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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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ScienceOra Demonstrates AI-Assisted Hydrogen-Production Catalyst Design Workflow at Tencent Global Digital Ecosystem Summit

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The workflow spans literature analysis, candidate design, experimental planning and industrial decision support, extending AI4S into materials research

SHENZHEN, China, Oct. 30, 2026 /PRNewswire/ — Wenge AI demonstrated an AI-assisted hydrogen-production catalyst design workflow supported by ScienceOra at the 2026 Tencent Global Digital Ecosystem Summit. The demonstration showed how AI for Science (AI4S) can connect literature analysis, catalyst candidate design, experimental planning and industrial decision support, helping materials researchers translate scientific evidence into actionable research plans.

ScienceOra is Wenge AI’s intelligent research decision platform, built on the ScienceOne Scientific Foundation Model. For specialist research tasks such as materials development, the platform brings together scientific models, professional literature, research data and tools to support information access, research-plan development and scientific decision-making.

From literature analysis to catalyst candidate design

The demonstration focused on the design of a high-entropy alloy catalyst for the alkaline hydrogen evolution reaction. To address the need for high activity and durability, ScienceOra searched professional literature and drew on published research methods and elemental properties to support the development of candidate designs. It also cross-checked optimization proposals against relevant literature, providing researchers with references that could be reviewed and verified.

Rather than simply generating material formulations, the workflow connects documentary evidence, materials knowledge and specific design objectives to support more targeted analysis of candidate solutions. Researchers remain responsible for assessing scientific validity and determining subsequent research directions.

From experimental planning to industrial decision support

For experimental planning, ScienceOra can assist in developing research protocols around candidate designs, helping researchers organize experimental variables and producing testing standard operating procedures (SOPs) and related reference information for subsequent validation.

For industrial applications, the platform can also support comparative analysis across dimensions such as the feasibility of scaled hydrogen production, performance at industrially relevant current densities, durability, raw-material availability and compatibility with mass-production synthesis processes. It can then assist in establishing decision priorities, screening criteria and process-improvement recommendations.

Candidate designs, experimental plans, process recommendations and references can be consolidated into a structured research report, helping R&D teams assess scientific evidence alongside engineering constraints. AI provides analytical and decision support, while experimental testing and scientific validation remain essential parts of materials research.

Previously disclosed collaboration reports design efficiency and activity improvements

In a previously disclosed industry–research collaboration on hydrogen-production catalyst design, ScienceOra supported literature analysis and research-plan development. The collaboration reported a 38% improvement in catalyst activity and reduced the design stage from several months to 30 minutes. The case illustrates the potential of domain-specific AI to connect scientific literature, research design and engineering requirements.

ScienceOra was recently made available on Tencent WorkBuddy, with an initial offering of more than 30 research expert agents and skills covering literature analysis, research hypotheses, plan design, modeling and simulation, validation analysis and research communication. The conference demonstration further illustrated how ScienceOra can be applied to specialist materials research, as AI4S moves beyond general information processing toward support for research workflows and industrial R&D decision-making.

For more information, visit https://www.scienceone.ai/portal/.

About Wenge AI

Wenge AI (1956.HK) is a provider of artificial intelligence technology and service platform products for enterprises. With self-developed large models as its core, the company helps enterprises build practical intelligent platforms and applications. Founded by a team of AI scientists from the Chinese Academy of Sciences, Wenge AI has deep technological expertise in large models, cognitive intelligence and complex-system modeling, and is committed to advancing AI from technological capabilities to enterprise-level applications.

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SOURCE Wenge AI

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Cake Digital Bank Wins Gold at Qorus-Infosys Finacle Banking Innovation Awards 2026

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ROME, Oct. 31, 2026 /PRNewswire/ — Cake Digital Bank, a digital-only bank from Vietnam, has won Gold at the Qorus-Infosys Finacle Banking Innovation Awards 2026 for its initiative, “Reinventing Financial Experiences Through an AI-First Banking Model.” Cake was the only financial institution from Vietnam recognized at this year’s awards.

The winners were celebrated in Rome, Italy, during Infosys Finacle Conclave 2026. The 13th edition of the awards attracted 538 submissions from 206 financial institutions across 68 countries, with 37 institutions recognized across ten award categories. The selection process combined voting by industry peers with evaluation by an expert jury of 81 senior banking executives.

The award-winning institutions included leading international banking names such as Santander, Commonwealth Bank, DBS, Maybank, and CaixaBank, reflecting the global scope and competitive landscape of the awards.

John Berry, Chairman of Qorus, observed that the banking industry is entering a new era in which AI is becoming integral to innovation, transforming initiatives and expanding the possibilities of financial services.

Building an AI-First Banking Model from the Ground Up

As artificial intelligence becomes increasingly central to banking innovation, financial institutions face a growing challenge: translating technological capabilities into better customer experiences, greater operational efficiency, and sustainable business performance.

Cake’s AI-first approach reflects this industry shift while taking a different starting point. Rather than integrating AI into established banking processes, Cake was built as a digital-only bank from the outset, embedding AI, data, and automation into its technology architecture, operating model, and customer journeys.

This greenfield foundation has enabled Cake to develop an integrated AI-first banking model, where technology supports how the bank makes decisions, manages operations, and delivers financial services at scale.

Supported by its independently developed core banking and card management systems, Cake applies AI across the banking value chain, from customer onboarding, credit assessment, and fraud prevention to risk management, customer service, and personalized financial recommendations.

