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Building Information Modeling (BIM) Market: Market Shares, Trends, Top Key Players, Industry Overview and Global Forecast to 2022
sagarkan   1/9/2019 4:10:20 AM

The building information modeling (BIM) market has witnessed enormous developments in the past few years. The North American region is expected to capture the largest market share in 2017 followed by Europe. The market in the APAC region is expected to grow at the highest rate between 2017 and 2022. Hence, these are the major regions wherein BIM is expected to witness maximum growth. This is because of the presence of the large number of BIM software and services offering companies in these regions. The BIM market is highly competitive with a number of big and small players.

Till 2017, the BIM market was dominated by Autodesk Inc. (U.S.), Nemetschek SE (Germany), Trimble Navigation Limited (U.S.), Bentley System, Inc. (U.S.). New product launches and partnerships & collaborations were the prevailing strategies adopted by the top players to capture a larger share in the BIM market.

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Top 2 players in the BIM market:

Autodesk, Inc. is a leading provider of software solutions to architects, construction management, industries, and real estate. The company's well-established market distribution network serves as an important factor for its future growth. The company focuses on strategic partnerships with companies across regions. For instance, in 2010, Autodesk partnered with NASA. Further in 2011 the company partnered with Ames Research Center (U.S.) for its BIM products. These strategic partnerships will help the company enhance its business operations and increase its profit. Currently, in 3D modeling, Autodesk focuses on developing next-generation platforms and other advanced technologies, and continues to expand in the emerging markets.

Product launches, introduction of 3D modeling products, and acquisitions have been have been some of the strategies adopted by Bentley Systems, Inc. (U.S.) to build a strong product portfolio and maintain pace in the emerging markets. The company is highly exposed to credit risk due to its high dependence on customers from the private sector. However, it is involved in the R&D activities to remain competitive in the BIM market. In March 2015, the company acquired EADOC, LLC (U.S.), a provider of construction management cloud services, to help construction managers at engineering/construction management firms and infrastructure owner organizations for capital projects to reduce risks. Such strategic acquisitions will help the company boost its offerings and strengthen its customer base in the BIM market. Apart from this, the accelerated demand for BIM software and services in European countries such as the U.K., Germany, and Spain, owing to stringent government regulations, presents a lucrative growth opportunity for the company.

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