The report forecasts the global BIM software market to grow at a CAGR of 17.04% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
3D laser scanning technology captures dimensions with accurate details, which assists in the BIM procedure. Architectural firms, developers, builders, and real estate agents widely use this in their construction projects for detailed documentation such as project scheduling, planning, coordination, cost estimation, sustainability, and facility management. 3D scanning is transforming the AEC industry. Some of the vendors, that provide BIM with 3D laser scanning are Trimble and Autodesk.
According to the report, the inability to complete the construction projects on time and within the budget are the major problems faced by the construction industry. Inefficient project planning and scheduling, lack of contractor experience, improper site management and supervision, and delayed delivery of materials are some of the challenges that consume time in the construction projects. The implementation of BIM software can eliminate all these problems, save time, and enhance productivity as it reduces rework and dependence on paperwork. It also automatically updates the data and design changes in the project.
Further, the report states that technological advances in the market have led to the introduction of several open-source solutions. Open-source software can be downloaded and run on all platforms, and it is posing stiff competition to commercial BIM software. The increasing adoption of open-source solutions is reducing the revenue of the vendors. Since the purchasing and licensing costs of BIM software are high, many micro and small-scale organizations prefer open-source products. There are different categories of open-source BIM software available in the market.