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The rising demand for BIM to enhance the performance of projects and result generation in the construction industry is augmenting the market growth. With the increasing attempts by the construction industry to enhance energy effectiveness and reduce carbon footprint, the adoption of BIM is surging, hence significantly contributing to the market growth. Moreover, the integration of the Internet of things (IoT) in BIM to simplify data generation, capture real-time data, and augment the design process, among others, is invigorating the industry growth. As renovation and refurbishment activities in the construction sector are increasing, BIM is increasingly utilised to refurbish existing buildings efficiently, which is providing further impetus to the market growth. In addition, the growing investments in BIM in construction activities are estimated to propel the market growth in the forecast period.
Procore Technologies, Inc. (NYSE: PCOR), one of the leading companies in the market, announced two product features in Procore BIM in October 2020. Follow Me and Dynamic Wall Elevations transform the user experience in the field and ease the adoption of 3D models during the construction phase of projects. The features efficiently deliver models to the field while identifying issues before the construction. They also provide the user to access 3D models on their iOS devices to bridge the gap between virtual designs and construction activities. Moreover, they enable users to quickly generate lift drawings and elevations and analyse dimensional relationships for efficient installation according to coordinated models. They further boost real-time collaboration and allow a clearer conversation. Such innovative features are significantly contributing to the market for BIM in construction.
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The major players in the global BIM in construction market are Autodesk Inc., Aveva Group PLC, Hexagon AB, Oracle Corporation, and Procore Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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