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BUILDING INFORMATION MODELING MARKET By End users, Types (Software, Services), Applications (Commercial, Residential, Educational, Industrial, Healthcare, Entertainment, and sports) and by Geography ANALYSIS AND FORECAST 2020 It s all about markets MARKETSANDMARKETS sales@marketsandmarkets.com www.marketsandmarkets.com
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including aerospace and defence, advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2014 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. 1
1 INTRODUCTION 1.1 OBJECTIVES OF THE STUDY To define, describe, and forecast the Building Information Modeling (BIM) market on the basis of end-users, types, applications, and geographies To provide the market statistics with detailed classifications by market share To provide key trends related to the product technologies, prices, and applications that shape and influence the market To analyze the global BIM market with a special focus on high growth applications in each vertical To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market To forecast the market size of segments with respect to four main geographies (along with countries) namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW) To strategically profile the key players with respect to different markets, to provide in-depth market share analysis with individual market sizes and market shares, and market share rankings as well as to comprehensively analyze their core competencies2 To provide the impact analysis of market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes To provide a detailed Porter's analysis as well as the evolution and timeline of BIM in the market Illustrative segmentation, analysis, and forecast of the major geographic markets to give an overall view of the global market To forecast the BIM market and industry from both technical and market-oriented perspectives with techno-market oriented roadmaps till 2020 To track and analyze competitive developments such as joint ventures, mergers and acquisitions, new product developments, and research and developments in the BIM market. To track the competitive intelligence from company profiles, key player strategies, and gamechanging developments such as product launches and acquisitions 2
1.2 MARKETS COVERED The research report categorizes the BIM market into the following segments Global Building Information Modeling Market, By Application Commercial Residential Educational Healthcare Industrial Entertainment Commercial Applications Retail buildings Office buildings Industrial Applications Manufacturing industries Infrastructure projects such as bridges, tunnels, and so on Sports Others Other Applications Military Transportation *Others include military and transportation as well as other related applications Building Information Modeling Market, By End-User Contractors Architects Developers Facilities Managers (FMs) Building Product Manufacturers Others Building Information Modeling Market, By Type Software Services Building Information Modeling Market, By Geography North America Europe Asia-Pacific Rest of the World 3
1.3 STAKEHOLDERS Software Developers Architectural Technologists Electronic Design Automation (EDA) & Design Tool Vendors Integrated Device Manufacturers (IDMs) BIM intellectual Property Players BIM Technology Platform Developers BIM Product Manufacturers (ODMs) BIM Original Equipment Manufacturers (OEMs) ODM and OEM Technology Solution Providers Assembly, Testing, and Packaging Vendors Distributors and Traders Research Organizations Organizations, Forums, Alliances, and Associations 1.4 MARKET SCOPE The scope of the report is the total BIM market, including the software and end-services market. BIM in this report has been defined as a process implemented with different types of software and services available for different end-users such as contractors, architects, developers, Facilities Managers (FMs), building product manufacturers, and others Thus, the BIM market and its statistics, wherever mentioned, refer to the markets for end-users and types of BIM in eight major application verticals, such as commercial, residential, educational, healthcare, industrial, entertainment, sports, and others 4
2 RESEARCH METHODOLOGY The research study involved the usage of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, BusinessWeek, Factiva, and OneSource to identify and collect the information useful for this technical, market-oriented, and commercial study of the BIM market. The primary sources are mainly several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, reimbursement providers, technology developers, IP vendors, standards, and organization related to all segments of this industry s value chain. In-depth interviews were conducted from various primary respondents that include key industry participants, subject matter experts (SMEs), C- level executives of key market players, and industry consultants, among other experts to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following illustrative figure shows the market research methodology applied in making this report on the Building Information Modeling (BIM) market. FIGURE 1 BUILDING INFORMATION MODELING MARKET: RESEARCH METHODOLOGY HISTORICAL DATA FOR THE BUILDING INFORMATION MODELING MARKET Evolution