The Future of Technology-driven Construction Industry |...

The Future of Technology-driven Construction Industry

Posted 2023-10-26 10:21:05

SWOT Analysis

Strengths: BIM provides 3D visualization of designs before physical construction begins, which helps identify issues and resolve conflicts in the design phase. It offers collaboration benefits by facilitating information sharing across project stakeholders.
Weaknesses: Implementation of BIM requires high initial investment in software, training and setting up of relevant infrastructure. Lack of expertise and know-how also acts as a barrier for widespread adoption.
Opportunities: Growing construction industry globally is presenting significant growth opportunities for BIM vendors. Government mandates in countries to implement BIM for public projects are also opening up new avenues.
Threats: Interoperability issues between design authoring tools from different vendors can compromise workflow efficiency. Compatibility challenges also emerge from technology upgrades.

Key Takeaways

The Global Building Information Modelling Market Size is expected to witness high growth, exhibiting CAGR of 19.1% over the forecast period, due to increasing spending on infrastructure development across major economies.

The US dominates the regional market owing to large-scale construction projects and supportive government policies promoting BIM adoption. Growing retrofitting and renovation activities in the residential sector are also driving the US BIM market.

Key players operating in the Building Information Modelling market are Autodesk Inc., Nemetschek AG, Beck Technology Ltd., GRAITEC, Dassault Systemes SA, AECOM, Synchro Software Ltd., Pentagon Solutions Ltd, Tekla Corporation, and Bentley Systems Inc. Autodesk Inc. holds the leading market share supported by its flagship Revit and AutoCAD software offerings for architectural and MEP design.