There will be a 3.7% CAGR between 2021 and 2028 for the global building insulation industry, which is expected to reach USD 30.24 billion by 2028 from its current market value of US$22,58 Billion in 2020.
Architecture, engineering, and construction (AEC) professionals use Building Information Modeling (BIM), a 3D model-based software, to more efficiently plan, design, construct, and manage buildings and infrastructure. Building Information Modeling (BIM) is a method for building and managing architectural and engineering projects. Building Information Modeling (BIM) can model every aspect of a building. It is being used to investigate alternative design options and to develop visualisations that help stakeholders comprehend how the building will look before it is finished. Building and infrastructure project planners and architects will definitely benefit from this information.
As part of the design process, the BIM model is utilised to generate the construction paperwork. BIM is an excellent tool for reducing project costs and improving decision-making. Growth in the construction industry will boost demand for Business Information Modeling as the world’s population and the need for infrastructure in both the residential and industrial areas keep rising (BIM).
COVID-19 Impact Analysis on Building Information Modeling (BIM) Market
Building information modelling growth has slowed temporarily as governments tighten controls to keep COVID from spreading further into their jurisdictions. Disruption in infrastructure development was a result of COVID-related restrictions implemented by many countries. However, when the building industry returns to normal, demand for Building Information Modeling (BIM) is on the rise around the world. In the coming year, the market is expected to continue its upward trend.
The COVID-19 outbreak and its negative influence on economies and industries around the world are expected to significantly reduce the worldwide Building Information Modeling market size in 2020. Based on information gleaned from a variety of secondary sources and the most up-to-date information available, numerous scenarios have been examined.
Factors Affecting Growth
Increased demand for residential, commercial, and industrial infrastructure is being driven by global population growth and fast urbanisation. Constructions of commercial, government and residential is continuously rising across numerous countries. When it comes to infrastructure planning, design, and construction, Building Information Modeling (BIM) is becoming more and more popular. Developing countries’ smart city projects should also help the market expand.
Many governments are implementing regulations for BIM adoption as it enhances the construction productivity would also boost BIM market growth. The cost of purchasing and implementing Building Information Modeling software is extremely high at the outset. BIM comes with a hefty price tag when it comes to both the actual software and the associated services. BIM requires a lot of time and effort to learn. This means that market growth will be constrained by the requirement for a high initial investment.
What is Building Information Modeling (BIM)?
Building Information Modeling (BIM) is at the centre of the architectural, engineering, and construction (AEC) industry’s digital transition. Autodesk, as the market leader in BIM, is the industry’s partner in achieving improved working practises and outcomes for business and the built environment.
BIM is the holistic process of creating and managing information about a constructed asset. BIM, which is based on an intelligent model and supported by a cloud platform, integrates structured, multidisciplinary data to create a digital representation of an asset throughout its existence, from planning and design to construction and operations.
What type of industry use Building Information Modeling (BIM) Software?
BIM software for professionals in the architecture, engineering, and construction industries, Civil engineering
Architects
60% of BIM-using architects report utilising BIM on more than half of their projects, with the figure expected to reach 89 percent by 2024.
MEP and structural engineers
51% of BIM-using MEP and structural engineers estimate that they use BIM on more than half of their projects, with the figure expected to reach 80% by 2024.
Civil Engineers
46% of BIM-using civil engineers report that they use BIM on more than half of their projects, with a projected increase to 72% by 2024.
Contractors
41% of BIM-using contractors report using BIM on more than half of their projects, with a projected total of 69% by 2024.
BIM is basically a procedure for generating and managing building data throughout the life of a project. It is often used to manage and boost productivity in building design and construction by utilising three-dimensional, real-time, dynamic building modelling software. The procedure results in the creation of the building information model, which contains all pertinent data regarding the geometry of the building, its spatial relationships, its geographic location, and the quantities and qualities of building components. Construction technology for the BIM process continues to advance as contractors, architects, engineers, and others discover new ways to enhance the BIM process. As Chuck Eastman, director of the Digital Building Laboratory, points out, one of the numerous key benefits of modern BIM design tools is the following:
They are now capable of parametrically defining objects. That is, the objects are defined as parameters and relationships to other things, so that when one of the connected objects changes, this one changes as well. Parametric objects self-rebuild automatically in accordance with the rules encoded in them. The requirements may be straightforward, such as requiring a window to be completely contained within a wall and to move in lockstep with the wall, or they may be complex, defining size ranges and detailing details such as the actual connection between a steel beam and column.
However, before a specific definition of BIM can be given, the issue of whether it is essentially distinct from CAD or CADD must be resolved. According to the author, BIM is not CAD and is not meant to be. CAD is a substitute for pen and paper, a tool for documentation, and CAD files are fundamental data made up of elements such as lines, arcs, and circles—and occasionally surfaces and solids—that are purely graphical representations of building components. Additionally, early definitions asserting that BIM is essentially a three-dimensional model of a facility are incorrect and inadequately communicate the capabilities and potential of digital, object-based, interoperable building information modelling processes and tools, as well as modern communication techniques.
Today’s BIM packages are design software in which documentation is derived from and flows from the process, from schematic design to construction to facility management. Additionally, using BIM technology, an accurate virtual model of a building can be created digitally, and once completed, the computer-generated model will contain all the necessary data and precise geometry to support the construction, fabrication, and procurement activities required to complete the project. Ken Stowe, AEC Division Manager at Autodesk®, reaffirms this and adds the following:
The construction industry is in the midst of a historic transition: from a two-dimensional environment to one that is model-based. Numerous benefits accrue to various members of the project team. Certain firms are taking the lead in planning and coordinating the entire team’s engagement in BIM, applying best practises, and quantifying the advantages. Savings of millions of dollars are possible. The length of projects are being shortened by weeks or months.
It might be difficult to ascertain who originated the word “BIM” originally. According to some, the term was developed by Charles M. Eastman of Georgia Tech, based on the idea that the term is essentially synonymous with “building product model,” which Eastman has used widely in his publications from the late 1970s. Others say it was coined by architect and Autodesk building industry strategist Phil Bernstein, FAIA, who purportedly used the term “building information modelling” in its original form, which was then used by Bentley Systems and others. Graphisoft is credited with developing the first BIM—in the original phrase, “virtual building”—software, known as ArchiCAD. However, numerous enterprises and organisations contributed to the further growth of BIM.
