Building Information Modeling, also known as BIM is used in the Architecture, Engineering and Construction Industry (AEC). The BIM software is a 3D designing and modeling tool, which helps the AEC industry to efficiently design, build, operate and maintain physical infrastructures. It also covers the 4th and 5th dimensions which are time and cost efficiency. BIM combines the functional and physical characteristics of a facility to create a digital representation of it and then by using the various layers of accurate information, generates a digital “Master Model”. It is not only used in the initial phases of planning and design to give an overview of the facilities but throughout the project life-cycle. BIM mitigates the risks related to the construction processes by simulating an environment where testing and analysis can be done during the design phase. People working on a single project around the world can access it effortlessly, and hence BIM helps in increasing the team collaboration.
The end users of the BIM technology mainly include Architects, Engineers, Developers, and Contractors. Also, depending on the application, BIM is used in the following domains: Architecture, Construction, Sustainability, Structures, MEP and Facility Management.
The market for Building Information Modeling is increasing at a fast rate and is expected to grow at a CAGR of 19.1% by 2022 according to Transparency Markets Research (TMR). TMR has also projected that the BIM market will be worth $4.05 Billion overall by 2022. Since Infrastructural Development is one of the major contributors to any country’s economic growth, companies are switching to BIM to boost the infrastructure segment. There are numerous reasons why companies are adopting BIM technology in their projects. The recent advancements in technology have enabled the data handling from remote locations. Also, cloud-based solutions have helped in increasing the inter-coordination among the users. But there are some drawbacks too.There are high initial costs incurred in setting up the BMI system and a lack of trained professionals. However, the overall profits in the long-run are huge, and hence this problem is also gradually reducing by the steps taken by the government to promote BIM.
The BIM market is segmented into the following categories:
1. Solutions – Professional and Consultancy Services, Software (Cloud-based and On-Premise)
2. End Users – Architects, Engineers, Developers, and Contractors
3. End User Industry – Government Buildings, Residential Buildings, Educational Institutions, Highways and Roads, Railways and Waterways, Air Transits, Factories, and Warehouses.
BIM is currently implemented in the following regions:North America – US and Canada, Europe – Germany, France, and The UK, Asia Pacific – India, China and Japan, Latin America – Brazil, The Middle East and Africa. North America is the most significant player in this segment with a market share of about 33%. The growing awareness about the potential of BIM in reducing the errors and increasing the efficiency in construction is the main reason behind the rising investment in BIM by large companies which provide industrial solutions. For Example: In France and Germany, the government is playing a key role in the promotion and implementation of BIM by mandating its use in most of the public projects.
The major players in this field are Autodesk Inc., Nemetschek AG, Asite Solutions Ltd, Beck Technology Ltd, Bentley Systems Inc., Dassault Systemes, Pentagon Solutions Ltd. and Synchro Software Ltd.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage