In 2023, the average construction cost in Shanghai amounted to ***** yuan per square meter which was the highest in the country. The average cost in China was ***** yuan per square meter.

Housing Index in China decreased by 2.80 percent in July from -3.20 percent in June of 2025. This dataset provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China Property Price: YTD Avg: Commercial Bldg: House in Advance: Overall data was reported at 9,966.035 RMB/sq m in Mar 2025. This records a decrease from the previous number of 10,188.346 RMB/sq m for Feb 2025. China Property Price: YTD Avg: Commercial Bldg: House in Advance: Overall data is updated monthly, averaging 10,605.445 RMB/sq m from Jan 2006 (Median) to Mar 2025, with 230 observations. The data reached an all-time high of 12,471.624 RMB/sq m in Feb 2014 and a record low of 6,341.000 RMB/sq m in Dec 2006. China Property Price: YTD Avg: Commercial Bldg: House in Advance: Overall data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Commercial Building: Monthly.

In 2024, the expanse of newly started real estate construction in China amounted to less than *********** square meters. This was again a significant decline of more than ** percent from the previous year, despite the initial expectation of recovery after the end of COVID-19 control measures. The construction boom The housing market reforms initiated in 1998 unleashed a two-decade-long golden era for China's real estate and construction sectors. With the dramatic rise in home prices and nationwide urban renewal projects, a significant number of residential properties, mainly consisting of high-rise complexes, were erected across China for sale to its growing middle-class population. By 2013, the annual expanse of newly started construction projects exceeded *****illion square meters. Despite a decline in the years that followed, with the government's stimulus policies, constructions reached an all-time high of ********************* square meters by 2019, before the start of the COVID-19 pandemic. Increased risks in the real estate sector The continuous expansion of the real estate industry has resulted in a substantial oversupply in the market. This is particularly noticeable in smaller cities and towns in the provinces. Many property developers, including giants such as Evergrande and Country Garden, found themselves in financial hardship owing to the large number of unsaleable or vacant homes they had built. This has resulted in more than *********** unfinished homes across China, exposing homebuyers and their banks to significant financial risks. Moreover, due to the slowdown of China's economy, the outstanding mortgages accumulated over the last two decades will also become a long-term concern for the country's financial institutions and industries.

China Property Price: YTD Avg: Office: Existing House: Overall data was reported at 13,035.449 RMB/sq m in Mar 2025. This records a decrease from the previous number of 13,565.698 RMB/sq m for Feb 2025. China Property Price: YTD Avg: Office: Existing House: Overall data is updated monthly, averaging 12,836.007 RMB/sq m from Jan 2006 (Median) to Mar 2025, with 230 observations. The data reached an all-time high of 21,499.250 RMB/sq m in Feb 2020 and a record low of 6,260.000 RMB/sq m in Dec 2006. China Property Price: YTD Avg: Office: Existing House: Overall data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Office Building: Monthly.

In 2024, the total floor space of newly started residential housing construction in China dropped below *********** square meters. This marked the fifth consecutive year of decline since the figure peaked in 2019. Two decades of prosperity in China’s real estate sector China's housing market enjoyed more than two decades of prosperity since the country liberalized its real estate sector in the late 1990s. In tandem with China's urbanization and economic success, demand for better housing grew consistently, leading to significant price rises for real estate across all regions. As a result, the real estate and construction sectors have both become pillar industries of the country. Through the sale of land use permits to real estate enterprises, local governments also generated substantial non-tax income, allowing them to fund vital infrastructure development projects and investments. Is the real estate market in China unsustainable? In the last two decades, almost all major real estate companies in China achieved their market dominance by selling off-plan properties and reinvesting their revenues in further development projects. This model has gradually become unsustainable as the real estate industry slowed its pace of growth, leading to financial turmoil for companies, including giants such as Evergrande and Country Garden. Complicating matters, the large number of unfinished projects that have already been sold has pushed many homebuyers into bankruptcy.

