Building Information Modeling Market deals with development of virtual design and construction models for buildings using the BIM (Building Information Modeling) software.
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BIM is an intelligent 3D model-based process that gives architecture, engineering, and construction professionals the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure.
Before Building Information Modeling Market 3DMax, AutoCAD, and CATIA software were used for interior and architecture designing. The BIM in construction industry envisages virtual construction of a facility prior to its actual physical construction, in order to reduce uncertainty, improve safety, work out problems, and simulate and analyze potential impacts.
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Scope & Regional Forecast of the Building Information Modeling Market
Increasing demand for automation of technical drawing and database in the commercial and infrastructure construction boosts the growth of Building Information Modeling Market. The government is also encouraging the Building Information Modeling by mandating the use of BIM software in the commercial projects.
Booming real estate industry and growing awareness of the building information modeling benefits among architects and contractors would drive its adoption.
Cloud-based is the most revenue generating deployment type in BIM. Commercial and infrastructure construction industries are the leading end-user type in Building Information Modeling Market.
North America has the major share in the BIM market. Increasing constructional activities in India and China provide growth opportunities in Asia-Pacific.
High initial investment is required for Building Information Modeling. Hiring services of technical experts to develop this software incur additional cost, which is not affordable by most of the small scale contractors and developers.
Being a critical system, there is a lack of technical experts of BIM and these factors hinder the Building Information Modeling Market. However, inclusion of training programs mitigate the issue of lack of technical skills and shifting to a cloud infrastructure helps the market overcome problems associated with the high cost of software.
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Segmentations & Key Players Involved in the Building Information Modeling Market
The Building Information Modeling Market can be broken down into various segmentations on the basis of –
- Solution: Software(On premises, Cloud-based), service
- End-user : Architect/Engineer, Contractor and others
- Vertical: commercial, residential, infrastructure, institutional, industrial
- Geographical Location : North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (LAMEA)
Some of the key players involved in the Building Information Modeling Market are as follows:
- Beck Technology, Ltd.
- Autodesk, Inc.
- Dassault Systemes SA
- Trimble Navigation Ltd.
- Synchro Software Ltd.
- Pentagon Solutions Ltd.
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