The Global Building Information Modeling Software Market to grow at a CAGR of 19.76% during the period 2019-2023.
The report covers the present scenario and the growth prospects of the global building information modeling software market. To calculate the market size, the report considers the revenue generated from the adoption of building information modeling solutions. Building information modeling software is a software that is used for the creation of 3D representation of construction projects such as buildings, railways, and roads. The report also includes a discussion of the key vendors operating in this market.
One trend affecting this market is growth of 5D building information modelling. 5D building information modelling can be considered as an evolution of 4D and 3D building information modelling.
According to the report, one driver influencing this market is the reduction in design time. The incapability to complete the construction projects on time and within the budget is the major problem faced by the construction industry.
Further, the report states that one challenge affecting this market is the high implementation and operating costs. In addition, the support and maintenance costs of building information modelling software are high.
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