Beyond operational efficiency, Cake has also invested in localized AI capabilities designed specifically for Vietnamese users, enabling more accessible, responsive, and personalized financial experiences.

Scaling Growth with Efficiency and Sustainable Business Performance

Nearly six years since its launch, Cake has grown to serve more than 8 million customers, demonstrating the scalability of its branchless digital banking model.

Cake achieved positive EBITDA in Q3 2024, just 3.5 years after launch, marking a significant milestone in demonstrating the viability of its digital-only banking model. The bank subsequently recorded 173% year-on-year revenue growth in 2025, followed by a further 121% growth in 2026, reflecting sustained business momentum as it continues to scale. Meanwhile, average revenue per user (ARPU) increased from USD 12 in 2024 to USD 44 in 2026, highlighting Cake’s ability to generate greater value from its growing customer base.

Beyond customer acquisition, Cake’s growth strategy increasingly focuses on deepening customer relationships and expanding the range of financial needs served through its platform and partner ecosystems. This approach reflects the bank’s evolution toward a mature digital banking model, where scale is complemented by stronger customer engagement, operational efficiency, and long-term business sustainability.

Nguyen Huu Quang, CEO of Cake Digital Bank, said:

“Winning Gold at the Qorus-Infosys Finacle Banking Innovation Awards is a meaningful international recognition of Cake’s AI-first banking model. From the beginning, our ambition has been to build a digital bank that combines technological innovation with sustainable business performance, while making financial services simpler, more accessible, and more relevant to customers. This recognition reinforces our commitment to delivering world-class banking experiences for Vietnamese users and continuing to advance our AI-first capabilities.”

The Gold Award marks another milestone in Cake’s development as a next-generation AI-first digital bank. It also demonstrates how a banking model developed and scaled in an emerging market can deliver meaningful customer and business outcomes, contributing practical perspectives to the global conversation on the future of digital banking.

In September 2026, Cake was also named “Vietnam’s Best Digital Bank” by Euromoney under its Group Level Banking Awards, further recognizing the bank’s progress in strategy, technology, and business performance.

About the Qorus-Infosys Finacle Banking Innovation Awards

The Qorus-Infosys Finacle Banking Innovation Awards are jointly organized by Qorus, a global association for retail financial institutions, and Infosys Finacle, a digital banking solutions provider. Now in their 13th edition, the awards recognize innovative initiatives and banking models that deliver meaningful impact across the global financial services industry.

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SOURCE Cake Digital Bank

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KSAT and Morehead State University Partner to Expand Lunar Communications Infrastructure

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Partnership strengthens the KSAT Lunar Network and supports deep space and lunar exploration

DENVER and MOREHEAD, Ky., Oct. 31, 2026 /PRNewswire/ — Kongsberg Satellite Services (KSAT), a leading provider of ground station networks and satellite operations, today announced a strategic partnership with Morehead State University (MSU) to enhance the KSAT Lunar Network, supporting the growing demand for communications and tracking services for deep space and lunar missions.

The partnership leverages MSU Space Science Center’s established deep space communications capabilities, including its 21-meter and 12-meter-class antennas in Morehead, Kentucky, to further increase the KSAT Lunar Network. Together, the partnership enables mission operators to maintain reliable links with spacecraft operating beyond Earth orbit by adding network capacity and resiliency over the Eastern United States.

“Partnering with MSU advances KSAT’s ability to deliver the communications infrastructure required for the accelerated demand for deep space and lunar missions. We are especially thrilled about this partnership as it helps enable science and exploration space missions today, while developing the next-generation workforce to support the long-term development of the U.S. cislunar economy,” said Dan Adams, General Manager of KSAT Inc.

“This partnership reflects our commitment to supporting the future of space exploration through innovation, education, and collaboration,” said Dr. Benjamin K. Malphrus, Executive Director of Space Science Center. “Working with KSAT provides exciting opportunities for our students and researchers while enabling us to contribute directly to the thriving commercial sector.”

KSAT and MSU share a strong commitment and heritage of supporting NASA’s Artemis program, most recently the Artemis II mission, and the broader science and exploration, as well as inspiring the next generation. In addition to expanding KSAT Lunar capabilities, the partnership will create even more opportunities for student involvement and workforce development through KSAT’s internship programs, helping prepare the next generation of engineers and space professionals for careers in the rapidly growing space sector.

About KSAT:

Kongsberg Satellite Services (KSAT) is the leading commercial provider of Ground Station Services, Earth Observation Services, and Satellite Operations Services. Headquartered in Tromsø, Norway, the company operates the largest commercial satellite ground station network worldwide, including facilities in Svalbard and Antarctica to provide unique southern hemisphere coverage. Through KSAT Inc., KSAT’s U.S. based full-capability subsidiary, KSAT delivers mission-critical infrastructure for customers in government, civil, and commercial space in the United States, as well as the global space industry. 

About MSU:
Morehead State University (MSU) is a comprehensive, regional university located in Appalachian Kentucky in the Daniel Boone National Forest. MSU is known for excellence in STEM fields and pre-professional programs. The Space Science Center is MSU’s Program of Distinction and manages a significant research and development portfolio in small satellite systems, having executed 7 smallsat missions to date. The Center operates a 21-meter ground station and a 12-meter tracking antenna that provides lunar tracking services and smaller aperture ground stations for satellite telecommunications support. The Center also supports innovative undergraduate, graduate and a Doctor of Engineering program in Space Systems Engineering.

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