Global Building Information Modeling Market: Snapshot
Building Information Modeling (BIM) is an advancement for CAD, which provides realistic blueprints involved in the construction industry. BIM is an integrated construction management software platform. It is a promising choice of AEC (architecture, engineering, construction) professionals as it is a collaborative process which deals with the 3D model planning, design, and construction of a building. Furthermore, it is accessible for both the owners and stakeholders to make any resolution related to the model even after the completion of building construction. Thus, The Global Building Information Modeling Market will be growing at a CAGR of 10.88% over the forecast period, as per the findings of a recent IndustryARC report.
Autodesk BIM 360, Tekla BIMsight, Revit, Navisworks, BIMobject, BIMx, Archicad, AECOsim Building Designer, Trimble Connect and Hevacomp are the top 10 BIM software solutions across the globe. BIM has progressed into virtual design and construction, through which integrated digital management of all phases of a construction project is efficiently evaluated to obtain fruitful results.
According to IndustryARC estimations, the global building information modeling market valued $3864.8 million in 2018. This information was disclosed in a recently published report titled: “Building Information Modeling Market: By Type (Software, Service); By Vertical (Commercial, Residential, Public Infrastructure, Healthcare, and Other); By End-User (Owner, Architects, Engineers, and Other); By Region (North America, Europe, APAC, and RoW) – Forecast (2019-2025).” BIM is more focused on reducing the waste in the construction industry, to eliminate reformatting of the facility and also to eradicate the supply chain inefficiencies, clashes, and reworking. Sophisticated BIM is increasing at a rapid rate with more digital and collaborative features to improve the future constructions for a better tomorrow.
Presently BIM software is widely utilized by the government agencies not only to plan, design, and construct but also to operate and maintain varied physical infrastructures, which includes tunnels, water, electricity, refuse, communication utilities, gas, roads, bridges, ports, and railways. Among different verticals, BIM was mainly recognized through public infrastructure, as it is widely adopted by the building industry due to its immense potential in benefiting transportation industry which has to run in parallel with the increasing population. Developing countries investments in infrastructure reflect the economic growth of the country. The increasing use of BIM in infrastructure balance the poverty reduction. Therefore, the analysts of the report state that infrastructure is set to grow at a CAGR of 13%-14% up to 2025. The widespread of construction projects in the United States are contributing to the growth of the global building information modeling market in North America. For this, it held as a leading region and accounted for the largest share that is 38% in 2018.
Global Building Information Modeling Market Companies: Recent Developments
Some of the major share players in the global building information modeling market are Autodesk, Inc., ABM Europe, Atkins Bentley System, Inc., BIM Technologies, Dassault Systemes S.A., Deutsche Bahn AG, Faithful+Gould, Siemens AG, Trimble Inc., Nemetschek AG, and Intergraph AvevaAsite Ltd.
- In 2018, Autodesk and the China Design Digital Technology Co. Ltd. (CDDT) signed an agreement to be in partnership. This collaboration is pinpointed primarily to advance the BIM adoption in China.
- In June 2018, Atkins Bentley Systems Inc. acquired Synchro Software. This acquisition was aimed to extend the digital workflows for infrastructure project delivery by using 4D Construction Modeling
BIM tools provide proper insights to plan, design and to construct buildings and infrastructures using intelligent 3D model software. It also offers a wide range of opportunities in detecting the issues and helps to avoid wastage of time and money. The digitalized world is encouraging the growth and demand of BIM in the construction industry.
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