Building Information Modelling Market Prospering on Upcoming Smart Cities

Global Building Information Modelling Market: Demand Analysis and Growth Forecast 

Accuracy and precision is intrinsic for the development of residential complexes, commercial spaces, tunnels, elevations, waterways, and other physical infrastructures. Moreover, laying the foundation for an infrastructure is a complicated task. Evolvement in the integrated project delivery methods and construction management marked the introduction of Virtual Design Concept (VDC) including virtual building information, which exceptionally helps in forming mechanical, electrical, and plumbing (MEP) designs and blueprints for a building.

 

According to the Institution of Civil Engineers (ICE), the global construction market will grow by 85% to reach $15.5 trillion by 2030 owing to the rapid developments in the U.S., India, and China. This ecstatic market will require an in-depth planning and forethoughts which will persuade mounting profits for the Global Building Information Modelling Market. The presented data reverberates to the business findings from the IndustryARC report that suggests the global building information modelling market size was $3864.8 million as of 2018. Although the market value does not humongous, but as per the analyst, the market is growing at an impressive CAGR of 10.88% during the forecast period of 2019 to 2025.

The North American region dominated the global building information modelling demands in 2018 with 38% of the total demand share. The construction growth is expected to tilt towards the southern parts of the region, reflecting the area’s superior catch-up potential and greater population tumour. As per the Global Construction 2030, the United States construction will rise faster than China in the coming years, escalating at an average of 5% per annum. 

After an acute analysis of the application segment,  infrastructures is the most profitable sector for the building information modelling market, growing at an exuberant CAGR of 13% to 14% through the aforesaid forecast period. Development of infrastructure to support the globally increasing railways and road network is augmented to withdraw huge profits for the global building information modelling market.

Some of the key companies identified in the report that are currently holding majority shares in the global building information modelling market are AutodeskInc., ABM, Europe Atkins Bentley System Inc., BIM Technologies, Dassault Systemes, S.A., Deutsche, Bahn, AG Faithful+Gould, Siemens, AG, Trimble Inc., Nemetschek AG, Intergraph, and Aveva Asite Ltd.

3D Printing In Construction Market: By Printing Material (Concrete, Plastics, Metals, Others); By End-use (Commercial, Residential, Industrial & Space); By Printing Technology (Fused Deposition Modeling (FDM), Stereolithography (SLA) and Digital Light Processing (DLP), Selective Laser Sintering (SLS), Selective laser melting (SLM), Others); By Application (Concept Models, Visual Arts, Tooling, Functional Models); By Construction Type (Buildings, Bridges, Walls, Domes, Beams, Girders, Viaducts, Sound barriers, Abutments, Balconies, Others); By Geography - Forecast (2018-2023)