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Infrastructure Facility Management Systems Gain Prominence during COVID-19 Crisis

With several million reported cases and deaths, the coronavirus outbreak demands global action to counteract the virus. This has brought companies in the building information modeling (BIM) solutions market under the highlight for providing infrastructure facility management (FM) systems to reduce the likelihood of COVID-19 infections indoors. Such systems are playing a pivotal role to reduce crowding and facilitate social distancing between occupants. The significance of these strategies are based on mathematical methods, BIM, programming and FM tools & databases to achieve safe management of populated public buildings during the ongoing pandemic.

Companies in the building information modeling (BIM) solutions market are increasing their focus in mathematical applications to analyze the paths of people inside large and populated spaces. These mathematical applications are expected to be synchronized with in-house developed software and the Internet domain as source & input data.

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Investment in Training, Drawing Software Help in Updates for BIM Models

The global building information modeling (BIM) solutions market is projected to reach US$ 43 Bn by 2031. However, challenges in updating BIM models are still prevalent. There is a growing need for education and training in case a project requires to be updated using a BIM model. However, many times, end users lack the necessary skills in-house to do it. In such cases, investment in training and education of BIM specialists might be expensive, but will lead to long-term benefits to avoid outsourcing costs for adding updates in BIM models.

The careful attention to industry standards and a common framework are necessary before rushing to buy drawing software in order to deliver updates in BIM models. Project teams are opting for software suite that meets their specific needs, and which is broadly compatible with tools used by all stakeholders.

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Innovative Mobile Scanners Detect Construction Errors, Delays in Real-time

The ever-expanding construction industry holds lucrative opportunities for vendors in the building information modeling (BIM) solutions market. The U.S.-based startup Avvir is introducing its mobile scanner that detects construction mistakes in real-time. The companies are increasing their R&D to develop scanners that user lasers and artificial intelligence (AI) to scan under-construction buildings.

The BIM is being idealized in several construction projects. However, construction errors and delays cause deviations from original plans. It is potentially challenging to incorporate changes at a later stage. Hence, companies and startups in the building information modeling (BIM) solutions market are innovating in mobile scanners to identify construction errors and delays. These scanners provide on-site managers the choice to either fix the error immediately or push construction updates to the original BIM.

AR Helps Builders to Visualize How 2D Plans Overlay with 3D BIMs

The augmented BIM is being highly publicized in the building information modeling (BIM) solutions market. The U.K.-based startup XYZ Reality is increasing its focus in augmented BIM to help builders visualize how their 2D (2 dimensional) plans overlay with 3D (3 dimensional) BIMs laid out by architects.

Vendors in the building information modeling (BIM) solutions market are gaining a strong research base in augmented reality (AR) and virtual reality (VR) to visualize BIMs and make them more accessible at the project site. Such trends are speeding up construction and reducing costs to make it easier for builders to spot errors in real-time.

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Analysts’ Viewpoint

The infrastructure facility management systems are gaining popularity for reducing the likelihood of COVID-19 infections indoors. The global building information modeling (BIM) solutions market is estimated to advance at a striking CAGR of ~15% during the forecast period. However, in many cases, it has been found that BIM specialists are overwhelmed with data, especially while updating a BIM model for an existing building. In order to overcome this challenge, vendors should increase the availability of software such as the NavVis IndoorViewer that enables users to import multiple point cloud datasets from different devices. The BIM communication is becoming increasingly important to report inaccurate time recording at any phase of the construction process that may affect the overall efficacy of a project.

Building Information Modeling (BIM) Solutions Market: Overview

  • The latest research report published by Transparency Market Research pertains to the global building information modeling (BIM) solutions market for the historical period of 2018 & 2019 and the forecast period of 20212031
  • Need of constructing various structures is on the rise due to rapid urbanization and industrialization, consequently driving the global building information modeling (BIM) solutions market. Companies are rapidly developing user-friendly solutions, which are anticipated to considerably increase demand for building information modeling (BIM) solutions in the near future.  The significant trend of making large commercial buildings is expected to trigger the growth of the building information modeling (BIM) solutions market.
  • In terms of revenue, the global building information modeling (BIM) solutions market is projected to reach value of US$ 43 Bn by 2031, expanding at a CAGR of ~15% during the forecast period

Increase in Construction Activities: Key Driver of Building Information Modeling (BIM) Solutions Market

  • Rising awareness of BIM & related benefits across the globe, increasing number of construction projects, and growing demand for automated models in the AEC (architecture, engineering, and construction) sector have been supporting BIM in the construction industry, specifically for infrastructure and commercial projects. This, in turn, is expected to boost the growth of the building information modeling (BIM) solutions market.
  • Development of infrastructure to support the rising road and railways network due to the increasing population is anticipated to drive the building information modeling (BIM) solutions market in the upcoming years. For instance, according to the India Brand Equity Foundation (IBEF) 2018, the Hyderabad Metro Rail Project is the largest PPP (Public Private Partnership Project) in the metro division. The PPP network is expected to cover a total distance of about 72 Km, and projected to carry around 2.2 million passengers per day by the year 2024. The cost of this project is stated to be US$ 2.01 Bn.
  • Consumers of BIM, such as architects, designers, sub-contractors, and contractors across the globe suggest that the return on investment (ROI) in BIM is greater than with conventional construction management. This, in turn, is expected to drive the growth of the building information modeling (BIM) solutions market.