Market Share Pricing Trends Competitive Landscape Reimbursement Scenario BIM Testing Supply & Value Chain Regulatory Landscape Geographic Usage Pattern INFLUENCING FACTORS (Market Trends and Dynamics) Market Drivers: Cost reduction during the entire process and increased production efficiencies Proliferation of the green buildings in the current market Government mandates for the usage of BIM in many of the developed countries Market Restraints: Expensive software availability is hampering growth of the BIM market Longer training periods decreasing the productivity of the company Burning Issue: Lack of information and awareness about BIM Agreements, Collaborations, & Partnerships: More than 25 deals in the last three years New Product Launches: More than 20 new product launches in the last three years Market Opportunity: Increasing BIM usage in the architecture, engineering, and construction (AEC) industry Geographic Analysis FORECASTING Historical Data of the Market Impact Analysis of Market Trends Market Size & Forecast, by Type Market Size & Forecast, by Application Market Size & Forecast, by End User Arrive at the Market Size, Share, and CAGR for the BIM Market Source: Articles, Journals and MarketsandMarkets Analysis In the secondary research process, various secondary sources were referred to for identifying and collecting information for this study. The secondary sources include annual reports, press releases, and investor presentations of companies, white papers, journals, certified publications, articles from recognized authors, websites, directories, and databases. 5
Secondary research was mainly used to obtain the key information about industry supply chain, the market monetary chain, and total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments from both market and technology-oriented perspectives. In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the area of BIM market. The primary sources from the demand side include camera manufacturer, mobile phone manufacturer, and other imaging devices manufacturer. After the complete market engineering (which includes calculations for market statistics, market crackdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and to verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation of types: industrial trends; porter s analysis; key players; competitive landscape of BIM supplied by different types of market players; and key market dynamics such as drivers, restraints, opportunities, burning issues, winning imperatives, industry trends, and key player strategies. In the complete market engineering process, both top-down and bottom-up approaches were extensively used along with several data triangulation methods to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list key information/insights throughout the report. 2.1 DEMAND FOR THE BIM PROCESS IN THE MARKET, 2013 Our forecast of the size of the BIM market for 2020 is the product of a bottom-up model constructed by integrating inputs on the key drivers and trends of demand outlined in the main report. In market overview and industry trend chapter, we have outlined the key drivers and trends that will shape the BIM market. The key drivers that are expected to have a high impact on the market include cost reduction during the entire process and increased production efficiencies, proliferation of the green buildings in the current market government mandates for the usage of BIM in many of the developed countries is one of the main drivers that has a direct impact on the demand of BIM. This section provides an overview of the modeling approach adopted and the data sources used. This section also describes how the data points were integrated to develop an overall view of the BIM market in 2020. The following section outline the points mentioned below: Availability of different versions of software in the market: Data sources were used to understand the approach of the calculation of market size of BIM in 2013 Proliferation of the green buildings in the current market: Data sources were used to understand the increasing demand of BIM with the proliferation of green buildings Government mandates for the usage of BIM: Data sources were used to understand the increased demand of BIM with government mandates 6
2.1.1 AVAILABILITY OF DIFF ERENT VERSIONS OF SOFTWARE WITH DIFFERENT LICENSING To access the impact of increased demand of BIM, we selected a sample of licenses which have been used for BIM process execution. This sample includes single user licenses and multi user licenses. We then looked at the average selling price of licenses for BIM process implementation. In this way we have arrived at market size for BIM for applications such as commercial, industrial, healthcare, residential, entertainment, sports and others for 2013. After that we have analysed at the forecasted volume of licenses along with the forecasted average selling price of BIM by 2020. By multiplying the number of forecasted licenses with the forecasted prices (ASP s) gives the demand of BIM by 2020. Various data sources were considered while determining the volume of BIM software licenses and the cost of BIM for process implementation. 