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The Building Information Modelling Market size is estimated at USD 8.72 billion in 2024 and is expected to reach USD 16.72 billion by 2029, growing at a CAGR of 13.90% during the forecast period (2024-2029). With the introduction of computer software, planning, and modeling for architecture have undergone a paradigm shift in recent years. Improvements in digital design tools, computer-controlled fabrication, connectivity, and interconnectedness have opened up a new stage of the design and build process. Building information modeling has seen a lot of expenditures and developments.

In Malaysia, the construction sector experienced significant growth during the second quarter of 2023 due to the use of BIM technology. The Department of Statistics Malaysia reported a substantial year-on-year increase of 8.1% in the value of work done, amounting to RM32.4 billion with the integration of BIM Technology. BIM is rapidly becoming essential in construction projects, and deep engagement with this technology significantly boosts project ROI by over 50%, as per Dodge Data & Analytics findings. Evolve Business Intelligent predicts that the global BIM construction market will surge from $6.6 billion in 2022 to $13 billion by 2033, marking a growth rate of 14.5% from 2023 to 2033. The Asia Pacific region is also anticipated to witness the fastest growth, with a projected CAGR of 19.1% from 2023 to 2033. Government initiatives aimed at enhancing productivity through standardized workflows are identified as the primary catalyst for BIM adoption, mirroring trends observed in countries like the UK, Australia, and South Korea, where BIM usage is compulsory for public projects

No one can quite tell how BIM will develop in the coming years, but one thing is certain we should all be there to follow it. After all, if the goal is to design and develop the best possible buildings, BIM is just the tool you need. Join us at the 6th Annual BIM Summit to gather insights into the various methods and digital tools used to ensure the best and most effective implementation of BIM to help maximize your BIM strategies.

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