The building information modeling (BIM) is a process involving the generation and management of digital representations of physical and functional characteristics of places. The building information models (BIMs) are files that can be extracted, exchanged or networked to support decision-making regarding a building or the other built asset.
Current BIM software is used by individuals, businesses, building and government agencies that plan, design, construct, operate, and maintain diverse physical infrastructures, such as water, refuse, electricity, gas, communication utilities, roads, bridges, ports, tunnels, etc.
Building information modeling is used in the construction industry for designing and managing projects throughout their life cycle. The overall value chain of the building information modeling market is closely interlinked with the traditional construction processes. They have been expanding rapidly and shaping into a strong, well-connected chain over the past few years.
Several new product developments and software models are witnessed owing to the application of building information modeling in various verticals. The building information modeling market is led by the construction in the commercial sector such as retail and office buildings.
High electricity usage in commercial buildings and the rise in energy costs have been driving the usage of buildings information modeling in construction for efficient power and improved electrical system design for reducing costs, decreasing wastage, and in the overall retrofit improvements.
Rapidly increasing number of constructions projects, globally rising awareness of BIM and associated benefits, and the increasing demand for automated models in architecture, engineering and construction (ACE) industry have been facilitating its adaptation in construction industry, especially for commercial and infrastructure projects. Moreover, government mandates regarding usage of BIM in building constructions would boost it in adoption worldwide.
Building information modeling market By End-Users: construction manager/general contractor, architect, engineer, owner, and others
Building information modeling market By Types includesoftware and services. Building information modeling market By Verticals include commercial, residential, educational, healthcare, entertainment, industrial, sports, and others.
Building information modeling market By Geographical Region include North America (U.S., Canada, and Mexico), Europe (England, Germany, France, Italy, and Spain), and Asia Pacific (China, South Korea, Japan, and Singapore), and Rest of the World (Middle East, Africa, and others).
Building information modeling (BIM) is expected to show steady growth in regions boosting easy access to the latest technologies and high strategic planning in the field of data management. Countries such as Australia, Canada, New Zeeland, France, Japan, South Korea, Brazil and England exhibit a high uptake of the BIM software.
Most of the countries have started adopting BIM solutions to boost infrastructural development. While the high initial cost incurred on these solutions emerges as a major drawback, with the advent of cloud-based software, the BIM market is forecast to witness widespread deployment.
North America and Asia Pacific have exhibited surging demand for BIM solutions. North America dominated the market in 2014. The increased adoption of cloud-based engineering software will boost demand for the BIM software in North America;
thus, sealing its position as the dominant regional market through the forecast period.
The Key Players include Pentagon Solutions Ltd, Beck Technologies Ltd, Dassault Systems SA, Tekla Corporation, Synchro Software Ltd, Bentley Systems Inc, Autodesk Inc, Nemetschek AG, AECOM, and GRAITEC.
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