Building Information Modeling Solutions Market to Expand Due to Increased Use of Automated Models in AEC Sector, Highlights TMR

Transparency Market Research delivers key insights on the global building information modeling (BIM) solutions market. In terms of revenue, the global building information modeling (BIM) solutions market is estimated to expand at a CAGR of ~15% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global building information modeling (BIM) solutions market.

Building information modeling (BIM) is a 3D visual presentation of a technical drawing, which includes plan, elevation, and section of a building. It is a kind of digital fabrication system in which the actual model of the building with accurate value is digitally constructed. Apart from 3D visualization, BIM also covers 4D and 5D, which comprise time and cost plans, respectively.

Besides, building information modeling (BIM) is being widely adopted across the world due to technical advancements in the field of architecture, engineering, and construction (AEC), and the demand for dedicated designing software has increased greatly. As a result, the market is anticipated to witness healthy growth rate during the forecast period.

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Building Information Modeling (BIM) Solutions Market: Dynamics

Government initiatives to boost BIM adoption rate: As per the McGraw Hill Construction Report 2018 on business information modeling, approximately 90% of project owners in Germany always or either often demand the usage of BIM software. Meanwhile, 78% of contractors engaged in AEC are using BIM software in South Korea. The development of BIM signals the presence of new possibilities for the construction industry. The adoption of BIM has risen across the globe over the past few years. Few instances of governments supporting the use of BIM in architecture and construction are highlighted below:

80% of designers and architects in the Netherlands are identified to use BIM software for both non-residential and residential projects, showcasing one of the highest adoption rates across the globe. The U.K. is recognized as one of the leading nations in the world promoting the adoption of BIM in the AEC industry. According to the Ministry of Statistics and Programme Implementation in India, approximately 355 projects foresee cost overrun and 552 projects face escalation of time. Implementation of BIM could have saved up to around 20% of the project cost by reducing the construction time. In 2014, the Singapore Government mandated the use of BIM for projects of over 5,000 square feet area

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Building Information Modeling (BIM) Solutions Market: Prominent Regions

North America is projected to hold a strong position in the global building information modeling (BIM) solutions market during the forecast period, due to technological advancements and significant adoption of the BIM technology with the latest trends in technology in the architecture, engineering and construction (AEC) industry in the region. The adoption of BIM solutions have increased considerably in the past few years. Furthermore, growth of the construction industry and increase in awareness about the benefits of BIM tools with its launch in early 2000 are expected to support the market growth in the region. The U.S construction industry has standardized construction standards by using building information modeling (BIM) in order to improve return on investment (ROI) both for contractors and engineers. Additionally, the U.S. Government has mandated the use of the BIM technology for government construction projects in the country.

However, the building information modeling (BIM) solutions market in Asia Pacific is estimated to expand at a robust pace during the forecast period. The market in Asia Pacific is predominantly driven by extensive government policies and investment in smart cities projects. The building information modeling solutions market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to growing architecture, engineering, and construction industry in China, Japan, India, Australia, and ASEAN.

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Additionally, the adoption level of BIM for large construction projects in China is extremely high. Initiatives have been taken by the government to enhance the implementation of BIM for small and medium construction organizations. This, in turn, is likely to trigger the growth of the building information modeling solutions market. Furthermore, initiatives are being taken to boost BIM deployment in member countries of the Association of Southeast Asian Nations (ASEAN) (Cambodia, Malaysia, Laos, Philippines, Singapore, Thailand, Vietnam, Myanmar, and Brunei Darussalam). For instance, Singapore’s Building Construction Authority (BCA) made it mandatory for all new construction to include BIM technologies. This, in turn, is likely to offer significant opportunities to the building information modeling (BIM) solutions market.

Building Information Modeling (BIM) Solutions Market: Key Players

Key players operating in the global building information modeling (BIM) solutions market are Dassault Systèmes SA, Autodeck Inc, Bentley Systems Inc., Trimble, Inc., Microsoft Corporation, Nemetschek Group, AVEVA Group plc, FARO Technologies, Inc., Tekla Corporation, ClearEdge3D, Inc., DC Engineering, Geo-Plus, Innovaya, RIB Software SE, Safe Software, Inc., SierraSoft, and Vectorworks, Inc.

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