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I will be reviewing the current state of the Global Building Information Modeling Market, discussing some of the leading companies in the space, and touching on some challenges we’re likely to see in the future, especially as companies look to go global and provide solutions to large multinational corporations and public sector organizations. The following information will also serve as a guide on how you can take advantage of BIM and get ahead of your competition before everyone else catches on. Let’s jump right in!
The BIM market is segmented into four categories: BIM users, vendors, solution providers and end-users. Currently, there are more than 70% of BIM users globally who are involved in modeling only. Vendors play a crucial role in creating and providing tools and solutions to assist with tasks that help in BIM implementation for both public and private sectors. More than 60% of these models are created by large companies or consultants/contractors. End-users mostly use BIM because it provides greater project management visibility and control over building information. Thus it gives enormous cost savings during construction phase when compared to traditional methods of building.
In terms of geographic breakdown, North America has been projected as largest region followed by Europe due to increasing demand from investors towards infrastructure projects such as highways, railway tracks etc.,
The building information modeling market is expected to be valued at £8.88 Billion by 2021, growing at a CAGR of 5.95% from 2016 to 2021. The surge in adoption and investments for BIM in emerging markets such as India, China, South Africa and Brazil will drive growth during forecast period. Adoption of BIM in various industries including construction and facilities management has encouraged its growth in recent years. Adoption of BIM technology improves quality, increases speed to market for projects, reduces operational costs, reduces overall schedule duration and increased project risk management throughout delivery life cycle phases leading to significant cost savings. However, limited awareness and technical expertise are major factors restraining BIM adoption globally.
BIM integrated design and construction supports projects as a collaborative endeavor between architects, engineers, contractors, and other stakeholders. An integrated approach to building design saves time and money throughout every phase of construction while improving operational performance. With an integrated BIM approach to designing buildings, users can collaborate across all project phases resulting in better designs that save both time and money with fewer changes once construction begins. The integrated model also provides designers and constructors a more accurate basis for estimating budgets on any given project. As more companies adopt industry standards like IFC (Industry Foundation Classes), early adopters have already seen significant benefits from integrating BIM into their day-to-day business operations. Companies that have adopted IFC say they have streamlined workflows which helps them manage complex projects faster than ever before.
As a relatively new technology, BIM adoption is still in its infancy. With several major benefits and an overall positive outlook, there’s no doubt that BIM will continue to rise in popularity. However, there are several challenges and risks involved in adopting BIM technology; namely security concerns and a variety of possible issues related to implementation timeframes. It may be quite some time before BIM reaches widespread adoption rates across all industries, but it does present significant advantages for those willing to take on some short-term inconveniences or risk factors for long-term gain. The key question is whether your organization wants to weather through these growing pains now or wait until they become less serious and perhaps longer-lasting as BIM becomes more prevalent. If you want to get ahead of things and reap some rewards in the coming years, you need only stay apprised of current trends and updated knowledge about current best practices; BIM might just be your answer.
While the building industry is reaching a tipping point, we still have work to do to reach full maturity. This year’s BIM in Practice survey highlighted that many firms are just getting started with BIM adoption. In an environment where more than 50% of respondents report using BIM, there’s still a lot of room for improvement before we see widespread adoption of BIM as an essential part of business. Despite these challenges, our most recent research on development project spending confirms that interest in and demand for software tools and services based on BIM technology continues to grow at rapid rates. And it’s not hard to see why; by providing enhanced levels of productivity, efficiency, quality and collaboration among stakeholders throughout all aspects of design and construction delivery processes, BIM delivers real value—and it can help organizations achieve their business goals. Join us as we explore how these trends are shaping both today’s Building Information Modeling markets and tomorrow’s technology solutions from Autodesk…
For more information how on we can help with BIM requirements on your project. BIM Outsourcing helped no of project implement BIM as per BIM Execution Plan and project specific requirements. You can call us on 01622 – 296277 or alternatively email us at [email protected]
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