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The Building Information Modeling Solutions Market is projected to grow by USD 13.33 Billion from 2024-2028, driven by rising demand for large-scale project management, AI Report- Technavio

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NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global building information modeling solutions market size is estimated to grow by USD 13.33 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 22.19% during the forecast period. Increasing need for management of large-scale projects is driving market growth, with a trend towards growth of 5d building information modeling. However, high implementation and operational costs poses a challenge. Key market players include 4M SA Advanced Software Engineering Systems, ABB Ltd., ACCA software Spa, AECOM, Asite Solutions Ltd., Autodesk Inc., AVEVA Group Plc, Bentley Systems Inc., Cadsoft Corp., Dassault Systemes SE, GRAITEC Innovation SAS, Hexagon AB, Nemetschek SE, Pinnacle Infotech Inc, Plannerly, Planon Group, Schneider Electric SE, Siemens AG, The Beck Group, and Trimble Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Software and Services), Type (Commercial, Residential, Infrastructure, Industrial, and Institutional buildings), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

4M SA Advanced Software Engineering Systems, ABB Ltd., ACCA software Spa, AECOM, Asite Solutions Ltd., Autodesk Inc., AVEVA Group Plc, Bentley Systems Inc., Cadsoft Corp., Dassault Systemes SE, GRAITEC Innovation SAS, Hexagon AB, Nemetschek SE, Pinnacle Infotech Inc, Plannerly, Planon Group, Schneider Electric SE, Siemens AG, The Beck Group, and Trimble Inc.

Key Market Trends Fueling Growth

Building information modeling (BIM) solutions have been instrumental in enhancing the efficiency and accuracy of construction projects by providing a 3D representation of structures. However, the lack of integration of time and cost factors in 3D BIM solutions has necessitated the emergence of 5D BIM solutions. These advanced solutions offer additional dimensions, enabling investors to easily access crucial information such as deviations from the pre-determined project schedule and budget, an in-house database with cost and labor productivity rates, efficient preparation of cost schedules, and real-time cost estimation for quick comparison with the target cost. The ability to effectively manage time, cost, and resources will fuel the growth of the global building information modeling solutions market during the forecast period. 

The Building Information Modeling (BIM) solutions market is experiencing significant growth due to increasing housing demand and the shift towards digital design tools in residential structure design. BIM software enables architectural planning by creating digital representations of buildings, including their physical and functional characteristics. This technology is revolutionizing the construction process by replacing paper-based design with computer-controlled manufacturing. CAD systems like Autodesk Revit and ArchiCAD are popular BIM solutions used in the construction sector for planning, design, management, and coordination. BIM capabilities extend beyond buildings to infrastructure projects, including public and private sectors, commercial and industrial projects. BIM solutions offer enhanced productivity through virtual reality (VR) and augmented reality (AR) technologies, allowing users to visualize and manipulate digital representations in a more efficient way. Data management technologies, such as remote servers and cloud-based solutions, facilitate inter-user coordination and data transmission, making BIM an essential tool for the digital engineering sector. BIM proficiency is crucial for construction projects, with HVAC systems and other building services being modeled in detail. The BIM market continues to evolve, offering advanced capabilities and integrating with other digital technologies like VR, AR, and data management systems. 

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Market Challenges

The global building information modeling solutions market faces impeded growth due to the high cost of these solutions. Small architectural and engineering firms in the construction industry are hesitant to adopt these solutions because of their prohibitive price. Building information modeling solutions packages come with numerous modules for various applications, but they offer minimal value for small and medium enterprises (SMEs) due to the size of their projects. SMEs struggle to invest large amounts in small projects and are skeptical about the return on investment. Additionally, the support and maintenance costs of building information modeling solutions are high, posing a significant challenge. The implementation and operating costs increase due to additional design or configuration tools and services, which are often required to support the implementation of building information modeling solutions. These add-on services add to the product’s cost. While some configuration is included in the license fee, customization or significant changes in computation significantly increase the price. Consequently, the high implementation and operating costs will hinder the growth of the global building information modeling solutions market during the forecast period.The Building Information Modeling (BIM) solutions market is growing rapidly due to the increasing need for digital representations of infrastructure projects. BIM provides a more efficient way to manage the physical and functional characteristics of facilities, from public infrastructure like roads and bridges, to private infrastructure such as commercial and industrial projects. Digital technology, including Virtual Reality (VR) and Augmented Reality (AR), enhances BIM capabilities, improving inter-user coordination and data management. BIM solutions enable construction productivity gains, with software like Autodesk Revit and ArchiCAD leading the way. HVAC systems, sustainable buildings, smart cities, and smart offices are all benefiting from BIM. As the urban population grows, the demand for BIM proficiency in the construction industry and digital engineering sector increases. Data transmission and management technologies, including remote servers and cloud-based solutions, are essential for effective BIM implementation. BIM solutions are transforming the construction industry, from architecture and residential real estate to infrastructure and industrial projects. With the integration of VR, AR, and 3D BIM software, construction projects can be planned, designed, and executed more efficiently and effectively. The future of BIM lies in its ability to meet the demands of a rapidly changing world, from HVAC systems to smart cities.

