BIM-Building Information Modeling Market

Asia-Pacific region which include Singapore, China, Japan, South Korea and other countries is projected to witness brisk growth rate in BIM market during the forecast period 2017-2023. The growth is primary attributed because of the growing number of constructional activities which is coupled with the advancements in design industry to leverage BIM technology on numerous projects. These applications are centered on real-time monitoring of activities and decision making capabilities along with access to necessary designs, thus creating huge scope for BIM market in the near future.

As per the IndustryARC estimates, the Asia-Pacific region accounted the market share of 21% in the year 2015 by continuing its dominance with the high growth rate of 10% over the forecast period 2017-2022. Additionally, there is also a significant rise in the number of investments especially in developing economies from Asia-Pacific have been providing enormous opportunities for deployment of BIM services especially for construction of public infrastructure projects because of which, BIM technology is gaining the popularity in the recent years. Increasing emergence of new Chinese companies and continuous rise in the population has boosted the residential construction in China which made the country as pioneer in the BIM market. In 2012, the striking torus shape of the Phoenix Media Center with 65,000 square meters of media production and office spaces was constructed by using BIM technology.

Implementation of stringent regulations by state and central governments of various economies along with the regulatory bodies has been playing a crucial role in the BIM adoption. The Singapore government has created a central policy for building codes, regulations and circulars which are eventually promoting the adoption of BIM in the construction projects. Moreover, one of the early adopters of BIM processes, the South Korean government has been working systematically to increase the scope of BIM mandated projects since 2010. In 2016, Public Procurement Service mandated BIM adoption for all public sector projects over $50 million. To Know More, Click Here

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