BIM Market – New example of Visual Interactive Modeling and Simulation for Construction Projects

With the vast rise in Infrastructure projects all over the world in the past few years, the focus on the use of digital tools to properly estimate cost and time required for a project has also risen. With ever increasing focus on cost and time values in the highly competitive construction industry, traditional 3D modeling tools such are AutoCAD, 3DMax, CATIA are being replaced by Building Information Modeling (BIM) solutions.

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Building Information Modeling (BIM) is a 3D visual representation of a technical drawing which includes the plan, elevation and section of a building. It is a kind of digital fabrication system in which the actual model of the building is digitally constructed with accurate values. Apart from 3D visualization, BIM also covers 4D and 5D which constitutes the time and costs involved in a project.

Architects, contractors and engineers are some of the prominent users of BIM solutions in most part of the world. Among the three, architects are the key user accounting for over 40% of these markets in 2015. Over the forecast period as well, the segment is projected to continue to have a strong influence on the overall development of the BIM market and exhibit growth at a remarkable pace across the world.

However, the use of BIM solutions across the contractor segment is expected to grow at a faster pace than the architect segment across India, Australia and New Zealand.

In terms of revenue, India is presently the leading market for Building Information Modeling Solutions, accounting for nearly 43% share in the overall revenue of the Australia, New Zealand, and India.