Market research firm Reportlinker, www.reportlinker.com, Lyon, France, is projecting significant growth for BIM (building information modeling) during the next several years.

According to a new report, BIM is expected to increase from $2640.12 million in 2013 to $8646.47 million come 2020, at a CAGR (compound annual growth rate) of 16.72%. During the next five years, one of the main reasons behind this growth will be the amount of newer applications and uses which are being created for this technology. Expectations for this growth come from the growing industrial sector for the BIM modeling market.

BIM is making a mark in both developed and developing countries, with developing countries showing lower turnaround times since BIM software is “available at higher prices with respect to the concerned economy.”

For key players to take advantage of growth in the space recommendations involve emphasizing technology innovations and new product development instead of existing product developments, since reaching for product differentiation can push a player above the competition. Also viewed as being of high importance, the necessity to establish industry relations with OEM (original-equipment manufacturer) giants, technology solution providers, and software providers, since each can contribute to a firm’s survival in the BIM ecosystem. As for the construction industry, relations with the government or private legislative and regulating bodies, especially if they are customers, are deemed as “musts” to help produce desired results.

Some of the players involved in BIM market development include: Archidata, Inc., www.archidata.com, Montreal, Quebec, Canada; Asite Solutions Pvt. Ltd., www.asite.com, London, England; Autodesk, Inc, www.autodesk.com, San Rafael, Calif., Beck Technology Ltd., www.beck-technology.com, Dallas, Texas; Bentley Systems, Inc., www.bentley.com, Exton, Pa.; Dassault Systèmes S.A., www.3ds.com, Vélizy-Villacoublay, France; Design Data, www.sds2.com, Lincoln, Neb.; Nemetschek AG, www.nemetschek.com, Munchen, Germany; Solibri Inc., www.solibri.com, Auckland, New Zealand; and Trimble Naviagation Ltd., www.trimble.com, Sunnyvale, Calif.

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