As Construction Industry Strengthens, BIM Market Grows at Record Pace

Building Information Modeling or BIM has been growing at such a fast pace. It is, after all, efficient to adopt new 3D imaging technologies to guarantee project success — and that attracts a lot of construction companies. With growth as stellar as it has ever been, building information modeling companies should feel the robust demand.

Record Growth

The construction industry is experiencing massive growth itself, boding good fortunes to BIM providers. Based on the most recent report by Market Research Future, experts expect the global BIM market to skyrocket with a compounded yearly growth of 16% from 2016 to 2022. In 2022, the market is projected to reach $11 billion, up from $4 billion in 2016. Surpassing all previous records, it would be the first double-digit growth in its history.

The past few years saw building information modeling providers gaining ground from increasing demand for software solutions for physical structures like buildings, roads, and dams. Another growth factor is that many construction companies benefit from a vibrant economy and other technological advancements.

Revolutionary Technology

Revolutionary as it is, BIM enables project tasks to reach goals via wide-ranging functionalities that are low-risk and easy to control. Industry professionals can use BIM in planning and designing, construction, and maintenance of infrastructures.

BIM is perfect for any construction project, including mega-projects like railways, residential communities, and road systems. The ease of obtaining digital databases of construction sites allows architects and builders to make modifications to existing designs. In turn, project tasks — from construction to maintenance — get to be more adaptive to potential changes, lessening costly rework.

BIM is growing as the demand for better infrastructure keeps on. With new trends coming such as stricter building safety regulations, the adoption of BIM can only get busier.