Digital Sustainability to Drive Adoption of Building Information Modelling (BIM) and Digital Twin Solutions in the Built Environment

Digital Sustainability to Drive Adoption of Building Information Modelling (BIM) and Digital Twin Solutions in the Built Environment

Future Growth Potential Powered by Flexible Business Models in Commercial and Public Infrastructure Projects

RELEASE DATE
05-Aug-2020
REGION
North America
Research Code: MF72-01-00-00-00
SKU: EN01195-GL-MT_24531

$4,950.00

Special Price $4,207.50 save 15 %

In stock
SKU
EN01195-GL-MT_24531

$4,950.00

$4,207.50 save 15 %

DownloadLink

Pay by invoice

ENQUIRE NOW

Description

The purpose of this research is to explore your company’s ‘Growth Zone’ in the architecture, engineering, and construction (AEC) industry through building information modelling (BIM) and digital twin opportunities. The study highlights market developments such as the evolution of the BIM and digital twin platform, impact of major technologies in the construction industry, important driving and restraining factors that influence market growth, top predictions, latest trends, market measurements at a global and regional level, competitive landscape, key company profiles, and growth opportunities and strategic imperatives for market participants to capitalise on in this high-growth market.

BIM and digital twin is a technology-based software and services market that has evolved from the 2D and 3D design tools, which involved a lot of paperwork. BIM and digital twin, which is one of the modern digital construction tools, enable AEC industry professionals to proficiently plan, design, construct, operate, and manage buildings and infrastructure. The implementation of BIM and digital twin platform for construction projects has been increasing at an accelerated rate in the last 5 years. Both public and private sector stakeholders play a crucial role in bringing awareness and business interests in BIM and digital twin. The main drivers identified for BIM and digital twin adoption are increasing digitalisation in the private sector; increasing penetration of building Internet of Things (IoT); sustainable building techniques; governmental support for BIM implementation; business potential with increasing urbanization; and a higher level of collaboration between stakeholders in construction projects. The global BIM and digital twin market was estimated at $5,225.6 million in 2019, and will grow at a CAGR of 14.5% until 2026.

Research Scope

Frost & Sullivan has segmented the overall market as BIM and digital twin, based on end-user verticals such as commercial, industrial, residential, and others, and based on end users such as architects, engineers, contractors, and building owners. The geographies covered in the research are North America, Europe, Asia-Pacific, and Rest of the World.

BIM: The scope of the study includes BIM software and services used for creating virtual 3D static models of a built environment, enabling collaboration and visualisation of design and construction for buildings value chain stakeholders.

Digital Twin: The scope of the study includes the digital twin software and services that help create a dynamic and digital replica of physical building assets, such as heating, ventilation, and air conditioning (HVAC), lighting, elevators, escalators, fire safety and security systems, manufacturing industries’ equipment, water and wastewater industries’ equipment. The platform combines real-time spatial, occupancy, assets, and environmental data, along with analytics, converting building data into building intelligence, supporting decision making for overall building performance optimisation and building lifecycle management.


Research Highlights

The study captures the market revenues of BIM and digital twin, leveraged from the pre-construction phase to the operational phase of buildings. The study does not cover construction management software exclusively used for project bidding, financial planning, project scheduling, field operations, and quality control. However, if these features are included with the BIM and digital twin software, their revenues are included.

Leading companies identified in the research are Autodesk, Nemetschek Group, Bentley Systems, Trimble, Hexagon, RIB, Glodon, Dassault Systemes, Siemens, Aveva, and Procore. Some of the dynamic and emerging companies identified are Invicara, Willow, YouBIM, Ecodomus, Flair3D, Vertex Systems, Sanveo, and Tetris.

Key Issues Addressed

  • What are the key growth opportunities for market participants to continue on their double-digit growth in the forecast period?
  • What are the challenges and strategic imperatives for market participants in the BIM and digital twin market?
  • What are the technologies that will drive BIM and digital twin market growth in the forecast period?
  • What is the global and regional market share of leading companies in the BIM and digital twin market?
  • What are the opportunities and upcoming key infrastructure projects in the major regions?