Emergence of Virtual Reality (VR), Augmented Reality (AR) Technologies Transforming Building Information Modeling (BIM) Solutions Market

  • Equipment operator training and safety training are two areas where virtual reality (VR) could have a significant impact on the AEC industry. With VR, laborers could get more exposure to environments such as working at a height or a confined space controlled environment. Augmented reality (AR) supports the construction industry to achieve a detailed observation into each phase of the project lifecycle. Reality modeling and 3D allows project designers and architects to move various elements around and detect any potential issue in the design prior to a problem arising.
  • With AR, clients can go through the building before it is constructed or built. This may help clients to obtain a better picture of the end result, allowing the designs to get earlier approval. Combining AR with BIM helps users to view 3D models from BIM in the real world. Moreover, electrical and plumbing systems can be placed more precisely to reduce installation errors.
  • Inspectors, architects, and contractors can position pins using AR to the designated areas with issues. Moreover, comments can be placed, along with pins that helps to provide more details.
  • Maintenance is made simpler by the use of AR. AR users can view work history, information on schematics, and work directions for specific building models.
  • This is expected to create opportunities for the building information modeling (BIM) solutions market

Building Information Modeling (BIM) Solutions Market: Competition Landscape

  • Detailed profiles of providers of building information modeling (BIM) solutions have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global building information modeling (BIM) solutions market are
    • Dassault Systèmes SA
    • Autodeck Inc.
    • Bentley Systems Inc.
    • Trimble, Inc.
    • Microsoft Corporation
    • Nemetschek Group
    • AVEVA Group plc
    • FARO Technologies, Inc.
    • Tekla Corporation
    • ClearEdge3D, Inc.
    • DC Engineering
    • Geo-Plus
    • Innovaya
    • RIB Software SE
    • Safe Software, Inc.
    • SierraSoft
    • Vectorworks, Inc.

Building Information Modeling (BIM) Solutions Market: Key Developments

  • Key providers of building analytics, such as Dassault Systèmes SA, Autodeck Inc., Bentley systems Inc.  and Trimble, Inc. are focusing on the development of cost-effective building information modeling (BIM) solutions to attract more customers. Additionally, players active in providing building information modeling (BIM) solutions are focusing on inorganic growth strategies such as strategic collaborations and mergers & acquisitions with technology partners to improve their offerings and market reach in the market.
  • Some of the key developments in the global building information modeling (BIM) solutions market are highlighted below:
    • In April 2021, Dassault Systemes announced a three-year renewal of its strategic partnership with Bouygues Construction that seeks to open new horizons in the construction industry
    • In March 2021, Rendra AS, a JDM Technology Group company announced a new three year partnership contract with Takenaka Corporation of Japan for supplying StreamBIM software to the AEC industry
    • In February 2021, Bentley Systems announced plans to acquire Seequent, a key player in software for geological and geophysical modelling. This strategic deal was worth approximately US$ 1.05 Bn.
    • In November 2020, Autodesk Inc. announced three new product additions to its construction cloud offering that includes Autodesk Quantify, Autodesk Build, and Autodesk BIM Collaborate.
  • In the global building information modeling (BIM) solutions market report, we have discussed individual strategies, followed by company profiles of providers of building information modeling (BIM) solutions. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global building information modeling (BIM) solutions market.

Building Information Modeling (BIM) Solutions Market – Scope of Report

A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global building information modeling (BIM) solutions market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the building information modeling (BIM) solutions market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the building information modeling (BIM) solutions market will progress during the forecast period of 2021 - 2031.

The report offers intricate dynamics about the different aspects of the building information modeling (BIM) solutions market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the building information modeling (BIM) solutions market during the forecast period. It also includes impact analysis of COVID-19 on the building information modeling (BIM) solutions market. The global building information modeling (BIM) solutions market report helps to estimate statistics related to the market progress in terms of value (US$ Mn).

The study covers a detailed segmentation of the building information modeling (BIM) solutions market, along with key information and a competitive outlook. The report mentions the company profiles of key players currently dominating the building information modeling (BIM) solutions market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Building Information Modeling (BIM) Solutions Market

The report provides detailed information about the building information modeling (BIM) solutions market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the building information modeling (BIM) solutions market, so as to help them formulate successful strategies and take target-driven decisions.

  • How are key market players successfully earning revenue out of building information modeling (BIM) solutions?
  • What will be the Y-o-Y growth of the building information modeling (BIM) solutions market between 2021 and 2031?
  • What are the winning imperatives of market frontrunners in the building information modeling (BIM) solutions market?
  • What are the major drivers and restraints of the market?
  • What will be the size of the building information modeling (BIM) solutions market from 2021 to 2031?
  • Which will be the fastest growing segment in the building information modeling (BIM) solutions market?
  • Which are the leading companies in the building information modeling (BIM) solutions market?
  • What are the strategies of companies operating in the market?

Research Methodology – Building Information Modeling (BIM) Solutions Market

The research methodology adopted by analysts to compile the building information modeling (BIM) solutions market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts of the building information modeling (BIM) solutions market. During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine sources, analysts have emphasized the changing scenario of the building information modeling (BIM) solutions market. For secondary research, analysts scrutinized numerous annual report publications, white papers, and data of major countries of the world, industry association publications, and company websites to obtain the necessary understanding of the building information modeling (BIM) solutions market.

Building Information Modeling (BIM) Solutions Market – Segmentation

TMR’s research study assesses the building information modeling (BIM) solutions market on the basis of component, deployment, application, and, region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the building information modeling (BIM) solutions market.

Component
  • Software/Platform
  • Services
    • Consultation & Integration
    • Support & Maintenance
Deployment
  • Cloud
  • On-premise
Application
  • Water & Wastewater
  • Rail Transit & Aviation
  • Energy Generation Facilities
  • Roads, Bridges, and Highways
  • Houses & Apartments
  • Factories & Warehouses
  • Educational Institutes & Commercial Spaces
  • Government Buildings
  • Dams & Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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