New research data from Cambashi’s BIM report suggests that the growth of the BIM software market will prove resilient against a mixed economic backdrop
Despite successive economic downturns, Cambashi’s latest data report suggests that BIM software market growth remains strong and may achieve double-digit growth to $17.6bn (approx. £14.7bn) in 2023.
The November 2022 BIM Software Market Report constitutes a comprehensive global market update of the burgeoning BIM software segments.
The report estimates around $14.8bn was spent on BIM software in 2021
Cambashi’s latest data indicates that the BIM software market is continuing its trend of continued resilience through continued economic instability.
Despite disruptions caused by the global pandemic, market growth has remained positive at 10.5% (Constant USD) in 2021. They estimate that around $14.8bn was spent on BIM software overall in 2021.
BIM Design and BIM Operate remain to generate the most revenue within BIM software, which Cambashi identifies as being primarily due to their having the highest market penetration.
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%. Future growth will appear faster than the relatively conservative BIM Design and BIM Operate growth, according to Cambashi.
It is expected BIM market growth will continue despite predicted economic downturns
“The positive market impact of Cambashi’s forecast equates to BIM software delivering an estimated $2.8bn 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.”
Cabashi’s BIM Software Market Report offers insight into multiple impacting factors
This report is intended to provide a high-level market assessment of one of the fastest-developing segments of the engineering software market. The report provides:
- A BIM software market overview for better plans and strategies and to align internal resources, capabilities, and product planning
- Potential software users’ analysis for establishing an addressable market perspective
- An understanding of the BIM software market competitive landscape
- The main trends and market drivers
- A forecast of market growth by segment, region, and key players to derive targets for sales and marketing initiatives
- A starting point for detailed investigations into one or more market segments or country markets
- An understanding of the impact of currency fluctuation on the technical software markets.
