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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.
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The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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