China Construction & Home Furniture Metal Product: YoY: Cost of Sales: Year to Date data was reported at 6.338 % in Oct 2015. This records a decrease from the previous number of 7.205 % for Sep 2015. China Construction & Home Furniture Metal Product: YoY: Cost of Sales: Year to Date data is updated monthly, averaging 16.180 % from Jan 2006 (Median) to Oct 2015, with 89 observations. The data reached an all-time high of 37.700 % in Feb 2007 and a record low of -12.700 % in May 2009. China Construction & Home Furniture Metal Product: YoY: Cost of Sales: Year to Date data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BHV: Construction and Safety Use Metal Product: Construction and Home Furniture Metal Product.

In 2022, the price for new residential property in Shanghai's inner ring dropped by more than ***** yuan per square meter, to ******* yuan per square meter. Although the local authorities introduced policies to stabilize the market, the real estate market in Shanghai’s central districts remained under downward pressure, similar to those experienced by other major cities in China. The most competitive real estate market in the country Home prices in Shanghai are among the most expensive globally. The area within the city's inner ring road is certainly one of the most competitive real estate markets in all of China, with property prices nearly *********** higher than those outside the outer ring road. Rising prices are far beyond the reach of ordinary residents, and the few who can afford to buy often have to take out substantial mortgages for their homes, resulting in a high proportion of real estate in their personal assets. Challenges facing China’s real estate sector The high level of indebtedness of the Chinese people and the bubbles in the country's real estate sector have become one of the major risks to China's economy. While developers expanded through continuous borrowing and the sale of off-plan properties to homebuyers, the market saw a significant excess of housing supply in most regions. There have also been instances in recent years where developers have had difficulties in completing construction projects or in repaying their loans or bonds. Addressing the risks in China's real estate sector, particularly in companies such as the Evergrande Group and Country Garden, has become an urgent task to ensure China's economic stability and prosperity.

China Construction & Home Furniture Metal Product: Profit to Cost Ratio data was reported at 5.340 % in Oct 2015. This records an increase from the previous number of 5.212 % for Sep 2015. China Construction & Home Furniture Metal Product: Profit to Cost Ratio data is updated monthly, averaging 4.232 % from Dec 2006 (Median) to Oct 2015, with 83 observations. The data reached an all-time high of 6.497 % in Dec 2010 and a record low of 2.201 % in May 2009. China Construction & Home Furniture Metal Product: Profit to Cost Ratio data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BHV: Construction and Safety Use Metal Product: Construction and Home Furniture Metal Product.

Over the five years through 2023, revenue for the Building Construction industry is expected to have been growing at an average annualized 4.4%, to $3.0 trillion. This includes an anticipated increase of 4.7% in 2023. There are approximately 36,700 construction firms in this industry. Most major players also have operations in civil engineering, real estate development, professional engineering services, plan designing, building materials manufacturing and construction equipment manufacturing. By operating across different sectors, firms can minimize their costs and maintain stable supply sources.Larger general contractors are relatively stable and less vulnerable to external influences due to their broad business scope and established relationships with real estate developers, local government and material supply sources.In 2023, the average profit level for the industry is estimated at 4.6% of industry revenue, although some large firms can earn a profit of 8.0% or more. The industry is generally profitable as the government controls many construction enterprises – particularly large-scale organizations – and provides them with preferable policies.The industry is highly influenced by China's real estate industry. Rapidly increasing housing prices in major cities have resulted in the State Council and first-tier cities issuing a series of measures to curb speculative housing demand and prevent excessive price growth. These policies caused declines in sales volume and average prices of commercial residential buildings and have discouraged real estate investment and new house starts. However, an rise in the number of government-mandated indemnificatory houses is lifting demand for building construction services and offsetting the slowed growth in the commercial residential buildings market. As a result, ACMR-IBISWorld projects that in the five years through 2028, industry revenue is forecast to continue growing at an average annualized 3.8%, to reach $3.6 trillion.

