Building Information Modelling Market - Trends, and Forecast 2016 - 2024

The vast rise in infrastructure development activities across India, Australia, and New Zealand in the past few years has been complemented with an increased focus on the usage of digital tools for the proper estimation of cost and time required for project completion.

As the overall focus on cost and time values continues to rise in the highly competitive construction industry, traditional 3D visualization tools such as AutoCAD, 3DMax, and CATIA are being increasingly replaced by building information modelling (BIM) solutions.

Building information modelling (BIM) is a 3D visual presentation of a technical drawing that includes the plan, elevation, and section of a building. It is a kind of digital fabrication system in which the actual model of the building is digitally constructed with accurate values.

Request A Sample Of This Report:-
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17129

Apart from 3D visualization, BIM also covers 4D and 5D, which comprise the time and cost plans of a construction project.

According to Transparency Market Research, the Australia, New Zealand, and India building information modelling (BIM) market was worth US$214.0 mn in 2015 and is expected to reach US$1,335.3 mn by 2024, expanding at a remarkable CAGR of 22.3% from 2016 to 2024.

Architects, contractors and engineers are some of the prominent end users of BIM solution in India, New Zealand, and Australia. Across all three, the segment of architects is the key consumer of these solutions, accounting for over 40% of these markets in 2015.

Over the forecast period as well, the segment is projected to continue to have a strong influence on the overall development of the BIM market and exhibit growth at a remarkable pace across these countries.

However, the usage of BIM solutions across the contractor segment is expected to exhibit growth at a faster pace than the architects segment across these countries over the forecast period.

In India, the segment is expected to expand at a 26.6% CAGR, in Australia it will exhibit a 25% CAGR and in New Zealand, it will exhibit a slightly lesser 21% CAGR as compared to the architect sector.

About TMR

TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com

This release was published on openPR.