Building Information Modeling Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Building Information Modeling Market: Overview
Building information modeling (BIM) is a process based on intelligent 3D modeling that helps in the more efficient management, construction, designing, and planning of infrastructure and buildings. BIM allows construction, engineering, and architecture professionals to gain a decisive insight and get equipped with powerful tools for streamlining their projects. BIM is considered effective in upgrading a project’s work quality and productivity and complying with commercial and government BIM mandates.
Global Building Information Modeling Market: Key Trends
The adoption of BIM is expected to have a positive impact on the construction sector and eventually on the world BIM market owing to some desirable advantages. These could be related to improvement in the coordination and communication practiced all through the asset lifecycle management process. The world BIM market is also expected to win traction on account of mandates regarding the application of BIM imposed by governments in developed nations. Other factors that could raise the growth bar for the world BIM market include the benefits of enhanced productivity and optimized project performance promised on the back of the adoption of BIM.
For the forecast period 2017–2025, the industrial application is prognosticated to expand at a telling rate in the world BIM market. The industrial sector could draw lucrative growth opportunities for the world BIM market because of the adoption of BIM making possible digital prototyping simulation and analysis which help shorten the construction period. This allows construction projects to reduce risks and regularly upgrade productivity. BIM software pampering construction projects with the benefits of design modeling and fulfillment of their demand for economical processes are anticipated to set the tone for a powerful growth in the world BIM market.
Global Building Information Modeling Market: Market Potential
The gargantuan data center worth US$1.0 bn of Facebook, Inc. is expected to implement the technological merger of BIM software and real-time drone photos making a 3D collage by DPR Construction. This is envisaged to add value to the building procedure, according to the technology integration manager of the construction company. The company will employ licensed pilots to fly drones for calculating dirt levels and other progress in the construction process. The drone technology will also be implemented to construct the second phase of the campus.
Global Building Information Modeling Market: Regional Outlook
During the forecast period, the leading share in the international BIM market is predicted to be earned by North America. The key factors empowering the rise of the North America BIM market could be the ballooning awareness about the advantages of BIM among contractors and constructors and steadfast residential and commercial constructions. Industrial, civil infrastructure, and building applications in the international BIM market could showcase dominance while helping Europe to grab a larger share following North America.
The high cost of BIM software and tools increasing the overall cost of projects could bruise the demand of the international BIM market. However, participants are foreseen to achieve profits against the odds in the international BIM market through strategic partnerships and robust distribution network. Autodesk, Inc., a U.S. company, is a ruling provider of software solutions in the international BIM market which serves the real estate, industrial, construction management, and architecture sectors.
Global Building Information Modeling Market: Competitive Landscape
Besides strategic collaborations, companies operating the worldwide BIM market are prophesied to focus on the development of advanced technologies such as next-gen platforms and continued expansion in emerging regions. Lately, Autodesk, Inc. has partnered with Qatar Rail, Tata Consulting Engineers Ltd., and NASA Ames Research Center and is looking to stride forward while riding on technological advancements in 3D modeling. Some of the top companies in the worldwide BIM market are Asite Ltd., Bentley System, Inc., Trimble Navigation Limited, and Nemetschek SE.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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