating 3D imaging for recording existing process conditions during construction. This requires companies to be a collaborative exercise, for which the need for BIM extraction software is required.

Is Australia a Lucrative Market for BIM Extraction Software Sales?

Embracing Key Technological Advancements to Generate New Growth Avenues

Smart innovations and cutting-edge software are just some of the things that have encouraged the Australian construction industry to explode into new realms. Digital transformation is at its peak. And smartphones, aerial drones and 3D modelling are the driving forces behind it. The construction industry, including its equipment, productivity and on-site communication are all centered on technology.

From deploying cloud-based software to ensure mobility, adoption of concrete non-destructive testing for determining compressive strength to 3D modelling and drones, all attributes are making it big within the domestic construction industry. It is expected that the Federal Government is expected to pour in US$ 110 Billion for a decade long infrastructure pipeline, beside key allocations from several state governments.

A major portion of this finance will likely be deployed for securing BIM extraction software. As per the market research report published by Fact.MR, the Australian market is expected to flourish at a 12.2% value CAGR from 2022 to 2032, reaching US$ 22 Million by the end of the said period of forecast. In addition, it will likely yield an opportunity worth US$ 15.1 Million.

Country-wise Forecast CAGRs for the BIM Extraction Software Market

Report Attributes	Details
U.S	7.5%
U.K	8.2%
China	11.4%
Japan	11.8%
Australia	12.2%

Category-wise Insights

Which Software Type is Likely to Accrue Maximum Market Gains?

On-Premise BIM Extraction Software to Experience Maximum Deployment

By software type, Fact.MR, expects on-premise BIM extraction software to experience a CAGR of 8% from 2022 to 2032. Given the fact that the global construction industry is heavily regulated, major companies are restricting data access for their employees within the corporation premises. This is done to ensure data security and avoid possible breaches.

Because the software itself is licensed and the entire instance of software resides in the premises, there is generally greater protection as compared to cloud-based BIM extraction software solutions. The only challenge with on-premise solutions is their elevated costs.

By End Use Industry, which Category is likely to benefit the Maximum?

BIM Extraction Software for Houses & Apartments to be Key Revenue Stimulator

According to Fact.MR’s analysis, the houses & apartments segment is poised to experience maximum BIM extraction software uptake. A CAGR worth 8.8% has been projected throughout the 2022 to 2032 period of assessment. Growing urbanization across key countries is primarily driving market growth.

With an increase in residential construction projects, AEC companies are relying on advanced modeling systems, with the objective of reducing overhead costs, while simultaneously ensuring safe construction practices. This is prompting an uptake of BIM extraction software endowed with the latest technological advancements.

Competitive Landscape

Key providers of BIM extraction software are focusing on the development of cost-effective and compact solutions to attract more customers. Additionally, players are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach.

• In March 2021, Bentley Systems Inc. agreed to acquire Seequent- a global leader in 3D modeling software for geoscience and building information monitoring. The transaction was agreed upon at a sum of US$ 1.05 Billion. The transaction was fully completed by July 2021
• In March 2022, Autodesk Inc. introduced Bridge- a new collaboration capacity which empowers construction teams to share relevant data with project stakeholders, irrespective of whether they are on the same team or building project within the Autodesk Construction Cloud. Bridge gives teams control over their respective project data sets by enabling them to share select sheets, folders and files with collaborators without having to share all project information
• AVEVA Group Plc. signed a partnership agreement with RIB Software, a global leader in digital technologies for construction, in July 2021. This partnership has opened new frontiers for AVEVA’s Project Execution portfolio offering for process and plant industries. Both companies are connecting project teams, allowing them to collaborate more effectively by bringing together the engineering, procurement and construction functions to deliver a true design to solutions.

Key Segments Covered in the BIM Extraction Software Market Report

• By Software Type :

  • On-Premise BIM Extraction Software
  • Cloud-Based BIM Extraction Software

• By End Use Industry :

  • BIM Extraction Software for Water & Waste Water
  • BIM Extraction Software for Rail Transport & Aviation
  • BIM Extraction Software for Energy Generation Facilities
  • BIM Extraction Software for Roads, Bridges & Highways
  • BIM Extraction Software for Houses & Apartments
  • BIM Extraction Software for Factories & Warehouses
  • BIM Extraction Software for Education Institutes & Commercial Spaces
  • BIM Extraction Software for Government Buildings
  • BIM Extraction Software for Dams & Others

• By Region :

  • North America BIM Extraction Software Market
  • Europe BIM Extraction Software Market
  • Asia Pacific BIM Extraction Software Market
  • Middle East & Africa BIM Extraction Software Market
  • South America BIM Extraction Software Market