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Segment Overview

This building information modeling solutions market report extensively covers market segmentation by

Component1.1 Software1.2 ServicesType2.1 Commercial2.2 Residential2.3 Infrastructure2.4 Industrial2.5 Institutional buildingsGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Software- The Building Information Modeling (BIM) Solutions market’s software segment plays a crucial role in the planning, designing, construction, and management of building projects. This segment comprises various applications such as architectural design, sustainability, structures, mechanical, electrical, and plumbing (MEP), and construction management. Key vendors in this segment include Autodesk Inc., Bentley Systems Inc., Nemetschek SE, and Trimble Inc. Autodesk Inc., based in the US, offers Revit, a widely-used building information modeling solution with features for architectural design, MEP, and structural engineering. Bentley Systems Inc., also based in the US, provides an overall solution with its MicroStation platform, known for its data integration capabilities. Nemetschek SE offers various BIM solutions through its brands like Allplan, Graphisoft, and Vectorworks, catering to different aspects of building design and construction. Trimble Inc. Offers Tekla Structures, specializing in structural engineering and construction management. Government initiatives and the need for transparency, efficiency, and cost savings are driving the adoption of BIM solutions. For instance, the UK government mandates the use of BIM solutions for all public construction projects. The software’s ability to provide detailed 3D models, clash detection, and precise cost estimations enhances project outcomes by reducing errors and rework. These factors contribute significantly to the growth of the BIM Solutions market during the forecast period.

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Research Analysis

Building Information Modeling (BIM) solutions have revolutionized the construction industry by enabling digital design, planning, and management of residential structures. This technology allows for the creation of 3D models that contain essential information about a building’s design, engineering, and construction. Housing demand and sustainable buildings are major drivers of the BIM modeling sector, which includes software for architectural planning, HVAC design, and computer-controlled manufacturing. The construction process benefits from BIM solutions through improved collaboration, reduced errors, and enhanced visualization. Traditional paper-based design methods are being replaced by digital design tools like Autodesk Revit and ArchiCAD. Virtual Reality (VR) and Augmented Reality (AR) technologies further enhance the BIM experience, allowing for visualization and interaction with building models. BIM software is not limited to architecture but extends to residential real estate, smart cities, and smart offices. The integration of BIM with Computer-Aided Design (CAD) systems and the adoption of sustainable building practices are key trends shaping the future of the BIM market. The construction sector stands to gain significantly from the implementation of BIM solutions, leading to increased efficiency, cost savings, and better quality buildings.

Market Research Overview

Building Information Modeling (BIM) solutions have revolutionized the construction industry by enabling digital representations of buildings and infrastructure, integrating physical and functional characteristics. BIM solutions are essential for architectural planning, housing demand analysis, and design management in the residential structure sector. These digital design tools facilitate inter-user coordination, data transmission, and data management technologies, including remote servers and cloud-based solutions. BIM solutions are increasingly adopted in the construction sector for commercial, industrial, public, and private infrastructure projects. They offer significant benefits, such as increased construction productivity, improved planning, and enhanced BIM proficiency. The modeling sector leverages BIM capabilities to design HVAC systems, electrical installations, and other building components in 3D, using software like Autodesk Revit and ArchiCAD. BIM solutions also incorporate virtual reality (VR) and augmented reality (AR) technologies, allowing users to visualize and interact with digital models in a more efficient way. This innovation is particularly valuable for sustainable buildings, smart cities, and smart offices, catering to the growing urban population. General contractors and construction project managers can benefit from BIM solutions to streamline the construction process, reduce errors, and improve overall project efficiency. The digital engineering sector continues to innovate, offering new BIM capabilities and expanding the potential applications for these powerful digital design tools.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareServicesTypeCommercialResidentialInfrastructureIndustrialInstitutional BuildingsGeographyNorth AmericaEuropeAPACSouth 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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Cash or Card? New Upgraded Points Survey Reveals How Travelers Pay Abroad

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October 28, 2026

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AUSTIN, Texas, Oct. 28, 2026 /PRNewswire/ — A new Upgraded Points survey of 1,500 recent international travelers, including 1,000 Americans, finds that travelers use a mix of cash and cards abroad, but exchange rates, fees, and declined transactions can complicate purchases.

