Some of the key competitors in the BIM market are Beck Technology Ltd., AECOM, Telka Corporation, Bentley Systems, Inc., Autodesk, Inc., Dassault Systemes SA, Synchro Software Ltd., GRAITEC, Nemetschek AG, and Pentagon Solutions Ltd. The market appears to be consolidated, with a low degree of competition, states Transparency Market Research (TMR). The market is a blend of regional, large, and mid-level companies. The regional companies presently dominate the market, claiming as much as 60% of the total market. In 2015, the most prominent players such as Autodesk Inc., Dassault Systèmes SA, Tekla Corporation, and Bentley Systems, Inc., together accounted for 42% of the BIM market.
In 2015, the building information modelling (BIM) market in Australia, India, and New Zealand was estimated at US$214.0 mn. According to the findings of TMR, the market will expand at a favorable CAGR of 22.3% during the forecast period of 2016–2024, attaining a revenue worth US$1,335.3 mn by the end of 2024. In terms of region, India emerged as the dominant market with a share of 42.6% in 2015. In the same year, the on-premise building information modelling segment led the market with a share of 87% in terms of revenue. However, in the forecast period, cloud-based BIM solutions are to lead the market due to their comparative low cost, predicts TMR.
Government Policies Encouraging BIM Adoption to Continue Market Expansion
Since countries such as Australia, India, and New Zealand have been witnessing tremendous growth in infrastructural activities, the need for digital equipment has been rising considerably. Over the coming decades, the building information modelling market is projected to expand significantly on account of encouraging government policies and construction activities in the regions of New Zealand, India, and Australia. One such policy in New Zealand was the establishment of BIM Acceleration Committee in 2014, in order to foster co-operative associations between the stakeholders in the construction sector and government bodies. Construction of bridges, highways, and roads across developing nations will further increase the scope of the BIM market.
High Costs Remain a Major Challenge to Overcome
Inadequate number of skilled professionals and high costs of software appear to be the major challenges faced by the BIM market in India, New Zealand, and Australia. According to TMR, the initial cost of BIM software is estimated between US$6,000 and US$10,000. Also, additional charges for maintenance and installation of software are to be paid. Low-scale developers and contractors hesitate to adopt BIM due to this reason. Moreover, it is assumed by some that returns on BIM investments are unproductive, lessening the scope for gaining more profit. All these factors are obstructing the adoption of BIM software in India, Australia, and New Zealand.
The information presented in this review is based on a Transparency Market Research report, titled, “Building Information Modelling Market - Australia, New Zealand and India Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024”
Key segments of the Building Information Modelling Market
Building Information Modelling Market Analysis, by Solution
- Professional & Consultancy Service
Building Information Modelling Market Analysis, by End-use Industry
- Water and Waste Water
- Bridges, Roads and Highways
- Rail, Transit, and Aviation
- Energy Generation Facilities
- Houses and Apartments
- Factories and Warehouses
- Educational Institutions and Commercial Spaces
- Government Buildings
- Healthcare Infrastructures
- Dams and Others
Building Information Modelling Market Analysis, by End-user
Building Information Modelling Market Analysis, by Country
- New Zealand
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