In 2023, approximately ************ new residential properties were built in China, representing a growth of less than *** percent from the previous year. A pillar industry Since the 1998 housing reform, the number of new builds kept growing for more than a decade, before reaching a peak of ************ in 2012. Since then, the annual number of new apartments remained generally stable, until the gradual decline in recent years. The Chinese economy is now highly dependent on the real estate industry, with the sector contributing almost ************ yuan to the country’s gross domestic product (GDP) in 2022. Downward pressure   With the sector reaching a peak, and the mounting pressure over the unaffordable housing market in the country, the long-term healthy development of the Chinese economy is potentially at risk. Until 2021, China's personal housing loans had been growing at a double-digit rate every year, approaching *********** yuan by 2022. High levels of indebtedness in the sector entail significant financial risks when the overall economic situation weakens, and property prices decline. The consequences are potentially damaging, both for major real estate enterprises such as Country Garden and for China's banking institutions.

In 2024, real estate developers in China completed ****** million square meters of floor space, representing a significant drop of almost ** percent from the previous year. Housing completion figures in China have generally decreased over the last decade, owing to structural challenges in the real estate industry. The ups and downs of the Chinese real estate market Following the marketization of the housing sector in the late *****, China's real estate industry has enjoyed more than two decades of prosperity. The output value of the sector multiplied several times, with home prices rising sharply across the country and some properties in urban centers such as Beijing and Shanghai being among the most expensive in the world. While being a pillar industry in the country’s economy, the real estate sector has also stimulated the development of many related industries, such as construction and financial services. The property bubble and unfinished buildings The former expansion of the housing market had created a considerable bubble in the sector, which finally burst during the COVID-19 pandemic. Many apartments, especially the tower blocks in small or medium-sized cities and towns remained unsold or left unoccupied, leading to financial turmoil for real estate developers. The failure of major market players such as China Evergrande and Country Garden resulted in more than a million unfinished apartments in China.

The Asia Pacific manufactured homes market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 8.70% from 2025 to 2033. This expansion is fueled by several key drivers. Increasing urbanization in major economies like China, India, and Japan is creating a significant demand for affordable and quickly deployable housing solutions. Manufactured homes offer a compelling alternative to traditional construction, providing cost-effectiveness and faster construction timelines. Furthermore, government initiatives promoting affordable housing and sustainable building practices in several Asia-Pacific nations are bolstering market growth. The rising popularity of modular and prefabricated construction methods, alongside technological advancements in design and materials, is also contributing to market expansion. Segmentation within the market reveals strong demand for both single-family and multi-family manufactured homes, catering to diverse housing needs across the region. Key players like Daiwa House Industry, Sekisui House, and Panasonic Homes are driving innovation and competition, further stimulating market growth. However, challenges remain, including regulatory hurdles related to building codes and land availability in certain regions. Despite these challenges, the long-term outlook for the Asia Pacific manufactured homes market remains positive. The market's resilience stems from its ability to address pressing housing needs in a cost-effective and sustainable manner. Continued urbanization, supportive government policies, and technological advancements will continue to drive demand. The increasing adoption of sustainable building materials and eco-friendly construction methods will further enhance the appeal of manufactured homes, positioning the market for sustained expansion throughout the forecast period. The diverse range of companies operating within the market, encompassing both established players and emerging modular construction firms, indicates a dynamic and competitive landscape poised for significant growth. The market’s expansion is expected to be particularly strong in high-growth economies with large populations and evolving housing demands. Recent developments include: June 2022: Daiwa Lifenext Co. Ltd. (Headquarters: Minato-ku, Tokyo, President: Junko Ishizaki) of the Daiwa House Group is working to realize evacuation at home in an apartment that is effective in avoiding damages in case of a natural disaster caused by the corona disaster., January 2022: Japanese-backed modular firm gets £12m (USD 14.6 million) investment. Sekisui House UK, a subsidiary of the Japan-based Sekisui, received the capital injection from its owner. Sekisui formally entered the UK market in 2019 when it invested £22m (USD 26.9 million) for a 35 percent stake in a joint venture with Homes England and developer Urban Splash.. Notable trends are: Investment to Support the Growth and Innovation in the Housing Sector in Australia.

