Home » Building & Construction, Computers & Software, Manufacturing & Industry, Technology » Building Information Modelling (BIM) Market Massively Growing CAGR of 16% and will Reach USD 11 billion by 2022

“Building Information Modelling Market”
Building Information Modelling Market, End User (Government, Architects, Engineers), By Industry (Residential, Commercial, Healthcare, Entertainment, Sports, Education) – Forecast 2016-2022

The global market for Building Information Modelling is majorly driven by factors such growing construction industry, automation in construction among others.

 

Market Highlights

The construction industry is expected to grow at substantial during next couple of years. Countries such as U.S., China and India are some of the major leading countries which holds more than of 50% market share in field of construction. Advancement in the current market scenario and adoption of technology in current work process is making the things easier and increasing the efficiency of overall process. It is also expected that over the next couple of years, the time taken in construction of any infrastructure will be less due to the high automation in the process. BIM is a technology/system which helps to synchronize all the aspects of any process in one. It offers software which helps to create a virtual model of infrastructure and analyze with all the aspects. In many countries, government is making new policies in order to make the BIM mandatory for any construction.

 

Companies such as Autodesk which is one of leading player in BIM Market discovering new platforms and application for better implementation and result from BIM software. In the recent trend, cloud computing and augmented reality is taking place with respect to BIM. Arrival of these technologies will help to reduce the construction time as well as cost. Many studies around the world on the benefits of BIM show that cost and time are the major factor for the adoption of building information modelling.

 

Whereas some of the factors such as high cost of software and hardware and high training cost are some of the major restraints of the market.

 

The global BIM market is expected to grow at CAGR of 16% and estimated to reach at market size of US ~$11 billion by the end of forecast period.

 

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Key Players

  • Autodesk (U.S.)
  • AVEVA (U.K.)
  • Bentley Systems Incorporated (U.S.)
  • GRAITEC (France)
  • Intergraph Corporation (U.S.)
  • Data Design System (Norway)
  • IES Ltd. (U.K.)
  • 4M Building Solutions (U.S.)
  • Nemetschek Group (Germany)
  • Trimble Inc., (U.S.)

 

Market Research Future Analysis:

The Global Building Information Modeling (BIM) market is estimated to grow at a promising rate in upcoming years. EMEA is the leading region among North America, and Asia-Pacific region.  Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption in automotive & transportation sector is the major growth drivers for BIM market in Asia-Pacific region. Whereas lack of technical awareness about building information modeling and lack of technical support required deploying the software solution is the major barrier for BIM market in Asia-Pacific region.

 

Intended Audience

  • Software developers
  • Government Agencies
  • Architects
  • Constructing Service providers
  • Construction Companies
  • Research Institutes & Universities

 

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The Building Information Modelling Market is expected to grow steadily during the forecast period. The major driving factor identified in this report are increasing government interest in construction industry and implementation of BIM, high productivity of BIM, improved quality among others. Growing cloud computing and augmented reality in the field of BIM is also playing very major role in the growth of BIM. BIM Software helps to simulate and design the infrastructure in 3D which helps the project engineer and project manager to find out all the possible required things for the development. Cost estimation feature of BIM allows the user to directly calculate the project cost. Preplanning is always better than the on-ground planning but customization is one thing which only occurs which project is taking place. Variety of feature regarding customization of project and re-calculation of cost and its associated factors gives the project engineer an advantage which helps to control the things.

 

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