2.1.2 EMERGING CLOUD-BASED BIM SOFTWARE I N THE MARKET Growth in the technology and innovations has huge impact on the demand for BIM. Various sources have been considered in order to arrive at the growth and demand of the BIM by considering the innovations being carried in the market. Cloud-based technology is one of the important software of BIM in terms of new technologies. Analysis of the new technologies has helped in understanding the year-on-year growth of BIM as per the market scenario. Then, we have arrived at the pricing of BIM and for different licenses as per the pros and cons of these technologies. This year-on-year growth helped us to forecast the market trends till 2020 and finally to evaluate CAGR of the Building Information Modeling market between 2014 and 2020. 2.1.3 SMART PHONES ARE LEA DING TO RAPID CHANGE Key vendors in this market have started implementing BIM in smartphones. Various sources have been considered along with the data collected from the expert interviews so as to arrive at the influence of mobile phones in increasing the demand of BIM in the market. Based on the market demand, we have estimated the price of licenses used for BIM implementation in processes. Products of number of licenses utilized and its price or average selling price has resulted in the market for BIM in terms of revenue. 7
2.2 MARKET SIZE ESTIMATION Both, top-down and bottom-up approaches were used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall BIM market. The research methodology used to estimate the market size includes the following details: the key players in the market were identified through secondary research and their market shares in respective geographies were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data presented in this report is consolidated and added with detailed inputs and analysis from MarketsandMarkets. The following figure shows an illustrative representation of the overall market size estimation process employed for the purpose of this study. FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH Bottom-Up Approach (Segmental Analysis) Global BIM Market Global Market Value Total Market Size ($Million) Summation of A x B of All Regions Average Selling Price (ASP) per Region for Each Type of Product Segment (B) Geographical Split to the Number of Units Sold (A) Number of Units Sold for Each Product Segment, Globally Primary: Demand-Side and Supply-Side Experts Secondary: Annual Reports, Presentations, Press Releases, Journals, Paid Databases, and MarketsandMarkets Repository Primary: Demand-Side and Supply-Side Experts Secondary: Annual Reports, Presentations, Press Releases, Journals, Paid Databases, and MarketsandMarkets Repository 8
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH Top-Down Approach (Segmental Analysis) Global BIM Market Total Global BIM Market ($Million) The Global Market Size Is Validated Through Primaries (Demand-Side and Supply-Side Experts) Percent Split for the Market Segments of the BIM Market Primary: Demand-Side and Supply-Side Experts Secondary: Annual Reports, Presentations, Press Releases, Journals, Paid Databases, and MarketsandMarkets Repository Geographical Split Regional and Country-Wise Market for Each Sub- Segment Primary: Demand-Side and Supply-Side Experts Secondary: Company Websites, Press Releases, and News Articles Primary: Demand-Side and Supply-Side Experts Secondary: Annual Reports, Presentations, Press Releases, Journals, Paid Databases, and MarketsandMarkets Repository The bottom-up procedure was employed to arrive at the overall market size of the BIM market from the revenue of key players (companies) in the market. Calculations based on the revenues of key companies identified in the market led to the overall market size. This overall market size was used in the top-down procedure to estimate the sizes of other individual markets (mentioned in the market segmentation of products, services, category, end users, and geography) via percentage splits from secondary and primary research. For the calculation of each type of specific market segment, the most appropriate immediate parent market size was used for implementing the top-down procedure. The bottom-up procedure was also implemented for data extracted from secondary research to validate the market segment revenues obtained. Market shares were then estimated for each company to verify the revenue shares used earlier in the bottom-up procedure. With the data triangulation procedure and validation of data through primaries, the exact values of the overall parent market size and each individual market size were determined and confirmed in this study. The data triangulation procedure implemented for this study is explained in the next section. 9
FIGURE 4 BREAK DOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, BY DESIGNATION, AND BY REGION NUMBER OF PRIMARY INTERVIEWS: BY COMPANY NUMBER OF PRIMARY INTERVIEWS: BY DESIGNATION NUMBER OF PRIMARY INTERVIEWS: BY REGION Note: *Others include sales managers, marketing managers, and product managers 2.3 MARKET CRACKDOWN & DATA TRIANGULATION After arriving at the overall market size from the market size estimation process explained above, the total market was split into several segments and sub-segments. In order to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market crackdown procedure was employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market was validated using both top-down and bottom-up approaches. 2.4 MARKET SHARE ESTIMATION The market share for the BIM companies has been arrived at on the basis of secondary data available through paid and unpaid sources and by analyzing product portfolios of major companies and rating them on the basis of performance and quality. These data points were further validated by primary sources. 10