Property Price: YTD Avg: Com Bldg: Existing House: Henan data was reported at 6,750.070 RMB/sq m in Dec 2019. This records an increase from the previous number of 6,709.608 RMB/sq m for Nov 2019. Property Price: YTD Avg: Com Bldg: Existing House: Henan data is updated monthly, averaging 5,745.359 RMB/sq m from Jan 2006 (Median) to Dec 2019, with 165 observations. The data reached an all-time high of 8,297.896 RMB/sq m in Feb 2019 and a record low of 2,518.000 RMB/sq m in Mar 2006. Property Price: YTD Avg: Com Bldg: Existing House: Henan data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Commercial Building: Monthly.

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Tiny Homes Market Size 2025-2029

The tiny homes market size is valued to increase USD 3.71 billion, at a CAGR of 4.2% from 2024 to 2029. Affordable by mass section of population will drive the tiny homes market.

Major Market Trends & Insights

North America dominated the market and accounted for a 55% growth during the forecast period.
By Product - Mobile tiny homes segment was valued at USD 9.64 billion in 2023
By Application - Home use segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 37.94 million
Market Future Opportunities: USD 3713.10 million
CAGR : 4.2%
North America: Largest market in 2023

Market Summary

The market represents a burgeoning sector in the residential real estate industry, characterized by its focus on compact, affordable living solutions. This market encompasses a range of core technologies and applications, from innovative building materials and modular construction methods to renewable energy systems and smart home automation. Service types and product categories include design and construction services, as well as the sale of prefabricated tiny homes and accessories. Despite regulatory challenges in some regions, the market continues to expand, driven by the growing trend of customization and the affordable nature of tiny homes, making them an attractive option for a mass section of the population. However, limited demand from developing economies presents a significant challenge. In the United States, for instance, the American Tiny House Association reports that the number of tiny homes registered with the organization has grown by over 50% since 2019. This underscores the evolving nature of the market and the opportunities it presents for businesses and consumers alike.

What will be the Size of the Tiny Homes Market during the forecast period?

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How is the Tiny Homes Market Segmented and what are the key trends of market segmentation?

The tiny homes industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductMobile tiny homesStationary tiny homesApplicationHome useCommercial useAreaLess Than 130 Sq. Ft.130-500 Sq. Ft.More Than 500 Sq. Ft.Less Than 130 Sq. Ft.130-500 Sq. Ft.More Than 500 Sq. Ft.Price RangeBudgetMid-rangePremiumMaterialWoodMetalRecycledGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalySpainUKMiddle East and AfricaUAEAPACChinaIndiaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW)

By Product Insights

The mobile tiny homes segment is estimated to witness significant growth during the forecast period.

The market has experienced significant expansion in recent years, with mobile tiny homes, characterized by permanently affixed chassis, witnessing substantial growth. These homes are manufactured in factories and transported to their intended sites via wheels or trucks. The affordability of mobile tiny homes makes them a popular solution in the affordable housing sector in various countries. The increasing cost of conventional houses in numerous nations is driving the demand for these compact living solutions. Young adults and retirees, seeking to save on housing expenses, are the primary consumer groups fueling the market's growth. According to recent data, the adoption of tiny homes has risen by approximately 18%, and it is projected to expand further, reaching around 25% in the upcoming five years. In terms of market trends, green building practices and energy-efficient appliances are gaining traction. Interior finishing materials, such as reclaimed wood and recycled materials, are increasingly popular. Water conservation methods, like rainwater harvesting and greywater recycling, are being integrated into tiny home designs. Site preparation techniques, like minimal excavation and foundation system designs, are being optimized for efficient construction. Structural engineering designs focus on maximizing space through innovative layouts and smart home integration. Prefabricated housing and alternative building methods, like modular construction, are streamlining the construction process. Plumbing system installations and wastewater treatment systems are being designed for off-grid living. Insulation techniques, transportation logistics, permitting and approvals, and building code compliance are all crucial aspects of the market. The durability and longevity of tiny homes are essential considerations, with sustainable building materials and hvac system optimization being key factors. Cost estimation models, downsizing and minimalism, and mobile home foundations are also significant market trends. Electrical system designs prioritize fire s

Property Price: YTD Avg: Office: House in Advance: Hunan data was reported at 11,541.009 RMB/sq m in Dec 2019. This records a decrease from the previous number of 11,571.018 RMB/sq m for Nov 2019. Property Price: YTD Avg: Office: House in Advance: Hunan data is updated monthly, averaging 8,504.368 RMB/sq m from Jan 2006 (Median) to Dec 2019, with 167 observations. The data reached an all-time high of 13,421.725 RMB/sq m in Feb 2013 and a record low of 2,889.000 RMB/sq m in Apr 2006. Property Price: YTD Avg: Office: House in Advance: Hunan data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Office Building: Monthly.

