Technology
Building Information Management System Market to Grow by USD 15.99 Billion from 2024-2028, Driven by Rising Global Construction Projects, AI’s Role in Shaping the Market Landscape – Technavio Report
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2 years agoon
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NEW YORK, Aug. 30, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global building information management system market size is estimated to grow by USD 15.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.26% during the forecast period. Rise in global construction projects is driving market growth, with a trend towards integration of cloud-based solutions for real-time collaboration. However, high implementation and operational costs for building information management systems poses a challenge. Key market players include ACCA software Spa, Accruent, Acuity Brands Inc., Autodesk Inc., Azbil Corp., Bentley Systems Inc., Bricsys NV, Delta Controls Inc., Eleco Plc, Honeywell International Inc., Johnson Controls International Plc., Nemetschek SE, Procore Technologies Inc., RIB Software GmbH, Schneider Electric SE, Siemens AG, Trane Technologies plc, Trimble Inc., and Vantage-BMS.
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Sector (Commercial, Residential, Industrial, and Institutional), Type (Software and Hardware), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)
Region Covered
Europe, North America, APAC, South America, and Middle East and Africa
Key companies profiled
ACCA software Spa, Accruent, Acuity Brands Inc., Autodesk Inc., Azbil Corp., Bentley Systems Inc., Bricsys NV, Delta Controls Inc., Eleco Plc, Honeywell International Inc., Johnson Controls International Plc., Nemetschek SE, Procore Technologies Inc., RIB Software GmbH, Schneider Electric SE, Siemens AG, Trane Technologies plc, Trimble Inc., and Vantage-BMS
Key Market Trends Fueling Growth
In the Building Information Management System (BIM) market, the integration of cloud-based solutions is a significant trend. Cloud technology enables real-time collaboration among architects, engineers, and construction professionals, regardless of their locations. This integration facilitates instantaneous updates and access to shared data, leading to increased efficiency and fewer errors. Notable companies offering cloud-based BIM solutions include Autodesk Inc. With BIM 360, Trimble Solutions Corporation with Trimble Connect, and Bentley Systems incorporated with ProjectWise. These platforms allow teams to work on the same model simultaneously, reducing delays and conflicts. The use of cloud-based BIM solutions streamlines workflows, enhances communication, and provides a single source of truth for project data. As technology advances, the ability to work collaboratively from different locations will become essential for successful project outcomes. Consequently, the integration of cloud-based solutions is expected to fuel the growth of the global BIM market during the forecast period.
The Building Information Management System (BIMS) market is experiencing significant growth due to increasing infrastructure projects and smart city initiatives. BIMS technologies, including 3D models and digital twins, are revolutionizing the global construction industry by enabling computer-controlled production and improved facility management. Utilities, transportation, and various sectors such as commercial, residential, industrial, and educational institutes are embracing BIMS to optimize energy spending through preventive maintenance and real-time monitoring of HVAC, lighting systems, and other energy-consuming assets. BIMS also enhances security management, emergency management, and professional services through IoT sensors, AI, and cloud platforms. Construction professionals, including civil engineers, architects, consultants, construction supervisors, and building contractors, are leveraging BIMS to streamline projects and improve overall efficiency.
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Market Challenges
Building information management systems (BIMS) are essential tools for managing construction projects and facilities, but their implementation and operational costs can be substantial. The initial investment for BIMS can range from USD20,000 to USD5 million, including software purchases, infrastructure upgrades, and system integrations. For large-scale or complex projects, costs can exceed USD10 million. Ongoing maintenance, which includes software updates, technical support, and data management, adds to the financial burden, with annual costs ranging from USD50,000 to USD500,000. Training staff to use BIMS effectively also requires an investment, with costs varying based on the number of users and the depth of training required. These high costs can be a significant barrier to adoption, particularly for smaller organizations or projects with limited budgets. Consequently, the substantial costs associated with BIMS may hinder the growth of the global building information management system market during the forecast period.The Building Information Management System (BIMS) market is growing rapidly as more building owners recognize the benefits of digitizing their operations. However, implementing a BIMS comes with challenges. Preventive maintenance, facility management, security management, energy management, infrastructure management, and emergency management require seamless integration. Professional services and managed services are essential for successful implementation. BIMS caters to various sectors, including residential, commercial, and industrial. Commercial buildings like office buildings, educational institutes, airports, and railways, as well as residential premises, benefit from BIMS. Industrial applications include factories, production plants, distribution facilities, and warehouses. Construction, civil engineers, architects, consultants, construction supervisors, and building contractors are key stakeholders in the BIMS value chain. Sensors, AI, cloud platforms, software, and machine learning are critical components of BIMS. The construction phase is a crucial time to implement BIMS, ensuring optimal use of resources and efficient project delivery.
