Building Information Modelling (BIM) Market 2018 Global Key Leaders by: Autodesk, 4M Building Solutions, Bentley Systems, Incorporated, GRAITEC, IES Ltd

Building Information Modelling (BIM) has found increasing applications in large infrastructure projects such as roads, railways, residential complexes and other construction projects. The rapid growth of the construction industry has directly impacted the demand for BIM technology. Market Research Future has performed an in-depth market study on the global BIM market and has revealed that the market is set to witness a progressive and above average CAGR of 14.9% during the forecast period of 2018 to 2023. In 2017, the market was valued to be above USD 3000 Mn, and by MRFRs projections, the global market is poised to exceed USD 8000 Mn.

Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/2044

BIM technology is increasingly being used to create a vector-based representation of construction projects in 3D formats. Building Information Modeling (BIM) is highly effective for use in project planning & decision making support, management support, and information sharing among other applications. The BIM solutions offer cost-effective management of construction projects with optimized for time and reduced waste which is often associated with large construction projects. These benefits have been key in contributing to the growth of the global market. Moreover, governments across the globe are highly encouraging of the use of BIM in all construction projects. The deployment of various supportive initiatives and BIM implementation strategies are expected to increase the adoption of BIM in the AEC industry. For instance, in 2015, the UK government mandated the use of level two BIM for all constructions projects from 2016.

Although the technology is efficient in terms of cost and time-management in a construction project, the initial investment for the same is high. Moreover, the use of this technology is still in its nascent stages, and a lack of skilled professionals has been recognized as a market challenge. However, the increasing demand for green building in a global environmentally conscious environment is expected to boost the demand for BIM. Additionally, the need to improve integration, efficiency combined with the emergence of cloud computing and IoT is expected to lead to numerous expansion opportunities for the market. The increased efficiency that cloud computing represents is being adopted in the BIM market with players collaborating with cloud storage systems for easier data management.

Market Segmentation
MRFR's report provides a comprehensive analysis of the BIM markets various segments which have been determined based on factors which include product, project lifecycle, end-user, industry, and region. By product, the market is segmented into BIM software, BIM training services, and BIM project management. The market study reflects that BIM software is the largest segment and is expected to witness the highest CAGR of 16.2% during the assessment period. Rapid commercialization and industrialization of the real estate sector have resulted in an increased demand for implementation of BIM software. Moreover, the use of cloud computing is expected to augment this segments growth. By project lifecycle, the market is segmented into pre-construction, construction, and operation.

Construction, which is the second largest segment is projected to grow at the highest CAGR due to the demand for BIM solutions for data management, resource optimization, and time efficiency during ongoing construction projects. By end-user, the market is segmented into government, engineers, and architects. Engineers constitute the largest segment and a recorded value of USD 1347.6 mn in 2017. By industry, the market is segmented into residential, commercial, healthcare, entertainment, sports, industrial, oil & gas industries, and others. The commercial segment accounts for the leading segment with the fastest market growth at the highest CAGR during the assessment period. The high demand for green buildings is key in the segments leading position. Global analysis of the BIM divides the market into North America, Europe, Asia-Pacific, and the Rest of the World.

Browse Full PR Details @ https://www.marketresearchfuture.com/press-release/global-building-information-modelling-market

Regional Analysis
The Asia-Pacific (APAC) is experiencing rapid market growth owing to the wide scope of smart city initiatives which have been taken on in emerging economies such as India, China, and others. Global market players recognize the potential for opportunities that the region offers and in order to leverage the same have invested heavily in strengthening their market positions. For instance, Dassault Systems has a considerable presence in the Asia Pacific and the Middle East due to the growing demand for BIM solutions.

Additionally, The presence of consultants and service providers in the region which offer training and installation services is expected to provide the market with traction that portrays a highly optimistic future for emerging regions. Meanwhile, North America leads market growth and valued USD 1357.6 Mn in 2017. Robust demand for commercial and residential construction is expected to facilitate growth for the region. Moreover, the region has a high affinity for the adoption of technological advancements which have been key in catapulting the regional market to a leadership
position.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/building-information-modelling-market-2044

Key Players
MRFR extensively covers the competitive landscape to offer relevant insights into market strategies employed by leading players. Prominent market players include Hexagon AB, Autodesk Inc., Aveva Group Plc, Bentley Systems, and Dassault Systemes to name a few.

Table of Contents
1. Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure:
1.3.1 Global Building Information Modelling Market: By Product
1.3.2 Global Building Information Modelling Market: By End User
1.3.3 Global Building Information Modelling Market: By Industry
1.3.5 Global Building Information Modelling Market: By Region
Continued…

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.