You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

DUBLIN--(BUSINESS WIRE)--The "Building Information Modeling Market (BIM) with COVID-19 Impact Analysis by Type (Software, Services), Application (Buildings, Civil Infrastructure, Industrial), End-User (AEC, Contractors and Facility Managers), Project Lifecycle, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The Global Building Information Modeling Market is projected to grow from USD 4.5 billion in 2020 to USD 8.8 billion by 2025, with a CAGR of 14.5%. Rising urbanization and infrastructure projects drive the overall growth of building information modeling market The building information modeling market is driven by various factors, such as rising urbanization and infrastructure projects, growing benefits offered by BIM for the AEC industry, and increasing government mandates for BIM adoption. However low digitization in the construction industry poses challenges to the BIM market. Services to witness the highest CAGR during the forecast period BIM services comprise services related to infrastructure modeling to architects, engineers, general contractors, and developers. In addition, BIM services include the provision of detailed engineering of a project, which helps in improving the quality of buildings, reducing their designing and maintaining costs, and sharing information more effectively among building owners, design teams, contractors, and facility managers. The service segment is expected to grow at the fastest rate as it includes the detailed engineering of a project, which helps in improving the quality of buildings, reducing their designing and maintaining costs, and sharing information more effectively among building owners, design teams, contractors, and facility managers. Based on applications, building is likely to be the fastest-growing application during 2020-2025 Due to rising trends in digitization across industries, BIM is gaining popularity in the construction industry. Building applications mainly includes commercial, residential, and retail buildings. Buildings are designed with the help of BIM mostly during the preconstruction phase, in which the 3D modeling of the structure is prepared and the flow of the entire building project is decided. These buildings are constructed mostly on a customized basis. BIM is widely used in building applications to reduce the cost overrun and time overrun, which may help in reducing the delays in the project. With the help of various tools such as 3D modeling and clash detection, it helps efficiently plan, design, construct, and manage buildings. APAC to record the highest growth rate in building information modeling market during the forecast period APAC is likely to be the highest growing market for building information modeling market in the coming years. The market in APAC is expected to grow at the fastest rate due to the use of BIM for large-scale infrastructure and building projects. Government initiatives are expected to act as a major factor driving the BIM market in APAC. Governments have started imposing new regulations regarding building construction permit. Japan, China, and South Korea have already made BIM documents mandatory, especially for public buildings, along with green certification-related documents. The building information modeling market comprises major players such Autodesk (US), Nemetschek (Germany), Bentley Systems (US), Trimble (US), Dassault Systemes (France), RIB (Germany), Asite (UK), AVEVA (UK), Hexagon (Sweden), and Archidata (Canada). The study includes an in-depth competitive analysis of these key players in the building information modeling market, with their company profiles, recent developments, and key market strategies. Key Topics Covered 1 Introduction 2 Research Methodology 3 Executive Summary 4 COVID-19 Impact on Building Information Modelling 4.1 Pre-COVID-19 Scenario 4.2 Post-COVID-19 Scenario 5 Premium Insights 5.1 Attractive Opportunities in BIM Market 5.2 BIM Market, by Project Life Cycle 5.3 BIM Market, by Application and Country 5.4 Country-wise BIM Market Growth Rate 6 Market Overview 6.1 Introduction 6.2 Market Dynamics 6.2.1 Drivers 6.2.1.1 Rapid Urbanization and Increase in Infrastructure Projects 6.2.1.2 Extensive Benefits Offered by BIM for AEC Industry 6.2.1.3 Strong Government Support by Making BIM Adoption Mandatory 6.2.2 Restraints 6.2.2.1 High Initial Cost of BIM 6.2.3 Opportunities 6.2.3.1 Growing Use of AR/VR Technologies and Surging Adoption of BIM to Design Green Buildings 6.2.3.2 Exciting Trend of Implementing IoT in Construction Projects 6.2.3.3 Increasing Trend of BIM 6.2.3.4 Growing Focus of Organizations to Introduce New Standards Such as ISO 19650 in BIM Market 6.2.4 Challenges 6.2.4.1 Low Level of Digitization in Construction Industry 7 Building Information Modeling Market, by Offering Type 7.1 Introduction 7.2 Software 7.3 Services 7.4 COVID-19 Impact on Building Information Modelling Market, by Type 8 Building Information Modeling Market, by Project Life Cycle 8.1 Introduction 8.2 Preconstruction 8.3 Construction 8.4 Operation 8.5 Impact of COVID-19 on Project Life Cycle of BIM 9 Building Information Modeling Market, by Application 9.1 Introduction 9.2 Buildings 9.3 Industrial 9.4 Civil Infrastructure 9.5 Oil & Gas 9.6 Utilities 9.7 Others 9.8 COVID-19 Impact on BIM Applications 10 Building Information Modeling Market, by End-user 10.1 Introduction 10.2 AEC Professionals 10.3 Consultants and Facility Managers 10.4 Others 10.5 COVID-19 Impact on BIM End-users 11 Geographic Analysis 11.1 Introduction 11.2 North America 11.3 Europe 11.4 APAC 11.5 RoW 11.6 Region-wise COVID-19 Impact 12 Competitive Landscape 12.1 Overview 12.2 Market Ranking Analysis 12.2.1 Product Launches 12.2.2 Agreements, Collaborations, Partnerships, and Contracts 12.2.3 Mergers and Acquisitions 12.2.4 Expansions 12.3 Competitive Leadership Mapping 12.3.1 Visionary Leaders 12.3.2 Innovators 12.3.3 Dynamic Differentiators 12.3.4 Emerging Players 13 Company Profiles 13.1 Introduction 13.2 Key Players 13.2.1 Autodesk 13.2.2 Nemetschek 13.2.3 Bentley Systems 13.2.4 Trimble 13.2.5 Dassault Systemes 13.2.6 Rib Software 13.2.7 Asite 13.2.8 Aveva 13.2.9 Hexagon 13.2.10 Archidata 13.3 Other Key Players 13.3.1 Acca Software 13.3.2 Arcadiasoft 13.3.3 Procore Technologies 13.3.4 Concora 13.3.5 Pyry 13.3.6 Beck Technology 13.3.7 Computers & Structures 13.3.8 Robert McNeel & Associates 13.3.9 4M Company 13.3.10 CCT International For more information about this report visit https://www.researchandmarkets.com/r/y6ycpu

Answer: Global Building Information Modeling (BIM) Market with COVID-19 Impact Analysis 2020-2025 - ResearchAndMarkets.com