“Spending money should be the easy part of a trip abroad,” said Ryan Smith, Director of News at Upgraded Points. “But exchange rates, fees, and payment options can complicate even the simplest purchase. We wanted to learn how travelers prepare, where their plans run into trouble, and what they do when convenience and the best exchange rate move in different directions.”

Study Methodology

Upgraded Points surveyed 1,500 adults who had traveled internationally within the past 12 months, including 1,000 U.S. adults and 500 adults from other countries. Respondents answered questions about payment methods, cash habits, credit card use, airport currency exchanges, and their confidence navigating exchange rates. The results were compared to show how Americans’ payment habits differ from those of other international travelers.

Payment Planning Often Starts Months Before a Trip

Nearly one-third (32%) begin planning how they’ll pay abroad three to six months before departure. U.S. travelers are more likely than non-U.S. travelers to start earlier, with 20% beginning more than six months ahead, compared with 12% of non-U.S. travelers.

Travelers’ Confidence in Exchange Rates Varies

Just 35% of respondents said they feel very confident understanding exchange rates abroad. Confidence also varied by age and gender:

44% of men feel very confident, compared with 26% of women.28% of Gen Z travelers feel very confident, compared with 40% of Gen X travelers and 37% of Baby Boomers.

Cash and Cards Remain Popular Abroad

Cash in the local currency and physical credit cards were nearly tied as the payment methods travelers most often use abroad. Mobile wallets were more popular among younger travelers:

71% use cash in the local currency.69% use a physical credit card.44% use a mobile wallet, including 56% of Gen Z travelers and 22% of travelers age 61 and older.35% use a physical debit card.

Most Travelers Carry Local Currency

More than 8 in 10 travelers (81%) carry cash in the destination’s currency, often for situations where cards may not be accepted:

64% use it at street vendors, markets, or small businesses.55% use it for tips and other customary cash payments.53% carry it for emergencies.

Travelers generally avoid carrying a large amount at once. About 44% exchange enough cash for several days, while 26% exchange enough for the full trip.

Familiar Card Brands Lead Among U.S. Travelers

Among U.S. respondents, Visa was the most commonly used card network, while Chase and Capital One were the most commonly used issuers:

Visa: 24%Chase: 21%Capital One: 19%American Express: 15%

Fees and Declined Cards Can Complicate Purchases

Among all respondents, travelers most often said their bank or card company contacted them about a purchase made abroad. Other issues increased the cost of a purchase or prevented it from going through:

38% were contacted by their bank or card company about a purchase.34% paid more than expected because of the exchange rate.29% were charged an unexpected foreign transaction fee.26% had a card declined.

Find the full study here.

About Upgraded Points LLC

Headquartered in Austin, Texas, Upgraded Points is a travel company that helps to demystify the complex world of travel and credit cards. Launched in 2016 by Alex Miller, Upgraded Points uses targeted research efforts and in-depth studies to help travelers maximize their travel, points, and experiences. Learn more at www.UpgradedPoints.com.

Media Contact:
Alex Miller, Founder
1-214-646-8866
425187@email4pr.com

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SOURCE Upgraded Points

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ESI supplying solar array components to missile defense programs

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October 28, 2026

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SIMI VALLEY, Calif., Oct. 28, 2026 /PRNewswire/ — ESI Motion Inc. is proud to announce that it is supplying the Solar Array Drive Electronics (SADE) to Lockheed Martin for its work on the Space Development Agency’s Proliferated Warfighter Space Architecture (PWSA) programs.

Under the agreement, ESI Motion’s SADE technology will support SDA as the PWSA is developed.

Defending our nation in space is more important than ever. The Space Development Agency’s PWSA programs provide the military with a network of satellites with secure communication, missile tracking and space-based support to make sure our troops have the latest and greatest technology.

