The building information modelling market segmentation by type is divided into solutions and services. The services segment includes tools for 3D modeling, clash management, visualization, scheduling, layout, production control, change management, and others. Segmentation of the building information modelling market by deployment type is bifurcated into cloud-based and on premise solutions. Adoption of cloud based solutions among SMEs is expected to experience a high growth owing to the cost effectiveness and ease of access. On premise solutions offer security and privacy of project data but is comparatively more expensive and requires frequent software upgrades.
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Rising penetration of the technology requires a highly-specialized skillset, which tend to hamper building information modelling market growth Application of the technology requires training & costs and time allocated to the training of labor is high. The perceived cost of implementing building information modelling technology is very high and as a result many businesses are hesitant to adopt it into their business operations despite its benefits. Additionally, the development of such technology requires highly specialized labor that can hinder the growth of the building information modelling market.
Building information modelling market can be segmented on verticals include commercial, industrial, institutional, residential and infrastructure. The commercial and industrial segments are predicted to witness significant demand during the forecast timespan. It is attributed to the rising government regulations mandating the use of the software. Additionally, digital prototyping analysis and simulation aid in shortening the time required to complete the designing and construction of the project while boosting the productivity and lowering the risk associated with it.
Project life cycle segmentation of the building information modelling market comprises of pre-construction, construction and operation segments. The pre-construction segment is anticipated to dominate the industry since usage of these software during this stage boost efficiency and reduce the threat of making a critical error.
U.S is anticipated to dominate the building information modelling market owing to the government regulations and rising awareness of its benefits among the contractors and constructors of commercial buildings. Rapid industrialization in emerging economies, for instance China and India, is expected to increase the building information modelling industry growth in the Asia Pacific region.
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Companies in the building information modelling market include Beck Technology Ltd., Nemetschek Group, Autodesk Inc., Trimble Navigation Ltd, Asite Solutions Ltd, AECOM, Bentley Systems, Dassault Systems SA, and Pentagon Solutions Ltd. Players operating in the global marketplace need to adopt business strategies such as mergers, acquisitions and partnerships to capture market share and strengthen their foothold. In December 2016, Software provider Nemetschek SE had announced its acquisition of dRofus. This was done to strengthen Nemetschek Group’s international hold which focuses on innovations such as Open building information modelling.
Methodology used in the Report –
Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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