Building Information Modeling (BIM) Market worth $7.64 billion by 2022 | Key players include Autodesk Inc., Nemetschek SE, Trimble Navigation Limited and Asite Ltd.
According to the new market research report "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 - Global
Forecast to 2022", The building information modeling market is
expected to grow from USD 3.16 billion in 2016 to USD 7.64 billion by 2022, at
a CAGR of 16.51% during the forecast period.
Building information modeling (BIM) refers to the process
that involves digital designing, documentation, and representation of building
and infrastructure plans. BIM can be implemented with the help of various
software and services available, which are adopted at different stages of a
project life cycle, such as pre-construction, construction, and operation.
The objectives of the report includes forecast of the BIM
market size in terms of value for BIM software and services, Project life cycle
(Pre-construction, Construction, Operation), Application (Buildings, Civil
Infrastructure, Oil & Gas, Industrial, Utilities), and Geography.
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The market for BIM services to grow at the highest CAGR
during 2017–2022
The market for BIM services is expected to grow at the
highest CAGR during the forecast period. BIM services comprise architectural,
structural, and MEP modeling; these services also include the provision of
cloud to BIM services and infrastructure modeling to architects, engineers,
general contractors, and developers. These services help in estimating costs as
well as the requirement of materials and their quantity. Services are provided
according to the project types and requirements for commercial, residential,
healthcare and other buildings.
The BIM market for industrial applications to grow at the
highest rate during forecast period.
Among all the major applications of BIM market, industrial
applications is expected to grow with the highest CAGR during forecast period.
Industrial buildings may specifically focus on process systems and equipment.
The equipment and systems that shape industrial buildings can be incorporated
with BIM. BIM precisely eliminates any chance of miscommunication between the
owner and the builder, as the entire design model can be viewed clearly. The
market growth can be attributed to the rapid industrialization and the rising
awareness about the advantages of adopting BIM for industrial facilities in the
developing countries such as China and India in APAC.
North America to hold a major share of the BIM market in
2016
North America is expected to dominate the BIM market during
the forecast period. In North America, the BIM market is well established, and
the constructors and contractors in the region are well aware of the benefits
of this process. BIM is widely used for institutional and government projects
in the U.S. In Canada, a BIM standard for building smart Canada has been
developed for architecture, engineering, and construction owners and operations
(AECOO) community to improve its performance and contribute more effectively to
the societal, environmental, and economic development of Canada, which is
boosting the use of BIM in the region, to benefit from its implementation.
Autodesk Inc. (U.S.), Nemetschek SE (Germany), Trimble
Navigation Limited (U.S.), Bentley System, Inc. (U.S.), Asite Ltd. (U.K.),
AVEVA (U.S.), RIB Software AG (Germany), Dassault Systèmes (France), Archidata
Inc. (Canada), Intergraph Corporation (U.S.), Beck Technology, Ltd. (U.S.), Computers
and Structures, Inc. (U.S.), Robert McNeel & Associates (U.S.), and Cadsoft
(U.S.) are some of the major companies dominating the BIM market.
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