Building information modeling (BIM) is widely recognized as a critical approach for enhancing efficiency and integration in project delivery. However, existing studies on BIM benefits and value remain fragmented, conceptually inconsistent, and predominantly focused on short-term, project-level outcomes. There is limited synthesis of how BIM value has been conceptualized and measured. This study adopts a semisystematic literature review to reconceptualize BIM value and examine prevailing approaches to its measurement. Drawing on 105 peer-reviewed articles, six dimensions of BIM value are identified: technology, coordination, business, organization, sustainability, and synergy. The analysis reveals a strong dominance of technical and managerial perspectives, with BIM value largely operationalized through short-term and quantifiable benefits. In contrast, long-term BIM value remain underexplored. Moreover, existing measurement approaches rely heavily on questionnaires and cost–benefit analyses, which are limited in capturing dynamic and long-term value creation processes. This study advances BIM research by providing an integrated conceptualization of BIM value and offering a theoretical foundation for value evaluation in practice.