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Published on : Jul 18, 2016

ALBANY, New York, July 18, 2016: A newly added report in the repository of ResearchMoz.us offers a brief summary of the use of building information modeling (BIM) in the global construction market. As per the findings of the study, BIM is expected to become a major part of the future of the global construction industry. Even though the implementation of building information modeling is in its developmental stage, the application of BIM is consistently increasing. Various components of the global construction market, such as architects, technology suppliers, surveyors, and contractors are increasingly using BIM, state the analysts. 

The report, titled ‘Market Insight - Building Information Modeling (BIM) in the Global Construction Market,’ predicts that the adoption of BIM across the worldwide construction industry is increasing due to the acknowledgement of its several benefits. The operational efficiency and cost saving achieved by the use of building information modeling are two of the primary factors expected to drive the demand for BIM in the construction industry. Building information modeling processes enable comprehensive planning, scheduling, cost management, quality improvement, and improved visualization of construction procedures.    

After offering insights into major restraints and drivers, the report further focuses on the key companies adopting BIM. To obtain the findings of the report, more than 100 companies were surveyed to better understand the uptake of BIM processes by contractors, architects, and civil engineers. As per the findings, 41% of the organizations do not currently use BIM, whereas 29% do. 20% of the organizations are planning to know about BIM, while the remaining 10% are expected to use it in the next few years. Thus, it is clear that the adoption of BIM is growing in the construction market. 

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As building information modeling becomes more popular in the global construction market, more organizations are expected to acknowledge its benefits, leading to an increasing demand and consequently, the market entry of several new players. With this, the BIM market in the global construction industry is expected to become highly competitive. The increasing use of BIM and the rising funding to improve BIM are two of the major factors that can be credited for its success in the global construction industry. BIM minimizes errors and assures timely delivery of projects. All these factors are predicted to motivate more contractors and architects to use BIM in their projects. However, the lack of awareness and understanding about BIM processes at present will adversely affect the building information modeling in construction market.

After focusing on the current scenario, the report highlights the upcoming trends regarding BIM in the global construction market. The advent of cloud computing has helped increase the adoption of BIM. Many organizations are using cloud-based platforms to store BIM information, which can be used by anyone in the future. BIM processes have now become nearly impossible to ignore for organizations operating in the construction market. The rising need for collaboration across project participants and various disciplines has motivated many companies to adopt building information modeling processes. Benefits such as risk reduction and asset sustainability have made BIM processes more effective and thus popular among construction industry players.  

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