Europe Building Information Modeling Market- Forecast (2018-2023)
Posted by Venkatesh on November 13th, 2018
According to the new market research report by IndustryARC titled “European Building Information Modeling MarketBy Type (Software, Services), By End-User (Architects, Engineer, Owners), By Vertical (Commercial, Residential, Educational) & By Country (Austria, Germany & Switzerland) - Forecast (2018-2023)”, the market is driven by the increasing government and private investments from the developing economies in Europe, along with the government regulations mandating the adoption of BIM.
Contractors segment to dominate the Europe Building Information Modeling Market
In 2015, the contractor's segment reached 4.22 million. It is expected to reach$ 898.08 million by 2023 at a CAGR of 16.47% during the forecast period. Contractors can make use of BIM as a simulation of the actual project which ensures a better quality of the project. They access information through periodic drawings, reports, drawings, work schedules, and others. The growing adoption of BIM is a major shift in ICT (Information and Communication Technology) and digital construction procedures in the architecture and engineering construction sector. developments in information technology that allow the contractors to access more accurate visual information about the projects will enhance the growth of this segment in the coming years.
Selected Analysis done in the full Report:
The residential sector reached a revenue of 3.49 million by 2017. It is expected to reach a revenue of 4.69 million by 2023 at a CAGR of 10.19%. The residential sector consists of multi-family apartments, condos and independent housing constructions such as villas, mansions, bungalows etc. Building Information Modeling is an essential requirement for home constructors to compete in the residential market. Deployment of home building business that supports the BIM implementation in residential projects require a high initial investment for new software, training, or hiring BIM experts. The various software used in the residential sector include VisionREZ, Vertex BD, Envisioneer, ARCHICAD 19 Solo, SoftPlan, FreshBrix, and others.
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Excerpts on European Building Information Modeling Market Growth Factors
• The recent boom in the Public infrastructure and other renovation projects is driving the European Building Information Modeling Market.
• Emphasis to reduce construction failure and operational costs will pave the way for BIM in construction projects.
• There is a need for automated and digital models such as BIM, which aids to enhance the efficacy of the construction projects, and also reduce costs.
Key players of the European Building Information Modeling Market
Nemetschek AG and Autodesk are the dominant players in the European Building Information Modeling Market. Nemetschek AG provides solutions of computer-aided design (CAD) and computer-aided engineering (CAE) to architects, civil engineers, structural designers, design planners. Autodesk has acquired Delcam Ltd. (U.K.) to improve the business, better products,
Europe Building Information Modeling market is segmented as below
Growth of the construction sector and government regulations drive the growth of the European Building Information Modeling Market.
B. European Building Information Modeling Market By Industry Vertical
C. European Building Information Modeling Market By Geography (covers 4+ countries)
Companies Cited / Interviewed
What can you expect from the report?
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
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IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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About the AuthorVenkatesh
Joined: August 23rd, 2018
Articles Posted: 184
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