China needs to guide property developers in actively reducing emissions to reach carbon emission reduction targets and respond to global climate change. A carbon tax is an important policy tool. Still, to establish successful rules to steer property developers’ reasonable carbon emission reduction behavior, we must first explore property developers’ decision-making mechanisms. This study develops an emission reduction and price game model for property developers under the constraint of a carbon tax. It then applies reverse order induction and optimization methods to identify the game equilibrium solution for property developers. Using the game equilibria, we explore the carbon tax mechanism on emission reduction and property developer pricing strategies. We can derive the following conclusions if the carbon tax policy is not implemented: 1.House prices are related to the substitutability of the two types of competitive property developers. 2.The greater the substitutability, the greater the cost of emission reduction paid by consumers. 3.The game equilibrium carbon emission intensity is the average carbon emission intensity of the housing business. In the situation of enacting a carbon tax, we arrive at the following conclusions: 1.The profits of real estate developers who do not have the advantage of emission reduction continue to decline with the increase of carbon tax. 2. For real estate developers who have the advantage of decreasing emissions, profits declined initially and then increased as the carbon tax rate increased, and only when the carbon tax rate reaches Tm1* can they fully leverage the cost advantage and obtain ever-increasing profits. 3.Low tax rates should be adopted by the government at the start of the implementation of the carbon tax policy to provide a buffer time for real estate developers who do not have the advantage of emission reduction costs.

Property Price: YTD Avg: Office: Existing House: Xinjiang data was reported at 7,304.945 RMB/sq m in Dec 2019. This records a decrease from the previous number of 7,408.992 RMB/sq m for Nov 2019. Property Price: YTD Avg: Office: Existing House: Xinjiang data is updated monthly, averaging 6,082.626 RMB/sq m from Jan 2006 (Median) to Dec 2019, with 166 observations. The data reached an all-time high of 35,864.407 RMB/sq m in Feb 2013 and a record low of 2,500.000 RMB/sq m in Mar 2008. Property Price: YTD Avg: Office: Existing House: Xinjiang data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Office Building: Monthly.

The ultra-thin stone honeycomb panel market is experiencing robust growth, driven by increasing demand for lightweight, high-strength, and aesthetically pleasing building materials in both residential and commercial construction. The market, valued at approximately $2 billion in 2025, is projected to witness a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the architectural and design communities are embracing ultra-thin stone honeycomb panels for their versatility, allowing for creative exterior and interior designs. Secondly, their lightweight nature reduces structural loads, lowering construction costs and simplifying installation. Thirdly, the panels offer superior durability and weather resistance compared to traditional materials, contributing to longer lifespans and reduced maintenance requirements. Finally, the rising focus on sustainable construction practices further enhances the appeal of these panels, as they often utilize recycled materials and contribute to energy efficiency. Several market segments are contributing to this growth trajectory. The "Thickness Less Than 10mm" segment is currently leading, driven by its superior flexibility and aesthetic appeal. However, the "Thickness Less Than 15mm" segment is experiencing rapid growth due to cost-effectiveness and wider applications. The application segments, "Building Exterior Decoration" and "Home Decoration", are both major contributors, with the former experiencing slightly higher growth given the large-scale projects involved. While the market faces some challenges, such as the relatively higher initial cost compared to conventional materials and the need for specialized installation techniques, the overall positive market outlook suggests a continued expansion in the coming years, with significant opportunities for manufacturers and installers alike. The increasing number of key players like TerraCORE, Trimstone, and HyCOMB Panels, along with regional expansions, particularly in the Asia Pacific region (China and India being major drivers), contribute to the market's dynamism. Comprehensive Report: Ultra-Thin Stone Honeycomb Panel Market Analysis & Forecast This in-depth report provides a comprehensive analysis of the global ultra-thin stone honeycomb panel market, offering invaluable insights for businesses operating within this rapidly expanding sector. We project a market exceeding $2 billion by 2028, driven by innovative applications and strong growth in construction and design. This report utilizes rigorous data analysis and market intelligence to provide actionable strategies for maximizing market penetration. Key search terms such as "ultra-thin stone panels," "honeycomb panels construction," "lightweight cladding," and "composite panels market" are integrated throughout for optimal search engine optimization.

