ALBANY, New York, July 18, 2016 /PRNewswire/ --
The report is titled 'Building Information Modeling (BIM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022' and is available for sale on TMR's official website. According to the report, the global building information modeling market was valued at more than US$2.7 bn in 2014 and is expected to reach a valuation of US$11.5 bn by 2022.
Transparency Market Research (TMR) has announced the release of a new research report on the global building information modeling market. The report examines the current figures illustrating the performance of the global building information modeling market and presents forecasts based on sound analysis of the collated data. The market is comprehensively analyzed in the report for the benefit of readers, who will be able to formulate insightful strategies based on the information given in the report.
Building information modeling consists of preparing a 3D visualization of the architectural plan of a building. This allows engineers to make precise calculations regarding a wide range of variables, which helps boost the efficiency of the construction process. The improvement in the workflow achieved through the use of building information modeling is the primary driver for the global BIM market. According to TMR, the market is expected to exhibit a robust 19.1% CAGR from 2015 to 2022.
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Apart from the increased efficiency, building information modeling allows architects and engineers to get a clear idea about other factors such as the materials to be used in the construction, the time it would take to finish the project, and the number of laborers required for the project.
The global construction industry boom has given a major boost to the global building information modeling market in recent years. However, the high cost of the technology is a key restraint on the market, along with the need to keep updating the product regularly. This is particularly of note among small and medium-sized businesses, which often can't afford to utilize state-of-the-art technology.
By end use, the report segments the global building information modeling market into water and wastewater; rail and aviation; roads, bridges, and highways; government buildings; houses and apartments; factories and warehouses; energy generation facilities; education and commerce institutes; dams. Of these, rail and aviation took up a dominant share in 2014.
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Geographically, North America was the largest regional market for building information modeling in 2014, with a share of 33%. The advanced technological scenario of the region is responsible for the dominance of the North America market. However, in the coming years, Asia Pacific is expected to exhibit the fastest growth due to the expansion of the construction industry in countries such as India, South Korea, and China.
The report also examines the competitive dynamics of the global building information modeling market. Key players in the market are profiled in the report to shed light on the competitive hierarchy of the market. These companies include Autodesk Inc., Dassault Systemes AG, Synchro Software Ltd., Beck Technology Ltd., Tekla Corporation, Pentagon Solutions Ltd., AECOM, Bentley Systems Inc., and Nemetschek AG.
The global building information modeling market is segmented as:
BIM Market Analysis, by Solution Type
- Consultancy Service
BIM Software Market Analysis, by Type
- On-premise Software
- Cloud-based Software
BIM Market Analysis, by End Users
BIM Market Analysis, by End-use Industry
- Water and Waste Water
- Rail Transit and Aviation
- Energy Generation Facilities
- Roads, Bridges and Highways
- Houses and Apartments
- Factories and Warehouses
- Educational Institutes and Commercial Spaces
- Government Buildings
- Dams and Others
BIM Market Analysis, by Geography
- North America
- Asia Pacific
- The Middle East and Africa
- Latin America
Other Research Reports by Transparency Market Research:
- Intelligent Building Management Systems Market: http://www.transparencymarketresearch.com/india-ibms-market.html
- In-Building Wireless Market: http://www.transparencymarketresearch.com/inbuilding-wireless-market.html
- Photoelectric Sensors Market: http://www.transparencymarketresearch.com/photoelectric-sensors-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research