A new report has revealed government regulations will grow the global BIM market by a fifth…
A new report has revealed the global Building Information Modelling (BIM) market will grow by a fifth over the next six years.
Allied Market Research has claimed the industry will hit $11.7bn by 2020. This will be driven predominately by government legislation pushing for BIM to be utilised more frequently on projects.
The World Building Information Modelling Market report said the growth projection was also based on demand within the sector, awareness of BIM, and a boom in the Asian property sector.
The construction sector has embraced BIM. In the UK new regulation have forced firms to become compliant in BIM Level 2 to tender for public sector contracts, and similar moves have been made in other global markets.
The report suggests construction remains an important driver of the technology and is the main consumer of BIM. By 2022 it is expected nearly 63 per cent of the global consumer market will be in construction.
The report noted cloud-based deployment is expected to grow at the fastest rate due to the easy accessibility and the cost effectiveness of it.
The market is also expected to be dominated by the software segment, which will have nearly a three-fourth market share by 2022.
The report concluded that “BIM has emerged as an ideal alternative to traditional CAD software, owing to its suitability over a variety of operational issues such as cost management, handling raw data and information and alignment of processes”.
