Absolute Markets Insights offers its latest published report ‘Building Information Modeling Market by Solution (Software (On premise and Cloud based) and Services); by Application (Commercial, Residential, Institutional, Industrial and Infrastructural); by End User (Architect, Contractor, Facility Manager and Others); by Region (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 - 2026’.
The author of the report analyzed that the global building information modeling market accounted for US$ 4730.8 Mn in 2017. This is due to global acceptance and implementation of building information modelling to increase the overall productivity of the project.
The recent rise and adoption of modern approach in the construction industry is fueling the growth of building information modelling market. The product not only provides accurate results but also reduces the expenses making it more appealing for the companies. The market is expected to accelerate in the forecast period owing to its reliability as governments across several countries are making its usage a compulsion for the organizations.
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Commercial Application Segment is Holding the Maximum Market Share during the Forecast Period
Commercial application is currently dominating the market due to its increasing innovation in terms of design. Building information modelling uses data input by designers, architects, engineers and builders to create a digital 3D model of the finished product. It provides a virtual reality complete with scaled replicas of the actual pieces used to construct a building, like windows, doors, and HVAC systems. This function enhances the final product and also consumes less time thus accelerating the building information modeling market growth.
Asia Pacific is Anticipated to Have a Significant Share in the Forecast Period.
Asia Pacific is considered as the most attractive market in the forecast period. This is due to increasing infrastructural projects to boost deployment of BIM for bridges, roads, and highways construction. Adoption of BIM among contractors is also anticipated to surge considerably in the forthcoming years. However, the government initiatives to ease the business regulations in countries like India is also further accelerating the market. In October 2017, Aecom a Hong Kong based company is rolled out a programme across the Asia-Pacific region to train all its architects, engineers, designers, planners in BIM within two years.
Building Information Modeling Market is Consolidated in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in the market include Autodesk Inc., AVEVA Plc, Bentley Systems Inc., Dassault Systems, Hexagon AB, Trimble Inc., ARCHIBUS Inc., Archidata Inc., Beck Technology Ltd., and Nemetschek SE. amongst others.
In June 2014, Autodesk acquired Shotgun, a software company that makes project management & pipeline tools to help creative studios track, schedule, review, and collaborate digital assets. The acquisition provided Autodeak , a cloud-based production management solution that enabled digital studios to track, schedule, review, & collaborate on projects and images.
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Building Information Modeling Market - By Solution:
- Software
- On-premise
- Cloud Based
- Services
- Market By Application:
- Commercial
- Residential
- Institutional
- Industrial
- Infrastructural
- Market By End User:
- Architect
- Contractor
- Facility Manager
- Others
- Market By Region:
- North America
- U.S.
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Brazil
- Rest of Latin America
Purchase the complete report titled “Building Information Modeling Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 - 2026” at https://www.absolutemarketsinsights.com/reports/Building-Information-Modeling-Market-2018-2026-62
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