2.4.1 KEY DATA FROM SECOND ARY SOURCES 1 PARAMETER Market Size in Terms of Value SOURCE Company Financials Magazines Journals Press Releases Paid Databases MarketsandMarkets Data Repository 2 Company Revenues Annual Reports Company Websites Public Databases MarketsandMarkets Data Repository 3 Qualitative Information (Market Dynamics, Market Trends) Company Websites Annual Reports Press Releases MarketsandMarkets Data Repository 2.4.2 KEY DATA FROM PRIMAR Y SOURCES PARAMETER KEY DATA 1 Geographic Split Overall market and sub-segments in 2012 CAGR of each region in the forecast period (2014 2020) The global BIM market, by geography North America, Europe, Asia-Pacific, and the RoW 2 Global Market Size The global market size for the year 2013 CAGR for the forecast period (2014 2020) The global BIM market The BIM market by sub-segments The BIM market for commercial, residential, industrial, educational, entertainment, sports, healthcare, and other applications The Industrial BIM market, by application 3 Market Split BIM tools software and services Architect, contractor, developer, building product manufacturer, facilities manager, and others Commercial, industrial, educational, entertainment, sports, healthcare, and other applications market The Healthcare BIM market, by application The Entertainment and sports BIM market, by application The Educational BIM market, by application The Commercial BIM market, by application Residential applications market, by application The BIM market, by type The BIM market, by end user The BIM applications market, by geography 11
2. 4. 2. 1 K e y I n d u s t r y I n s i g h t s The Commercial BIM market will be the major market accounting for almost % of the total BIM market. Industrial applications will be the fastest-growing segment and is estimated to grow at a CAGR of %-%. President and CEO, Leading BIM Company The average growth for the BIM market will be between %-%. Senior Architect, Leading Provider of BIM In the BIM market, with respect to tools, software market accounts for the highest share, whereas services market will be responsible for sizable growth. Marketing Head Leading Developer of BIM Software North America held the highest share in the BIM market and APAC will be the highly growing region. Sales Director, Leading BIM Provider Emerging markets such as South Korea, Singapore, and China unfold new avenues for the growth of the BIM market. This is due to the growing early adapters in these countries as to reduce their operating costs and to save time. CEO Leading BIM Software Company 12
2.4.3 ASSUMPTIONS 1 PARAMETER Commercial BIM Market, by Type ASSUMPTION Base year for calculation is 2013. A percentage split of ~% for software, ~% for services has been assumed, which was later confirmed by both primary and secondary sources. 2 3 4 5 6 Residential BIM Market, by Type Educational BIM Market, by Type Healthcare BIM Market, by Type Industrial BIM Market, by Type Entertainment BIM Market, by Type Base year for calculation is 2013. A percentage split of ~% for software, and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. Base year for calculation is 2013. A percentage split of ~% for software, and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. Base year for calculation is 2013. A percentage split of ~% for software and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. Base year for calculation is 2013. A percentage split of ~% for software and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. Base year for calculation is 2013. A percentage split of ~% for software and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. 7 Sports BIM Market, by Type Base year for calculation is 2013. A percentage split of ~% for software and ~% for services has been assumed, which was later confirmed by both primary and secondary sources. 8 Market Share Analysis, by Key Player Base year for calculation of market share analysis, by key player, is 2013. 13
9 10 11 12 Currency Value Exchange Rates and Currency Conversion Average Selling Price (ASP) Niche Market Segments All the forecasts are made with the revenue and volume calculated under the standard assumption that the value of the globally accepted currency the U.S. Dollar- remains constant over the next years. For conversion of various currencies to USD, average historical exchange rates were used according to the year specified. For all historical and current exchange rates required for calculations and currency conversions, http://www.oanda.com/ (OANDA) website was used in this research study. The ASP (Average Selling Price), wherever applied, are calculated using all kinds of suitable statistical and mathematical methods and considering external qualitative factors affecting the prices. ASP is taken by considering the single user and multi-user licensing prices.. For niche market segments where accurate data of the respective timeline was not available, the data was calculated using trend line analysis. In some instances where mathematical and statistical models could not be applied to arrive at the number, specific trends related to that particular market are generalized. 