NEW YORK, Nov. 11, 2014 — (PRNewswire) — Building Information Modeling (BIM) is a process of generating and managing data of building or non-building objects related to different industries such as commercial, educational, residential, healthcare, industrial, entertainment, and sports during the entire life cycle of the project. Building information modeling is emerging in both developed and developing countries, with relatively lower turnaround times in developing countries as building information modeling software is available at higher prices with respect to the concerned economy.
Coming to strategic focus areas for key players, the most important area to focus on would be technology innovations and new product developments rather than the existing product developments, as striving for product differentiation would boost a player ahead in the race in the current scenario. A focus on industry relations with OEM giants, pure technology solution providers, and software providers is the key to survival in the building information modeling ecosystem, while relations with the government or private legislative and regulating bodies, special focus included if they are customers, are a must in the construction industry.
The scope of this report is the building information modeling market, including the software and services market. Thus, the term building information modeling market and its statistics, wherever mentioned, refer to the markets for software and services of the building information modeling process in seven major application verticals – commercial, residential, educational, industrial, healthcare, entertainment, sports, and others
The building information modeling market is expected to grow from $2640.12 million in 2013 to $8646.47 million by 2020 at a CAGR of 16.72%. Newer applications and uses are continuously being devised for this technology, which will further propel the market in the coming five years. This growth is expected due to the growing industrial sector for the building information modeling market.
Players involved in the development of the building information modeling market include Archidata Inc. (Canada), Asite Solutions Pvt. Ltd. (U.K.), Autodesk, Inc. (U.S.), Beck Technology Ltd. (U.S.), Bentley Systems, Inc. (U.S.), Dassault Systèmes S.A (France), Design Data (U.S.), Nemetschek AG (Germany), Solibri Inc. (New Zealand), and Trimble Navigation, Ltd. (U.S.).
Three major aspects of the complete market are covered in this report, which are market analysis, market classification, and market landscape. Market analysis includes market overview and industry analysis along with market dynamics and additional qualitative analysis. Market classification encompasses segmentation and sub-segmentation of the market by end-users, types, applications, and geography. Lastly, the market landscape entails the detailed competitive landscape and company profiles of all the key players across the ecosystem.
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