Global BIM Market share & size to grow US $10.36 billion by...

Global BIM Market share & size to grow US $10.36 billion by 2022

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Image Courtesy: Autodesk

US: Zion Market Research has published a new report titled “Building Information Modeling (BIM) Market by Solution (Software & Services), by End-Users (Architects, Contractors, Engineers and Others) for Industrial, Commercial, Residential, Infrastructure, and Institutional: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, global demand for building information modeling market was valued at around USD 3.52 billion in 2016 and is expected to reach approximately USD 10.36 billion by 2022, growing at a CAGR of slightly above 19.45% between 2017 and 2022.

Building Information Modeling (BIM) is an intelligent 3D model-based process that gives architecture, engineering, and construction professional’s insight to more efficiently plan, design, construct and manage buildings or infrastructure. Different benefits offer by this modeling technique is giving traction to the BIM market. The major benefit of BIM is that it can be accessed by multiple users from a different location on the same document. Conventional building design largely relies upon two-dimensional technical drawings. Building information modeling extends this beyond 3D, augmenting the three primary spatial dimensions with time as the fourth dimension (4D) and cost as the fifth (5D).  It covers spatial relationships, geographic information, light analysis, and quantities and properties of building components.

Browse through 42 Tables & 34 Figures spread over 110 Pages and in-depth TOC on “Building Information Modeling (BIM) Market by Solution (Software & Services), by End-Users (Architects, Contractors, Engineers and Others) for Industrial, Commercial, Infrastructure, Residential and Institutional: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022”.

By region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America has the highest contribution in global BIM market followed by Europe and Oceania and continues. Several countries are still at the very beginning stage of developing and deploying their own BIM strategies. In Europe, Spain’s provisional timetable for mandatory BIM implementation on public sector projects is now a reality by March 2018. In France, the ongoing adoption of BIM has already begun with the set goal of having 2017 to be the year when BIM is anticipated to streamline all public sector projects. In Germany, the government is playing a cog role in promoting the BIM strategy for implementation of BIM on all infrastructure projects by 2020 and forward in building construction.

BIM has been rapidly adopted by Asia Pacific region due to growing awareness in emerging countries such as China, Japan, and India. Chinese contractors and architects are largely implementing the BIM software due to better design solution and reduced error. The large architectural and construction organizations in China generally have more BIM experience than their smaller peers, and more of them plan to use BIM on a higher percentage of their projects which will boost demand of BIM market in China. Strategic partnership is also with companies from different regions are giving traction to the BIM market. For instance, in 2013 Tata Consulting Engineers and Autodesk announced a strategic partnership for BIM to deliver industry solution experiences to customers in the plant, infrastructure, construction and building sectors.