Market Synopsis:
Building Information Modelling (BIM) is being viewed as a revolutionary technology for the construction sector not only because of its vast ranging functional capabilities but also due to the low risk and high control of operations provisioned by it.
The global market for Building Information Modelling (BIM) Market is currently valued at over USD 3000 Mn and is likely to surpass the USD 8000 Mn mark by the end of 2023, reflecting an impressive CAGR of 14.9% during the assessment period. BIM is being increasingly used in mega infrastructure projects such as railways, residential complexes, roads etc.
By using BIM, architects and engineers are able to obtain digital database of construction sites, which allows them to modify or change design of structures. In addition, introduction of stringent building safety regulations is likely to support the adoption of BIM in the coming years. However, the high initial cost of setup is limiting BIM’s prospects in infrastructure projects that face budget constraints.
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Competitive Dashboard:
Some of the key players profiled in the report are Hexagon AB, Aveva Group Plc, Autodesk Inc., Dassault Systèmes, Nemetschek SE, Trimble Inc., Asite Limited, Bentley Systems, RIB Software SE, and Archidata Inc.
Market Segmentation:
- By project lifecycle, the Building Information Modelling (BIM) market has been segmented into pre-construction, construction, and operation.
- By end-user, the global Building Information Modelling (BIM) market has been segmented into government, engineers, and architects.
- By industry, the Building Information Modelling (BIM) market has been segmented into residential, commercial, healthcare, entertainment, sports, industrial, oil & gas industries, and others.
Regional Insights:
The global Building Information Modelling (BIM) market, by region, has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to retain the maximum market share during the forecast period striking a CAGR of 11.2%. The region is a pioneer in technological advancements and is quick in adopting novel technologies. These factors are expected to augment the Building Information Modelling (BIM) market in the region. Additionally, increasing commercial as well as residential construction projects coupled with strong economic growth rate of the region are further expected to expedite the proliferation of the Building Information Modelling (BIM) market over the assessment period.
Asia Pacific is estimated to mark the highest CAGR in the foreseeable future. The boom witnessed in the AEC industry, especially in fast-developing economies such as China and India, is likely to boost the Building Information Modelling (BIM) market in the forthcoming years. Furthermore, the initiatives undertaken by the governments for the introduction of smart cities is another major factor responsible for catalyzing the growth of the market during the forecast period. Meanwhile, the Middle East & Africa is an important growth pocket as the international players have recognized the untapped potential of the region. It is expected to exhibit substantial growth across the review period.
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Industry News:
In October 2018, German bathroom brand, Kaldewei, has adopted Building Information Modelling (BIM) for providing its private customers and industry clients with digital models of its products.
In October 2018, Hexagon AB, a global leader in digital solutions, has announced the acquisition of a fast-growing developer of CAD (computer-aided design) software, Bricsys. The acquisition is aimed at providing construction technology solutions.
In October 2018, Brisbane-based architecture firm Cottee Parker Architects has leveraged its BIM to keep the construction of the Mercedes-Benz flagship, AutoHaus, on schedule.
In November 2018, Oslo-based Building Information Modelling (BIM) startup, Imerso, has raised USD 2 Mn from Vito ONE and NewMark Capital along with the participation from existing investors 500 Startups and TRK Group
Intended Audience:
- Software developers
- Government Agencies
- Architects
- Constructing Service providers
- Construction Companies
- Research Institutes & Universities
Table of Contents
1. Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure:
1.3.1 Global Building Information Modelling Market: By Product
1.3.2 Global Building Information Modelling Market: By End User
1.3.3 Global Building Information Modelling Market: By Industry
1.3.5 Global Building Information Modelling Market: By Region
Continued…
List f Table
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Product Offering
Table 4 Global Building Information Modelling Market, By Product, 2017-2023 (Usd Million)
Table 5 Global Building Information Modelling Market, By Project Lifecycle, 2017-2023 (Usd Million)
Continued….
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List of Figures
Figure 1 Global Building Information Modelling Market: Market Structure
Figure 2 North America Market Size & Market Share by Country (2017 Vs 2023)
Figure 3 Europe Market Size & Market Share by Country (2017 Vs 2023)
Figure 4 Asia-Pacific & Market Share by Country (2017 Vs 2023)
Figure 5 Rest of The World Market Size & Market Share By Country (2017 Vs 2023)
Continued….
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