Building Information Modeling (BIM) Extraction Software Market Expected to Reach US$ 228.7 Mn by 2026

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According to a new market report published by Transparency Market Research, the global BIM extraction software market is expected to reach a value of US$ 228.7 Mn by 2026 on account of growing BIM implementation across the construction industry. The market is projected to expand at a CAGR of 10.1% during the forecast period from 2018 to 2026. Asia Pacific is anticipated to experience healthy growth which is expected to be followed by Middle East & Africa during the forecast period. The government building segment is expected to see flourishing growth, owing to rising government focus on mandating BIM across construction activities. 

Rapid developments in technologies have led the construction industry toward digitization. There has been a significant need for technological solutions for architects and engineers in the construction industry to design and plan effective and efficient models. This is likely to create strong demand for BIM extraction software in the near future. Similarly, governments across countries such as the U.S., Australia, Germany, Finland, Singapore, and Denmark are focusing on enhancing technological aspects of the construction industry.

Additionally, governments are mandating BIM implementation in public infrastructure developments. Public agencies as well as private companies are also emphasizing on implementing BIM across construction activities mainly due to the benefits offered by BIM solutions. Some of these benefits include enhanced project process outcome, reduced project cost, reduced rework, and reduced project duration among other internal, project, and process benefits offered by BIM.

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