For more insights on driver and challenges – Download a Sample Report
Segment Overview
This building information management system market report extensively covers market segmentation by
Sector 1.1 Commercial1.2 Residential1.3 Industrial1.4 InstitutionalType 2.1 Software2.2 HardwareGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Commercial- The Building Information Management System (BIMS) market is growing as more businesses recognize its benefits. BIMS streamlines construction projects by managing data related to design, construction, and facility management. This leads to improved project efficiency, reduced costs, and enhanced collaboration among team members. Companies in the architecture, engineering, and construction industries are increasingly adopting BIMS to optimize their operations. The market is expected to continue expanding due to the increasing demand for better project management solutions.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Building Information Management System (BIMS) market is experiencing significant growth due to the increasing adoption of digital technologies in the global construction industry. Infrastructure projects and smart city initiatives are driving the demand for BIMS, as they require advanced systems to manage complex data and optimize resources. BIMS utilizes computer-controlled production, 3D models, digital twins, and BMS technologies to enhance building operations. IoT sensors, AI, and cloud platforms are integral components of BIMS, enabling real-time monitoring and predictive maintenance for HVAC, lighting systems, and energy management. Building owners benefit from improved facility and security management, reducing energy spending and enhancing overall operational efficiency. Civil engineers and construction professionals leverage BIMS software to streamline project planning, design, and execution.
Market Research Overview
The Building Information Management System (BIMS) market is experiencing significant growth due to the increasing adoption in various sectors, including infrastructure projects and smart city initiatives. BIMS enables computer-controlled production, digital twin technology, and facility management in the global construction industry. Utilities, transportation, and various sectors such as HVAC, lighting systems, and energy management are leveraging BIMS for energy spending optimization, preventive maintenance, and improved efficiency. BIMS technologies are integrated with Internet of Things (IoT) sensors and AI, including machine learning, to monitor and manage building operations. The market spans across various sectors, including residential, commercial, and industrial, encompassing commercial buildings, residential premises, office buildings, educational institutes, airports and railways, factories, production plants, distribution facilities, and warehouses. Building owners, civil engineers, architects and consultants, construction supervisors, and building contractors are key stakeholders in the BIMS market. BIMS solutions offer professional services and managed services to cater to the diverse needs of clients. The market is expected to continue its growth trajectory due to the increasing demand for efficient and sustainable building management systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
SectorCommercialResidentialIndustrialInstitutionalTypeSoftwareHardwareGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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View original content:https://www.prnewswire.com/news-releases/best-ai-design-tools-2026-capcut-named-a-top-choice-for-creating-images-and-marketing-assets-by-software-experts-302828625.html
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View original content:https://www.prnewswire.com/news-releases/best-ai-design-tools-2026-capcut-named-a-top-choice-for-creating-images-and-marketing-assets-by-software-experts-302828625.html
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Samsung Selects Chandigarh University Student as ‘Punjab AI State Topper’
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CHANDIGARH, India, July 18, 2026 /PRNewswire/ — A Bachelor of Computer Applications (BCA) student of Chandigarh University, Devesh Panwar, has been named the “Punjab State Topper” in the Artificial Intelligence (AI) under the Samsung Innovation Campus (SIC) AI Program organised by Samsung in collaboration with Telecom Sector Skill Council (TSSC) and training partner Focal Skill Development (Focalyt) to equip Indian youth with industry-relevant in-demand skills in AI, loT, Big Data, and Coding & Programming, preparing them for future careers.
A final-year student of Bachelor of Computer Applications (BCA) at University Institute of Computing (UIC) of Chandigarh University, Devesh Panwar also won a cash award of Rs 1 lakh along with a laptop, and exclusive Samsung rewards for achieving this remarkable milestone under the Samsung Innovation Campus AI Program.
