openPR Logo
Press release

Australia, New Zealand, and India Building Information Modeling (BIM) Market: India to Surge at 23.9% CAGR 2016–2024

05-12-2017 03:40 PM CET | IT, New Media & Software

Press release from: TMR

Australia, New Zealand, and India Building Information

The Australia, New Zealand, and India building information modelling (BIM) market features a low degree of competition owing to a low number of players, observes Transparency Market Research in a recent report. The market features a mix of large as well as mid-level companies, but regional players dominate, accounting for nearly 60% of the overall market. Some of the notable international firms operating in the market, such as Dassault Systèmes SA, Autodesk Inc., Bentley Systems, Inc., and Tekla Corporation, collectively accounted for a nearly 42% of the market in 2015.

Leading players are currently focusing on providing cloud-based building information modelling (BIM) solutions. The rapidly rising demand for cloud-based software products is owing to their advantages such as instantaneous connection to multiple infrastructure development sites, management of information in real-time across the flow of supply chain, and efficient demand planning. Moreover, the companies are entering into strategic collaborations with real estate builders and firms to promote the benefits of BIM and henceforth increase its adoption level.

Obtain Report Details @
http://www.transparencymarketresearch.com/australia-new-zealand-india-building-information-modelling-market.html

Cloud-based BIM Solutions to See Significant Rise in Adoption

On the basis of solutions, the market is segmented into software, and professional and consultancy services. The software segment is further divided into on-premise and cloud based building information modelling (BIM). In 2015, the on-premise building information modelling segment accounted for maximum share of around 87% of the revenue of the overall building information modelling (BIM) software.

However, cloud-based building information modelling software is expected to show sustainable growth during the forecast period due to technological advancements and cost effectiveness as compared to on-premise BIM software solutions. In terms of geography, India accounted for around 42.6% of the Australia, New Zealand, and India building information modelling market’s revenue in 2015. The country is expected to remain the dominant consumer of building information modelling solutions over the forecast period as well, exhibiting an exponential 24% CAGR over the period between 2016 and 2024.

Government Initiatives Aimed at Lifting BIM Adoption Rate to Remain Key to Market Growth

The continuous growth in BIM market during the forecasted period can be largely attributed to the strong government initiatives to lift BIM adoption rate and rise in construction activities across all the end-use industries in these regions. In Australia, for instance, the Australian Federal Government’s Infrastructure, Transport and Cities Parliamentary Committee suggested in March 2016 that the use of BIM should be made compulsory for all government funded infrastructure development projects valuing over $50 mn. In New Zealand, the government formed the BIM Acceleration Committee in 2014 to encourage the adoption of BIM through alliances between the government and various stakeholders in the construction sector.

Fill the form for an exclusive sample of this report @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17129

High Initial Cost of BIM Software to Hinder Growth

It is estimated that the initial cost of BIM software can go anywhere between US$6,000 to US$10,000, with additional expenses involved for installation and maintenance of the software. Such high costs incurred in implementing BIM software are the key factor why the rate of adoption of BIM among low-scale contractors or developers is low. Apart from this factor, the belief that the returns on investment for BIM are low and can lead to a reduction in the overall profit margins of a construction project is also hindering the widespread adoption of BIM software in New Zealand, India, and Australia.

About Us :

Transparency Market Research (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.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact Us :
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Australia, New Zealand, and India Building Information Modeling (BIM) Market: India to Surge at 23.9% CAGR 2016–2024 here

News-ID: 535094 • Views:

More Releases from TMR

Emerging Opportunities in Logistics Market with Current Trends Analysis
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031. The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,

All 5 Releases


More Releases for BIM

BIM CONSULTING - BIM Global Solutions
BIM Global Solutions has over 15+ years' experience, providing various BIM Services starting from the design/sketch stage. This helps identify critical points even before construction work begins on site. As a stakeholder each input can be very valuable to help you decide how every step of construction is accounted for even before actual construction. Our BIM consultants help different project stakeholders like Builders, Real Estate Developers, Architecture/Engineering companies, and consultants to
Three practical findings from applying BIM in China
This article was previously published in Aquatech. A special tool in digital transformation Building information modelling (BIM) refers to the development of tridimensional digital representations of facilities. With proven benefits in design and construction, BIM is becoming mandatory for environmental infrastructures all over the world. Demand is now growing to extend its usage to Operation & Maintenance (O&M). BIM plays a special role in the digital transformation arsenal as it
Architectural BIM Software Market 2020 Key Players - Autodesk, BIM Track, AEC So …
Updated Research Report of Architectural BIM Software Market 2020-2025: Summary: Wiseguyreports.Com Adds “Architectural BIM Software - Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2025” To Its Research Database. Overview The Global Architectural BIM Software market was estimated to be worth USD 5.265 billion in 2017, and is projected to reach USD 14.033 billion by 2025, registering a CAGR of 17.5% over the forecast period of 2018-2025. The scope
Architectural BIM Software Market Continues Expanding | Autodesk, BIM Track, AEC …
Architectural BIM Software market' research report provides the up-to-the-minute industry qualitative research data and industry upcoming trends, allowing you to identify the products and end users driving Revenue growth and productivity. The Architectural BIM Software industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. The report includes the forecasts, breakdown, and discussion of important industry trends, market size, market
Building Information Modeling (BIM) Market - High Infrastructural Investment to …
The market for building information modelling (BIM) is expected to show steady growth in regions boasting easy access to the latest technologies and high strategic planning in the field of data management. Countries such as Australia, Canada, New Zealand, France, Japan, South Korea, Brazil, the U.K., and the U.S., thus exhibit a high uptake of the BIM software. Most of these countries have started adopting BIM solutions to boost infrastructural
Global Building Information Modeling (BIM) Market in 2025
This report studies the global Building Information Modeling (BIM) market, analyzes and researches the Building Information Modeling (BIM) development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like Autodesk Nemetschek Se Trimble Navigation Limited Asite Ltd. Bentley Systems Aveva Rib Software Ag Dassault Systemes Archidata Inc. Intergraph Corporation Beck Technology, Ltd. Computers And Structures, Inc. Robert Mcneel & Associates Cadsoft Browse complete report at https://www.researchtrades.com/report/global-building-information-modeling-bim-market-size-status-and-forecast-2025/1427901 Market segment by Regions/Countries, this report