The SADE consists of our Space-rated, flight heritage, SuperNova and Pulsar motor controllers. These motion controllers ensure all mission parameters are fulfilled, with high-reliable technology. 

ESI Motion Inc., U.S. Company, is a trusted supplier and partner, supporting mission operations for space, military and industrial customers around the world for over 20 years. Please visit our website; www.esimotion.com

Mitchell Haerterich, mhaerterich@esimotion.com

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SOURCE ESI Motion

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Envoy AI Launches “Boss of Machines” Program to Develop the Next Generation of Freight Leaders

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October 28, 2026

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New AI Operations Lab will provide college students with hands-on experience in freight technology, operational transformation, and a $2,500 scholarship.

CHATTANOOGA, Tenn., Oct. 28, 2026 /PRNewswire-PRWeb/ — Envoy AI, the AI Native platform behind logistics autonomous agent system and execution layer Ellie, today announced the launch of Boss of Machines: AI Operations Lab, a new internship and scholarship program designed to prepare the next generation of logistics professionals for an industry increasingly shaped by artificial intelligence and digital labor.

The people starting their careers in freight now are going to spend a lot of their day managing agents. Somebody has to be the boss of those machines. We named the program after that job because it’s the one brokerages are going to be hiring for.

The program was introduced by Envoy AI CEO Robby Nathan during his fireside chat at FreightWaves’ F3: Future of Freight Festival on October 27.

“Freight has always been a people business, and that isn’t changing,” said Robby Nathan, Envoy AI CEO. “What is changing is how the work gets done. We want students to understand that shift firsthand. There’s a big difference between learning about AI in a classroom and seeing what it takes to put it to work in a real operation. Our goal is to give them that experience and help prepare them to become the leaders this industry will need.”

Launching in spring 2027, the three-month program will select two college juniors or seniors for an immersive experience working directly with Envoy AI’s product, engineering, and operations teams. Participants will gain firsthand exposure to how AI technology is developed, implemented, and used to solve real operational challenges across the freight industry.

Preparing Students for a Changing Industry

As freight companies adopt AI to automate routine work, improve productivity, and scale operations, the skills future logistics leaders need are evolving.

The Boss of Machines program bridges the gap between classroom education and the practical experience needed to lead technology-enabled operations.

Students will participate in four areas of learning:

Building AI for Operations: Understanding how AI agents are developed and applied to freight workflows.Deploying Digital Labor: Learning how new technology is integrated into existing systems, implemented with customers, and adopted by operational teams.Measuring Operational Performance: Exploring the role of analytics, productivity, and return on investment in evaluating technology initiatives.Leading Modern Freight Operations: Developing an understanding of how people and AI agents work together to manage and execute freight operations.

Investing in the Next Generation

The initiative reflects Envoy AI’s commitment to developing talent and giving students meaningful exposure to the technology and operational practices shaping the future of transportation.

“About 75% of the freight in our live accounts is already booked through Ellie, and that changes the job a new hire walks into,” said Nathan. “The people starting their careers in freight now are going to spend a lot of their day managing agents. That takes someone who can tell when a rate doesn’t make sense for the lane, and who’ll catch a carrier about to fall off before the shipper ever hears about it. Somebody has to be the boss of those machines. We named the program after that job because it’s the one brokerages are going to be hiring for.”

Throughout the program, students will work alongside experienced industry professionals, gaining exposure to product development, customer implementations, operational workflows, and the business decisions involved in deploying AI at scale.

Upon successful completion of the three-month program, each participant will receive a $2,500 scholarship to support their fall 2027 studies.

Applications and Program Timeline

The inaugural Boss of Machines: AI Operations Lab will welcome two students for the spring 2027 semester.

The program is open to college juniors and seniors interested in logistics, supply chain management, technology, engineering, business operations, and related fields.

Applicants will be asked to share their interests, relevant experience, and perspectives on how technology can improve freight operations.

Envoy AI will announce selected participants in January 2027, ahead of the spring program kickoff.

Additional program details and application information will be available through Envoy AI’s website.

About Envoy AI

Envoy AI develops AI-powered digital labor solutions for freight and logistics operations. Through its AI workforce, Ellie, the company helps logistics teams automate operational workflows, improve productivity, and execute freight processes across existing transportation systems. Envoy AI helps transportation organizations scale operations through practical AI applications.

Media Contact

Michelle McBride, Envoy AI, 1 972-821-2012, michelle@tryenvoy.ai, tryenvoy.ai

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SOURCE Envoy AI

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