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Demand for Building Information Modelling Solutions Expected to Surge as Governments Implement Favorable Policies, Says TMR

Posted on Feb 24, 2016

A new study by Transparency Market Research finds that Autodesk Inc., Dassault system SA, Bentley Systems Inc., and AECOM currently hold leading positions in the global building information modelling (BIM) market. Other prominent companies such as Synchro Software Ltd and Nemetschek AG are identified as emerging players. 

Prior to the launch of BIM, software such as 3DMax, AutoCAD, and CATIA were primarily used for interior designing and architecture globally. While it took quite some time for BIM solutions to surpass conventional software in terms of popularity, their adoption is projected rise marginally until 2022. As a result of these developments, the BIM market is expected to become more competitive during the course of the TMR report’s forecast period from 2015 to 2022.

 

Favorable Policies and Rising Awareness to Boost Adoption of BIM Solutions Worldwide

Government bodies that take up construction management are encouraging the adoption of BIM in countries such as the U.S., the U.K., China, and Japan. For instance, as per new regulations in the U.K, implementing BIM for public projects will become mandatory by the end of 2016. Additionally, a BIM-based building permitting system has been implemented in Singapore. Such regulations will bolster opportunities for sales of BIM across developed nations.

“The implementation of BIM makes estimation of budget way easier, thereby significantly reducing the overall maintenance cost,” said a TMR analyst. “Since BIM software makes project planning less complicated, their adoption is gradually increasing across construction companies looking to redefine their role in the industry,” he added. BIM systems simplify scheduling and budgeting during the commencement of any construction project. The rising awareness regarding the convenience offered by these solutions will augur well for the global BIM market.

High Initial Investment and Inadequate Expertise to Limit Widespread BIM Adoption

On the flip side, building an information modelling requires high initial investment. This limits the deployment of BIM across small-scale contractors and developers. Furthermore, hiring services of a consulting firm or technical experts to develop this software can incur additional cost, which also limits the scope for widespread deployment of BIM solutions.

The lack of technical expertise also hinders the adoption of BIM solutions. Being a critical system, BIM requires a specialist to design a building model using the software. Furthermore, it needs coordination between the team at different stages of deployment. Inadequate technical expertise could hamper the frequent upgrades and reconfiguration of both hardware and software, thus resulting in less adoption of the building information modelling solutions.

Inclusion of Training Programs Can Mitigate the Issue of Lack of Technical Skills

Despite being one of the major hindrances, the absence of technical expertise can be addressed by the inclusion of suitable training programs. These programs can be made available at institutional level or at open source providing access to lite versions of the BIM software. With governments encouraging such programs, TMR expects demand for BIM solutions to surge in the near future.

Furthermore, the opportunities for BIM implementation are also expected to rise with the increasing spending construction projects across suburban areas. Besides this, shifting to a cloud infrastructure can help the market overcome problems associated with the high cost of software.

TMR expects the companies in the BIM market to witness the most lucrative opportunities in North America and Asia Pacific. By revenue, North America emerged as a major contributor in the market, with a dominant share of 33% in 2014. On the basis of end users, the global BIM market is led by architects.

As per TMR, the global building information modelling market stood at US$2.7 bn in 2014. Rising at a CAGR of 19.1%, the market is projected to reach US$11.5 bn by the end of 2023.

This review is based on a report published by TMR, titled “Building Information Modeling (BIM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2022.”

Key Takeaway:

  • Rising uptake of BIM expected in response to favorable government policies.
  • High initial cost of software hinders deployment of BIM among small-scale contractors.
  • Training programs at institutional level will help address the issue of absence of technical expertise.
  • North America emerges as largest regional market will 33% share in 2014

The report segments the building information modeling market as:

BIM Market Analysis, by Solution type

  • Software
  • Consultancy Service

BIM Software Market Analysis, by Type

  • On-premise Software
  • Cloud-based Software

BIM Market Analysis, by End-users

  • Architects
  • Contractors
  • Engineers
  • Developers

BIM Market Analysis, by End-use industry

  • Water and Waste Water
  • Rail Transit and Aviation
  • Energy Generation Facilities
  • Roads, Bridges, and Highways
  • Houses and Apartments
  • Factories and Warehouses
  • Educational Institutes and Commercial Spaces
  • Government Buildings
  • Dams and Others

BIM Market Analysis, by Geography

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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