Building Information Modelling Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

The Australia, New Zealand, and India building information modelling (BIM) market features a low degree of competition owing to a low number of players, observes Transparency Market Research in a recent report. The market features a mix of large as well as mid-level companies, but regional players dominate, accounting for nearly 60% of the overall market. Some of the notable international firms operating in the market, such as Dassault Systèmes SA, Autodesk Inc., Bentley Systems, Inc., and Tekla Corporation, collectively accounted for a nearly 42% of the market in 2015.

Leading players are currently focusing on providing cloud-based building information modelling (BIM) solutions. The rapidly rising demand for cloud-based software products is owing to their advantages such as instantaneous connection to multiple infrastructure development sites, management of information in real-time across the flow of supply chain, and efficient demand planning. Moreover, the companies are entering into strategic collaborations with real estate builders and firms to promote the benefits of BIM and henceforth increase its adoption level.

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Transparency Market Research states that the Australia, New Zealand, and India BIM market will witness a rapid rise in the introduction of cloud-based BIM solutions in the next few years. The overall market will exhibit a remarkable 22.3% CAGR over the period between 2016 and 2024, rising from a valuation of US$214.0 mn in 2015 to US$1,335.3 mn by 2024.

On the basis of solutions, the market is segmented into software, and professional and consultancy services. The software segment is further divided into on-premise and cloud based building information modelling (BIM). In 2015, the on-premise building information modelling segment accounted for maximum share of around 87% of the revenue of the overall building information modelling (BIM) software.

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However, cloud-based building information modelling software is expected to show sustainable growth during the forecast period due to technological advancements and cost effectiveness as compared to on-premise BIM software solutions.

In terms of geography, India accounted for around 42.6% of the Australia, New Zealand, and India building information modelling market’s revenue in 2015. The country is expected to remain the dominant consumer of building information modelling solutions over the forecast period as well, exhibiting an exponential 24% CAGR over the period between 2016 and 2024.

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In Australia, for instance, the Australian Federal Government’s Infrastructure, Transport and Cities Parliamentary Committee suggested in March 2016 that the use of BIM should be made compulsory for all government funded infrastructure development projects valuing over $50 mn. In New Zealand, the government formed the BIM Acceleration Committee in 2014 to encourage the adoption of BIM through alliances between the government and various stakeholders in the construction sector.

It is estimated that the initial cost of BIM software can go anywhere between US$6,000 to US$10,000, with additional expenses involved for installation and maintenance of the software. Such high costs incurred in implementing BIM software are the key factor why the rate of adoption of BIM among low-scale contractors or developers is low.

This review of the market is based on a recent market research report by TMR, titled “Building Information Modelling Market - Australia, New Zealand and India Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

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