Exactitude Consultancy Press Release: Building information modelling market

The process of creating, storing, managing, exchanging, and sharing building information is known as building information modelling (BIM). BIM is a 3D rendering of a technical drawing, which includes a building’s plan, elevation, and section. It is a type of digital fabrication system where the real building model is created digitally using precise measurements. Realistic 3D models of buildings can be produced using BIM software, which makes it easier to spot Construction flaws, streamline building operations, and automate the building process. Building information management aids in the resolution of construction-related problems and minimises the costly and time-consuming changes that take place during construction activities.

The global Building Information Modelling market are estimated to increase at a 13.2% CAGR from 2021 to 2028. It is predicted to exceed USD 13.85 billion by 2028, up from USD 5.81 billion in 2021.

As a result of regular software updates, general contractors have been known to use BIM for more than just preconstruction model clash detection. Additionally, general contractors have started utilising the model for coordination, adding construction layout points, and bringing accuracy into the field using a complete robotic station. The progression shows the transition from 2D to 3D BIM in the design and construction sector, pointing to the rise of GIS and BIM integration into a single holistic environment that is expected to drive the Market.

Explore 130 market data Tables spread through nearly 85 Pages and in-depth analysis on “Building Information Modelling Market by Component (Software, Services) Deployment (On-premise, Cloud) Application (Commercial, Residential, Infrastructure, Industrial) End User (Contractor, Engineers & developers, Architects) And by Region, Global Trends and Forecast from 2022 to 2029 ” with Table of Content

Regulatory requirements for the use of BIM to create economic opportunity for major market participants.

The expansion of the construction industry and the increase in BIM usage regulations at the national and international levels both fuel market expansion. The development of the BIM industry is supported by laws and policies that encourage the use of BIM solutions in the construction of both public and private infrastructure in various fields. The majority of North American countries have made using BIM for commercial projects required.

Drivers and Restraints

Building information modelling will grow as a result of rapid urbanisation.

Building information modelling (BIM) users have a competitive advantage, and as a result, the market is growing on a global scale. This is due to better data transmission and coordination among numerous stakeholders as well as increased construction productivity. The global construction industry will advance as populations and economies grow and as there is a greater need for upgraded infrastructure for both domestic and international needs.

Building information modelling (BIM) users have a competitive advantage, and as a result, the market is growing on a global scale. This is due to better data transmission and coordination among numerous stakeholders as well as increased construction productivity.

The high implementation cost restricts the expansion of building and information market.

BIM implementation can require a significant upfront investment, particularly for smaller businesses. For some businesses, who might not have the resources to invest in the required technology and training, this can be a significant entry barrier.

The resistance to change among stakeholders in the construction industry is one of the biggest problems facing the BIM market. Due to implementation costs or lack of familiarity with the technology, many businesses are still using traditional construction techniques.

Businesses that benefit from BIM must invest in additional areas, ranging from vendor management to compliance issues. All of these systems must be streamlined to strengthen positive results and ignore any subsystems that might jeopardise the overall final outcome attained from the technology.

Building Information Modeling Market Players

The global building information modelling companies profiled in the report include Autodesk Inc., Asite Solution, Beck Technology Ltd., Bentley Systems Incorporated, AVEVA Group Plc, Dassault Systèmes, Hexagon AB, Nemetschek SE, Pentagon Solution Ltd., and Trimble Ltd. Mergers and acquisitions, joint ventures, capacity expansions, significant distribution, and branding decisions by established industry players to improve market share and regional presence. They are also engaged in ongoing R&D activities to develop new products and are focused on expanding the product portfolio. This is expected to increase competition and pose a threat to new entrants into the market.

Key Market Segments: Building Information Modeling market

Building Information Modeling Market by Component, 2020-2029, (USD Billion)

• Software
• Services

Building Information Modeling Market by Deployment, 2020-2029, (USD Billion)

• On-Premise
• Cloud

Building Information Modeling Market by Application, 2020-2029, (USD Billion)

• Commercial
• Residential
• Infrastructure
• Industrial

Building Information Modeling Market by End User, 2020-2029, (USD Billion)

• Contractor
• Engineers & Developers
• Architects

Building Information Modeling Market by Regions, 2020-2029, (USD Billion)

• North America
• Europe
• Asia Pacific
• South America
• Middle East And Africa

Important Countries in All Regions Are Covered

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