Report: International BIM market to hit $12 billion by 2022​

Research and Markets has announced the addition of the "World Building Information Modeling (BIM) Market - Opportunities and Forecasts, 2015-2022" report to their offering.

The world BIM market is expected to reach a value of $11.7 billion by 2022, registering a CAGR of 21.6 percent during 2016 -2022. The Asia-Pacific region is expected to witness an upsurge in demand owing to the exponentially growing construction industry and supportive government regulations for mandating the use of BIM. Furthermore, BIM is forecast to gain increasing adoption across various sectors such as commercial and infrastructure construction.

The commercial and infrastructure construction industry have been witnessing increasing demand for automation of technical drawings and database in the recent years. Further, the supportive government regulations pertaining to mandating the use of BIM in commercial projects, booming real estate industry and growing awareness of the benefits of BIM, among architects and contractors, would drive its adoption, globally. In the current scenario, BIM has emerged as an ideal alternative to traditional CAD software, owing to its suitability over a variety of operational issues such as cost management, handling raw data & information and alignment of processes associated with construction projects. Thus, BIM is expected to exhibit an upward growth trend across widespread verticals.

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