13 Qualitative Analysis The qualitative analysis done from the quantitative data arrived at is solely based on the understanding of the market and its trends by the team of experts involved in making this report. 14 Mutually Exclusive and Exhaustive Classification All market segments and sub-market segments listed in this report through various forms of classification are considered to be mutually exclusive of each other, with no overlap among them. Also, for each type of classification, all sub-market segments listed under a market are exhaustive in nature, that is, they cover the whole market. In cases where other fields may be present, where the listed market segments do not cover the entire market, a category named others is mentioned in the split-up of market statistics in the market data tables. Throughout the report, in any classification, non-inclusion of others field in market tables directly implies that listed market segments fully covers the respective parent market. Note: The market values have been rounded off till the second decimal. Due to this, there may be a slight difference in the actual total and the total mentioned in table. 14
3 MARKET BY TYPE 3.1 INTRODUCTION BIM is a process that is required for managing projects and every stage of the life cycle. For the execution of BIM, software and services are required in the construction of buildings related to different sectors such as commercial, residential, educational, healthcare, industrial, entertainment, and sports. Different versions of software are available in the market for the execution of BIM at different prices. FIGURE 5 SOFTWARE IS THE LEADING SEGMENT OF THE BUILDING INFORMATION MODELING MARKET Software Services 2020 2013 $Million Source: Annual Reports, SEC Filings, Press Releases, Investor Presentations, Expert Interviews, Industry Journal, and MarketsandMarkets Analysis TABLE 1 BUILDING INFORMATION MODELING MARKET SIZE, BY TYPE, 2013-2020 ($MILLION) Types 2013 2014 2015 2016 2017 2018 2020 CAGR% (2014-2020) Software Services Total Source: Annual Reports, SEC Filings, Press Releases, Investor Presentations, Expert Interviews, Industry Journal, and MarketsandMarkets Analysis 15
The software segment within the BIM market was valued at $ million in 2013 and is expected to grow to $ million by 2020, at an estimated CAGR of % from 2014 to 2020. This growth is due to the increasing demand for user-friendly devices to make complicated processes easier and implement them in a cost effective manner. The increasing awareness regarding BIM in projects has led to the growth of the software market in BIM. FIGURE 6 THE APAC REGION IS FUELING THE GROWTH OF THE BUILDING INFORMATION MODELING MARKET Europe North America Asia-Pacific CAGR: % RoW $Million 2020 2013 Source: Annual Reports, SEC Filings, Press Releases, Investor Presentations, Expert Interviews, Industry Journal, and MarketsandMarkets Analysis 16
4 GEOGRAPHIC ANALYSIS 4.1 INTRODUCTION The BIM market in this report has been segmented into four major geographies, namely North America, Europe, Asia-Pacific, and RoW. The total BIM market was valued at $ million in 2013; Europe is expected to reach $ million by 2020 at a CAGR of % from 2014 to 2020. APAC is expected to grow at the highest CAGR of % from 2014 to 2020. FIGURE 7 GEOGRAPHIC SNAPSHOT RAPID GROWTH MARKETS ARE EMERGING AS NEW HOT SPOTS % % % % % % % % % % % % % % < % growth % growth % growth > % growth Sources: Annual Report, SEC Filings, Investor Presentations, White Papers, Industry Journals, Expert Interview, Secondary Literature, and MarketsandMarkets Analysis 17
FIGURE 8 GERMANY AN ATTRACTIVE DESTINATION FOR ALL APPLICATION TECHNOLOGY CATEGORIES, BY SOFTWARE Application Category CAGR (%) from 2013 to 2020 Very Low Low Medium High Very High Sources: Annual Report, SEC Filings, Investor Presentations, White Papers, Industry Journals, Expert Interview, Secondary Literature, and MarketsandMarkets Analysis TABLE 2 BUILDING INFORMATION MODELING MARKET SIZE, BY GEOGRAPHY, 2013-2020 ($MILLION) Geography 2013 2014 2015 2016 2017 2018 2020 CAGR% (2014-2020) North America Europe APAC RoW Total Sources: Annual Report, SEC Filings, Investor Presentations, White Papers, Industry Journals, Expert Interview, Secondary Literature, and MarketsandMarkets Analysis The BIM market size was valued at $ million in 2013 and is expected to grow to $ million by 2020, at a CAGR of % from 2014 to 2020. This growth is mainly due to the U.S., which leads in the BIM market. North America leads due to strategic acquisitions, innovative product developments, and acquisitions in the region. The APAC region is expected to grow at the highest CAGR of % in the BIM market. This region is developing in terms of construction; moreover, there is an increasing support from the government regarding the use and implementation of BIM. Adequate training and consultation are being provided in order to increase the adoption rate of BIM in building projects, especially in countries such as Japan and China. RoW is expected to grow at a CAGR of % from 2014 to 2020 due to the low inflation rate, high property values, and healthy architectural and building industry, especially in the Middle East. 18
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