360 MARKET UPDATES Report provides a 360-degree overview of the global Building Information Modelling Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Building Information Modelling Market – Segmented by Solution Type (Software, Service), Application (Commercial, Residential, Industrial), End-User and Region – Growth, Trends and Forecast (2018 – 2023)”
Global “Building Information Modelling Market” is expected to register a CAGR of approximately 17.5% during the forecast period of (2018 – 2023). Also, Building Information Modelling Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Building Information Modelling Analysis.
Building Information Modelling market Report provides a 360-degree overview of the global Building Information Modelling market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Building Information Modelling Market Report Covers Leading Manufacturers: Autodesk Inc., Asite Solutions Ltd, Bentley Systems Inc., Dassault Systems SA, Nemetschek SE, Trimble Inc., Aveva Group PLC, Bimeye Inc., TopconPositioning Systems Inc., Rib Software AG, Clearedge3D Inc., Hexagon AB
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The Global Building Information Modelling (BIM) market was estimated to be worth USD 5.265 billion in 2017, and is projected to reach USD 14.033 billion by 2023, registering a CAGR of 17.5% over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by major players, including the providers of software and services. The regions considered in the scope of the report include North America, Europe, and others. The study also emphasizes on how the deployment of BIM tools for a building helps various people involved in planning and constructing a building.
In the recent years, owing to its benefits over the existing solutions, such as paper-based design and modeling, and CAD systems, BIM has recorded an increasing adoption. The emergence of BIM has created a paradigm shift within the architecture, engineering, construction, and operations (AECO) industry, by changing the way construction activities are planned, designed, built, and managed. These tools facilitate money saving, time saving, and simplifying the construction processes, thereby driving the building information modelling software market. Moreover, companies are trying to develop a standardized BIM model that can be used to integrate the different types of modeling systems. In addition, government norms in various countries are promoting the usage of BIM software in key international markets. Similarly, through its various modules, BIM enhances project performance and productivity. However, cost- and implementation-related issues can act as challenges for the widespread adoption of BIM software.
Governmental Mandates Promoting the Usage of BIM in Key International Markets
The introduction of governmental regulations in major markets, such as the United Kingdom, the United States, and Singapore, has considerably aided the adoption rate of BIM software.
With growing population, there has been a rise in the demand for the residential sector, and various governments are providing incentives for the growth of this sector. For instance, the UK government aims to make Level 2 BIM mandatory for all publicly-funded projects from 2016 onwards, which is expected to subsequently help Europe account for the largest market share in the near future. In addition, the adoption of these solutions in several states, universities, and private organizations of the United States are supporting the adoption of higher BIM standards.
Commercial Applications to Account for Highest Market Share
These solutions are witnessing an increased adoption in the commercial segment, because they offer a competitive advantage over high-end commercial contractors, as they become more aware of their competencies and capabilities. Developing these buildings requires a new and sophisticated approach toward design, thus emphasizing the need for BIM technology. Moreover, in sectors, such as retail, for large retailers, BIM can support complex planning applications, particularly where engagement with local stakeholders is required to overcome potential objections.
Asia Pacific to Witness the Highest Growth Rate
In the Asia-Pacific region, the growth in the market is augmented by the growth of the construction industry in countries, such as China and India. Government-aided schemes such as Smart Cities in India, which plan to develop 100 cities with revamped infrastructure in the country, is further expected to drive the demand for BIM solutions. Moreover, China is undertaking various new infrastructural projects. Over the next decade, China plans on moving approximately 250 million people into the countryâs rapidly growing megacities, thus increasing the demand for residential and commercial infrastructure.
In addition, the growth of the smart homes market in the region is expected to augment the demand for such solutions.
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Reasons to Purchase Building Information Modelling Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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