Building Information Modeling Market: Market Shares, Trends, Top Key Players, Industry Overview

Building Information Modeling (BIM) Market by Type (Software, Services), Project life cycle (Pre-construction, Construction, Operation), Application (Buildings, Civil Infrastructure, Oil & Gas, Industrial, Utilities), Geography
 
 
Spread the Word
Listed Under

Tag:
Building Information Modeling

Industry:
Construction

Location:
Northbrook - Illinois - US

NORTHBROOK, Ill. - Oct. 15, 2018 - PRLog -- The building information modeling (BIM) market is expected to grow from USD 3.56 billion in 2017 to USD 7.64 billion by 2022, growing at a CAGR of 16.51% between 2017 and 2022. The key factors driving this market have been the optimized project performance and increased productivity; enhanced communication and coordination throughout the asset lifecycle management process in the construction industry due to adoption of BIM; and government mandates for the usage of BIM in several developed countries.

Among all the major applications of the BIM market, the industrial application is expected grow at a significant rate during the forecast period. Building information modeling provides digital prototyping analysis and simulation, thereby shortening the construction period while consistently improving productivity and reducing risks associated with construction projects in the industrial sector. This fact is expected to propel the growth of the Building information modeling market for industrial application between 2017 and 2022.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=95037387

The increasing costs of labors and materials in the construction industry are leading to the requirement of new processes, technologies, and solutions, which would consume lesser time and save money. BIM enables the virtual construction of a building in a 3D space, prior to the construction process. It also provides 4D (time) and 5D (cost) estimation of a project. This process enables users to discover interference- and construction-related problems before they arise, thereby saving time and money incurred in the production phase of a construction process. BIM increases a project's overall performance by providing 3D modeling and visualization; 3D coordination, prefabrication, construction planning, and monitoring; cost estimation; and record model. These features of BIM work as drivers for the growth of the BIM market.

Market Dynamics

Drivers


• Optimized project performance and increased productivity
• Enhanced communication and coordination throughout the asset lifecycle management process
• Government mandates for the usage of BIM in several developed countries

Restraints

• High costs of BIM software required for the execution of processes
• Long training periods decreasing the productivity of companies

Opportunities

• Growing demand for green buildings
• Need for integrated process for designing, collaboration, and coordination in the AEC industry

Challenges

• Lack of information and awareness about BIM

Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=95037387

The present market is dominated by the players such as Autodesk Inc. (U.S.), Nemetschek SE (Germany), Trimble Navigation Limited (U.S.), and Bentley System, Inc. (U.S.), among many others.

Contact
Marketsandmarkets
***@gmail.com
End
Source:Marketsandmarkets
Email:***@gmail.com
Tags:Building Information Modeling
Industry:Construction
Location:Northbrook - Illinois - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Research Reports PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share