“Being named ‘AI State Topper’ was a moment of profound pride and validation for me. Hard work, intense technical training and a passion for AI culminated in the immense honor of the Punjab State Topper title. Besides getting access to state-of-the-art tools to fuel my future research and development endeavor, I gained world-class knowledge during the Samsung Innovation Campus (SIC) AI Program. It helped me in gaining hands-on experience and applied AI to solve real-world challenges, especially in aeronautical and technical domains,”
During Samsung Innovation Campus (SIC) AI Program, Devesh and his team worked on innovative AI capstone project which was presented before the jury panel as part of the final assessment.
“Our team developed the advanced AI-powered system AI Research Agent, a Retrieval-Augmented Generation (RAG) platform designed for intelligent querying of private document collections. Organizations, researchers, legal professionals, and HR teams often work with large collections of documents. Traditional search methods rely heavily on keyword matching and require significant manual effort to locate relevant information. The project was developed to address the limitations of traditional document search systems, which often struggle with contextual understanding, retrieval accuracy, learning adaptability, and response speed,” said Devesh.
“The developed system demonstrated significant improvements over traditional document retrieval approaches with faster response generation with integration of modern AI techniques, full-stack development, database systems, and intelligent automation into a single practical solution. By combining modern RAG architecture with innovative retrieval and reasoning mechanisms, this system provides a fast, intelligent, and user-friendly solution for knowledge discovery and resume evaluation. This project not only enhanced our technical expertise in Artificial Intelligence and Full-Stack Development but also strengthened our problem-solving, teamwork, and professional communication skills. It stands as a significant achievement of our Samsung Innovation Campus 2025 journey and reflects our commitment to building impactful AI solutions for real-world challenges,” he added.
Congratulating Devesh Panwar for being named “Punjab State Topper” AI under the Samsung Innovation Campus Samsung Innovation Program, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University, said, “Devesh’s achievement reflects Chandigarh University’s focus on experiential learning and industry-academia collaboration. Through the Samsung Innovation Campus AI Program, CU students gain practical exposure to AI and building solutions for real-world challenges. This accomplishment reflects not only Devesh’s commitment to excellence but also the growing culture of innovation and industry-oriented learning at Chandigarh University,”.
“Since its inception, Chandigarh University has set benchmarks for world-class education with its dynamic hands-on experiential learning model, industry-aligned programs, dynamic fraternity, state-of-the-art infrastructure facilities and impeccable placements. Samsung Innovation Program is also part of our initiatives to develop a future-ready talent pool equipped with advanced capabilities in AI, loT, Big Data, and Coding and Programming. By bridging the gap between theoretical learning and real-world application, this collaboration helps in providing CU’s computer science and computing students exposure to cutting-edge and emerging technologies. CU’s this partnership with Samsung is focused on building future-ready talent equipped with industry-relevant skills in AI and emerging technologies,” Sandhu said.
He said Chandigarh University’s Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology. “Chandigarh University carries a vision of crafting next-gen IT professionals who can take up industry challenges effectively and our Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology. UIC’s hands-on approach paves the way for a smooth transition to the workforce after graduation. Our students are equipped with the best knowledge, skills and passion to succeed in any number of computing careers. CU’s Institute of Computing renders cutting-edge education ranging from the expertise in traditional software development -to- modern computing technologies. Fully-equipped industry-sponsored labs, industry-aligned curriculum, and accreditations and validations by top companies such as Intel, Microsoft, Google Android, Red Hat etc. give our students an exclusive edge over others,” the Chandigarh University CMD said.
Sandhu said the latest edition of QS World University Rankings has yet again reaffirmed Chandigarh University global standing as a top educational institution. “Continuing its remarkable rise among the world’s leading higher education institutions, Chandigarh University (CU) has made impressive strides in the latest edition of prestigious QS World University Rankings 2027 by securing an overall world rank of 526, an increase of 49 ranks as compared to 575th rank in QS’ 2026 Rankings. This is for the fifth consecutive year that Chandigarh University’s global rankings have witnessed an impressive surge with CU’s world rank going up by an impressive 274 ranks — from the 800th rank in 2023 to 526th in 2027’s Rankings,”.
“As per the latest QS World University Rankings, with All India Rank of 13 among all universities in the country as compared to 16th rank in 2026’s rankings, Chandigarh University now ranks among the top 1% of universities in India and the top 2% of universities in the World, underscoring its growing reputation as a leading institution of higher learning, both in India and globally,” he added.
About Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.
Website address: https://www.cuchd.in/
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