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Building Information Modeling Market Size 2024-2028

The building information modeling market size is valued to increase USD 8.06 billion, at a CAGR of 18.51% from 2023 to 2028. Rise in work-from-home model will drive the building information modeling market.

Major Market Trends & Insights

North America dominated the market and accounted for a 36% growth during the forecast period.
By Type - Software segment was valued at USD 3.57 billion in 2022
By Deployment Mode - On-Premise segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 248.38 million
Market Future Opportunities: USD 8064.10 million
CAGR : 18.51%
North America: Largest market in 2022

Market Summary

The Building Information Modeling (BIM) Market is a dynamic and evolving sector, driven by the increasing adoption of digital technologies in the construction industry. With the rise in work-from-home models and remote collaboration, BIM has gained significant traction as a core technology for designing, constructing, and managing buildings and infrastructure projects. Despite this, the construction industry as a whole remains under-digitized, presenting a major growth opportunity for BIM. According to recent reports, the global BIM market share in the construction industry is estimated to reach 40% by 2025, up from 25% in 2020. Key drivers include the need for improved project efficiency, enhanced collaboration, and reduced costs.
Challenges, however, include the high upfront investment required for BIM implementation and the need for standardized processes and data formats. Regulations, such as the US Building Information Modeling Standard (BIMs) and the European BIM mandate, are also pushing the adoption of BIM in various regions. In particular, Asia Pacific and North America are expected to lead the growth in the BIM market due to their large and rapidly urbanizing populations and significant infrastructure projects.

What will be the Size of the Building Information Modeling Market during the forecast period?

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How is the Building Information Modeling Market Segmented and what are the key trends of market segmentation?

The building information modeling industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Software
  Services


Deployment Mode

  On-Premise
  Cloud-Based


Project Lifecycle

  Pre-Construction (Planning & Design)
  Construction (Execution)
  Operation & Maintenance


Building Type

  Residential Buildings
  Commercial Buildings
  Industrial Buildings
  Infrastructure (Roads, Bridges, Utilities)


End-User

  Architects
  Engineers
  Contractors
  Owners/Operators
  Consultants


Application

  Architectural Design
  Structural Design
  MEP (Mechanical, Electrical, Plumbing) Design
  Construction Management
  Facilities Management
  Energy Analysis
  Cost Estimation & Quantity Take-off
  Collaboration & Communication


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Type Insights

The software segment is estimated to witness significant growth during the forecast period.

Building Information Modeling (BIM) software is a 3D design tool utilized in architecture, construction, plant, and civil engineering sectors. BIM models represent a project's entire lifecycle, from inception to completion, fostering efficiency, cost savings, and reduced environmental impact. BIM facilitates this through various capabilities: 1. Seamless information transfer from construction to handover by digitizing the construction site 2. Effective management of piping, structure, and process design and construction 3. Enhanced workflow predictability, productivity, and profitability 4. Improved design quality and collaboration for successful project delivery The global BIM market is experiencing significant expansion due to the escalating demand for energy-efficient and cost-effective buildings.

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The Software segment was valued at USD 3.57 billion in 2018 and showed a gradual increase during the forecast period.

Approximately 40% of new construction projects currently employ BIM, and this number is projected to reach 77% by 2022. Furthermore, 5D BIM, which integrates time and cost dimensions, is expected to capture a 30% market share by 2025. BIM's potential applications extend beyond design and construction, encompassing: 1. 3D modeling for clash detection