Transparency Market Research Report Added "Building Information Modeling Market" to its database.
Albany, NY -- (SBWIRE) -- 03/24/2015 -- The global building information modeling market is primarily propelled by widespread implementation of government mandates that promote the use of building information modeling, rising popularity of green buildings in the market, greater production efficiencies, and higher focus on cost effectiveness. In fact, the two main factors that govern the performance of this market are higher production efficiency of a particular project and cost effectiveness. With the help of building information modeling (BIM), developers get a certain idea about the required cost which as a result aids in effective financial management.
Also, project management techniques enable construction managers and developers to chalk out multiple activities in an efficient manner. Building information modeling (BIM) helps in the execution of processes namely, designing, simulation, visualization, and collaboration during the construction of structures and buildings. Various players operating in the BIM market offer varied building information modeling (BIM) solutions in services and software models for catering to the individual requirements of the clients.
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Maintenance of 4D Data Ensured by Building Information Modeling
The global building information modeling (BIM) market segmentation is based end-users, applications, and geography. The products offered by building information modeling (BIM) companies are software and services. Services mainly include software support and maintenance, and project management support. Contractors, building product manufacturers, developers, facilities managers, and architects are the various end-users of the global BIM market. Based on applications, the global building information modeling (BIM) market is categorized into sports, entertainment, industrial, commercial, healthcare, residential, and educational. Building information modeling (BIM) objects help in the maintenance of digital data that is needed for the communication of several project-based decisions and plans in the area of construction.
The data that is embedded in building information modeling (BIM) can easily be used for managing the lifecycles of construction projects via integrated tools. Data is categorized into 3D, 4D, and 5D modeling since building information modeling (BIM) is mostly used for maintenance of data that pertains to several aspects of project management. Just like CAD (Computer Aided Design) and Auto CAD (Computer Aided Design), building information modeling (BIM) holds 3D data that is used for simulation and visualization of the full project. In addition, BIM also helps in the maintenance of 4D data that involves capabilities in time management such as maintaining the schedules of weekly and daily activities during the course of the projects.
Inflow of New Market Entrants to Propel the Global Building Information Modeling Market in the Forthcoming Years
From the regional perspective, the global BIM market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). The building information modeling (BIM) is an emerging trend in both, developing and developed economies. However, on a comparative note, the turnaround time of building information modeling (BIM) is lower in developing countries as against the developed countries. This is so because the software for building information modeling is available at steeper prices with regard to the particular economy.
It is expected that the global building information modeling (BIM) market will grow substantially in the years to come, with an inflow of new market players that would primarily include providers of software and services. Owing to factors such as the growing popularity of BIM process and potential for further market expansion, the global building information modeling (BIM) market is expected to witness substantial growth during the forthcoming five years.
The most established companies operating in the global building information modeling (BIM) market are Dassault Systèmes S.A (France), Nemetschek AG (Germany), Trimble Navigation, Ltd. (U.S.), Solibri Inc. (Finland), Beck Technology Ltd. (U.S.), Asite Solutions Pvt. Ltd. (U.K.), Bentley Systems, Inc. (U.S.), Archidata Inc. (Canada), Autodesk, Inc. (U.S.), and Design Data (U.S.).
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