MRRSE has announced the addition of the “Building Information Modelling Market - Australia, New Zealand and India Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” report to their offering.
Albany, NY -- (SBWIRE) -- 01/18/2017 -- The vast rise in infrastructure development activities across India, Australia, and New Zealand in the past few years has been complemented with an increased focus on the usage of digital tools for the proper estimation of cost and time required for project completion. As the overall focus on cost and time values continues to rise in the highly competitive construction industry, traditional 3D visualization tools such as AutoCAD, 3DMax, and CATIA are being increasingly replaced by building information modelling (BIM) solutions.
Building information modelling (BIM) is a 3D visual presentation of a technical drawing that includes the plan, elevation, and section of a building. It is a kind of digital fabrication system in which the actual model of the building is digitally constructed with accurate values. Apart from 3D visualization, BIM also covers 4D and 5D, which comprise the time and cost plans of a construction project.
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According to Transparency Market Research, the Australia, New Zealand, and India building information modelling (BIM) market was worth US$214.0 mn in 2015 and is expected to reach US$1,335.3 mn by 2024, expanding at a remarkable CAGR of 22.3% from 2016 to 2024.
Architects Continue to Remain Dominant Consumers of BIM Solutions
Architects, contractors and engineers are some of the prominent end users of BIM solution in India, New Zealand, and Australia. Across all three, the segment of architects is the key consumer of these solutions, accounting for over 40% of these markets in 2015. Over the forecast period as well, the segment is projected to continue to have a strong influence on the overall development of the BIM market and exhibit growth at a remarkable pace across these countries.
However, the usage of BIM solutions across the contractor segment is expected to exhibit growth at a faster pace than the architects segment across these countries over the forecast period. In India, the segment is expected to expand at a 26.6% CAGR, in Australia it will exhibit a 25% CAGR and in New Zealand, it will exhibit a slightly lesser 21% CAGR as compared to the architect sector.
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Thanks to Vast Rise in Infrastructure Development Activities, India to Account for Bulk of Sales
In terms of revenue, India is presently the leading market building information modeling solutions, accounting for nearly 43% share in the overall revenue of the Australia, New Zealand, and India building information modelling (BIM) market in 2015. Moreover, the country is expected to remain the leading consumer of building information modeling solutions throughout the forecast period. India's building information modeling market is primarily driven by the rapid rate of development of the healthcare infrastructure of the country.
The building information modeling market in Australia is also expected to exhibit adequate growth over the forecast period. Rising use in the construction of bridges, roads and highways is key to the high demand for building information modeling solutions in the country. The Australia building information modelling market will also be driven due to high demand across the rail, transit, and aviation sectors in the next few years.
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The encouraging pace of infrastructure development activities across New Zealand is also expected to lead to favorable growth opportunities for the building information modeling market. Over the period between 2016 and 2024, the New Zealand building information modeling market is expected to exhibit a 20.3% CAGR.
Some of the most remarkable companies operating in the Australia, New Zealand, and India building information modelling market are Dassault Systèmes SA, GRAITEC, Nemetschek AG, AECOM Technology Corporation, Pentagon Solutions Ltd., Synchro Software Ltd., Autodesk Inc., Beck Technology Ltd., Bentley Systems, and Tekla Corporation.
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| A ReleaseWire press release | January 18, 2017 |