BIM Market Growing Rapidly

BIM is a revolutionary technology that has transformed the architecture, engineering, and construction (AEC) industry.

It is a digital process that allows the creation and management of 3D models of buildings and infrastructure, which can be used for designing, constructing, and operating facilities.

BIM has gained a lot of traction in recent years, and it is estimated that the BIM modelling market size was pegged at $5205 million in 2019. Now, this figure is predicted to reach $15892 million by 2027, growing at a Compound Annual Growth Rate (CAGR) of 15% within the seven years.

The construction industry has been a laggard in technology adoption, but BIM is changing the scenario. The technology is gaining traction among construction firms and architects worldwide, as they realize the potential benefits of BIM, such as improved accuracy, reduced costs, and faster project completion.

Governments across the world have introduced regulations and policies that mandate the use of BIM in construction projects.

The United Kingdom was one of the first countries to introduce a BIM mandate in 2011, requiring all publicly-funded projects to adopt Level 2 BIM. Level 2 BIM requires all stakeholders to use a collaborative 3D model and share information in a standardized format. The UK government saw the potential benefits of BIM, including increased efficiency, reduced waste, and improved collaboration, and wanted to drive innovation and improve productivity in the construction industry.

Other countries followed suit, with Singapore introducing a similar mandate in 2013. The Singapore government’s BIM e-submission system requires all building plans and specifications to be submitted in BIM format. The mandate has helped to streamline the submission process and reduce errors, leading to a faster approval process and cost savings for the industry.

In the United States, the General Services Administration (GSA) mandated the use of BIM on all federally-funded projects in 2016. The mandate requires the use of BIM for design and construction documentation, as well as for operations and maintenance. The GSA’s aim was to improve the quality of construction and reduce costs by minimizing rework and increasing collaboration between stakeholders.

Another factor driving the growth of the BIM market is the increasing demand for sustainable and energy-efficient buildings.

BIM plays a crucial role in the design and construction of sustainable buildings, as it allows architects and engineers to simulate energy consumption, assess the environmental impact, and optimize building performance

Geographically, the BIM market is dominated by UK & North America, followed by Europe and Asia-Pacific. North America accounts for the largest share of the BIM market due to the presence of several leading BIM vendors, such as Autodesk, Bentley Systems, and Trimble, and the high adoption rate of BIM solutions among construction firms in the region.

Europe is one of the largest markets for BIM, driven by the increasing demand for sustainable and energy-efficient buildings and the growing adoption of BIM solutions in the region.

Asia-Pacific is also a significant market for BIM, driven by the growing construction industry in the region and the increasing adoption of BIM solutions among construction firms.

The BIM modeling market is expected to continue growing in the coming years, driven by the increasing adoption of BIM technology by AEC firms and the emergence of new applications of BIM.

As governments continue to introduce regulations and policies that mandate the use of BIM in construction projects, the adoption of this technology is likely to become even more widespread, leading to significant growth in the BIM modeling market size.

In conclusion, the BIM modeling market is poised for significant growth in the coming years, driven by the increasing adoption of BIM technology by AEC firms and the emergence of new applications of BIM.

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