Harrisburg, NC -- (SBWire) -- 10/28/2020 --The Building Information Modeling (BIM) Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Building Information Modeling (BIM) Market: Nemetschek, Autodesk Inc., Bentley Systems Incorporation, Trimble Navigation Limited and others.

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Executive Summary:

Building Information Modeling (BIM) refers to virtual or digital representation of a building or a non-building, embedded in it, its physical and functional characteristics. In other terms, BIM is a software technology, which has made 3D, 4D and 5D virtual view of a building before it actually goes on the ground. The elements of the virtual building are the digital prototype of the physical building elements such as walls, columns, windows, doors, stairs, etc. Any aspect of design performance can be simulated and assessed before it is built; thus enabling modifications in the design, making it clearly understandable. The computer generated models need precise geometry and data to support the construction, fabrication and procurement activities through which building is realized. BIM models are accessible through mobile/PCs/smartphones.

BIM is used for 3D coordination, prefabrication, record models, etc. The BIM enables collaboration among owners and design firms, reduction of rework, cost and errors, reduces the project duration and faster client approval on designs. BIM can be segmented by end user, deployment and verticals which can further be classified respectively. There are a plenty of BIM modeling tools, such as BIM authoring tools, BIM tools for shop drawing and fabrication and BIM construction management and scheduling tools.

The global BIM market has increased over the years and is expected to grow significantly during the years 2019-2023. The global BIM market is expected to increase due to rising expenditure and investment in construction industry both residential and non-residential, increasing digitization in construction sector, growing IT investment in construction and increasing governmental adoption of BIM by several nations. Yet the market faces some challenges, such as lack of definite regulation, lack of expertise in BIM and high costs, resistance to change on part of construction managers/contractors, social obstacles and problems of interoperability.

Integration of BIM with Internet of Things (IoT) technology, scope of Augmented and Virtual reality in the BIM market, evolution of 5D BIM and spike in mergers and acquisitions (M&A) activity are some of the latest trends existing in the market.

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Influence of the Building Information Modeling (BIM) Market Report:

-Comprehensive assessment of all opportunities and risks in the Building Information Modeling (BIM) market.
-The detailed study of business strategies for the growth of the Building Information Modeling (BIM) market-leading players.
-Conclusive study about the growth plot of the Building Information Modeling (BIM) market for forthcoming years.
-In-depth understanding of Building Information Modeling (BIM) market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Building Information Modeling (BIM) market.

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