Technology News & Trends

  According to a new market report published by Transparency Market Research   “ Building Information Modeling (BIM) Market  (Solution – Software, Consultancy Service; Software Solutions – On-premise Software, Cloud-based Software; End-user – Architects, Contractors, Engineers, Developers) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027 , ”  the global BIM market was close to  US$ 5 Bn  in  2019  and is forecast to reach  US$ 15.5 Bn  by  2027 , expanding at a CAGR of  14.7%  from  2020  to  2027.  North America & Europe are the largest market for BIM in  2019  and collectively accounted for more than  50%  revenue share. Growth in these regions is expected to be driven by increases in construction activities and the penetration of cloud-based services for BIM software. Building information modeling (BIM) is considered to be beneficial and techni...

Rise in awareness of benefits of information modelling for buildings, especially across construction sector, has seen significant traction in demand for   BIM software solutions and services . Favorable changes, such as policy updated by UK government for time bound transition to Level 2 BIM and subsequently Level 3 BIM, has seen larger construction companies implementing the same as part of their business strategy, with penetration reaching close to  70% . Likewise, countries such as Peru, Chile, Italy, Brazil, Canada, and Qatar have BIM mandates in place or are planning to adopt the same in near term, all supporting the market growth. According to a new market report published by Transparency Market Research   “Building Information Modeling (BIM) Market (Solution – Software, Consultancy Service; Software Solutions – On-premise Software, Cloud-based Software; End-user – Architects, Contractors, Engineers, Developers) – Global Industry Analysis, Size, Share, Gro...