BOULDER, Colo. — The market for building information modeling (BIM) software and services is still emerging, but is evolving rapidly, according to a new report from Pike Research. The firm forecasts that annual worldwide revenue for BIM products and services will grow from $1.8 billion in 2012 to almost $6.5 billion in 2020.

“Building information modeling represents one of the most important breakthroughs in building design technology over the last decade,” said senior analyst Eric Bloom. “The next generation of buildings will be more intelligent and energy-efficient than any before. However, designing and delivering such buildings requires a level of collaboration that only BIM software can facilitate.”

The market for BIM software tools is led by a handful of well-known names, such as Autodesk, Bentley, Tekla, Nemetschek, and Gehry Technologies. Small firms that enter the market with an innovative BIM (or other) solution generally do not last long as independent firms because the larger players strategically acquire them to enhance their own product portfolios, notes Pike Research. The industry has also seen a increase in mergers and acquisitions in recent years, as firms prepare for the next phase of BIM technology advancement in areas like BIM to field solutions, cloud-based solutions, and mobile capabilities.

Publication date: 6/4/2012