Author: Anirudh Bhaskaran

 

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
Click image to view it in full size

Table of Contents

Purpose of this Experiential Study

5-step Process to Transformational Growth

Leading, Dynamic, and Emerging

Strategic Imperatives for Market Participants

Market Scope and Definitions

Market Segmentation

Drivers and Restraints

Impact of Top Technologies on the Construction Industry

Global Mapping of Digitalisation in the Construction Industry

Evolution of BIM and Digital Twin in the Construction Industry

Revenue Forecast

Revenue Forecast by Products

Revenue Forecast Discussion

Revenue Forecast Discussion (continued)

Revenue Forecast Discussion (continued)

Revenue by End-user Verticals

Revenue by End Users

Regional Developments—Developed Economies

Regional Developments—Emerging Economies

Market Share

Top BIM and Digital Twin Companies to Watch Out for

Top BIM and Digital Twin Companies to Watch Out for (continued)

Top BIM and Digital Twin Companies to Watch Out for (continued)

Top BIM and Digital Twin Companies to Watch Out for (continued)

Top BIM and Digital Twin Companies to Watch Out for (continued)

Top BIM and Digital Twin Companies to Watch Out for (continued)

North America

Europe

APAC

RoW

Macro to Micro Visioning

Trends Impacting the BIM and Digital Twin Market

Top Predictions for the BIM and Digital Twin Market

Levers for Growth

Growth Opportunity 1—Aligning BIM and Digital Twin Solutions to Promote Sustainability and Net-zero Buildings

Growth Opportunity 2—Flexible Business Model Development and Incentivisation

Growth Opportunity 3—Targeting Critical End-user Segments to Mitigate COVID-19 Damage

Growth Opportunity 4—Targeting Smart City Infrastructure Projects in High-growth Regions

Growth Opportunity 5—Forming Strategic Partnerships to Strengthen Regional Foothold

Growth Opportunity 6—Acquisition of Dynamic Smart Building Participants to Strengthen Digital Twin Offerings

Growth Opportunity 7—Facilitating Open BIM Standards

Growth Opportunity 8—Incorporating AI/ML in BIM and Digital Twin Platform

Growth Opportunity 9—Increasing Investments in R&D Activities to Foster Innovation

Growth Opportunity 10—Following Sustainable Business Practices

Growth Opportunity 11—Upskilling Student Community to Create Skilled Professionals

Growth Opportunity 12—Integrating Smart Building Platform into BIM and Digital Twin Platform

Identifying Your Company’s Growth Zone

Growth Opportunities 1–9: Vision and Strategy

Growth Opportunities 10–12: Brand and Demand

Growth Opportunities Matrix

Growth Strategies for Your Company

Prioritised Opportunities Through Implementation

Legal Disclaimer

Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

Related Research
The purpose of this research is to explore your company’s ‘Growth Zone’ in the architecture, engineering, and construction (AEC) industry through building information modelling (BIM) and digital twin opportunities. The study highlights market developments such as the evolution of the BIM and digital twin platform, impact of major technologies in the construction industry, important driving and restraining factors that influence market growth, top predictions, latest trends, market measurements at a global and regional level, competitive landscape, key company profiles, and growth opportunities and strategic imperatives for market participants to capitalise on in this high-growth market. BIM and digital twin is a technology-based software and services market that has evolved from the 2D and 3D design tools, which involved a lot of paperwork. BIM and digital twin, which is one of the modern digital construction tools, enable AEC industry professionals to proficiently plan, design, construct, operate, and manage buildings and infrastructure. The implementation of BIM and digital twin platform for construction projects has been increasing at an accelerated rate in the last 5 years. Both public and private sector stakeholders play a crucial role in bringing awareness and business interests in BIM and digital twin. The main drivers identified for BIM and digital twin adoption are increasing digitalisation in the private sector; increasing penetration of building Internet of Things (IoT); sustainable building techniques; governmental support for BIM implementation; business potential with increasing urbanization; and a higher level of collaboration between stakeholders in construction projects. The global BIM and digital twin market was estimated at $5,225.6 million in 2019, and will grow at a CAGR of 14.5% until 2026.--BEGIN PROMO--

Research Scope

Frost & Sullivan has segmented the overall market as BIM and digital twin, based on end-user verticals such as commercial, industrial, residential, and others, and based on end users such as architects, engineers, contractors, and building owners. The geographies covered in the research are North America, Europe, Asia-Pacific, and Rest of the World.

BIM: The scope of the study includes BIM software and services used for creating virtual 3D static models of a built environment, enabling collaboration and visualisation of design and construction for buildings value chain stakeholders.

Digital Twin: The scope of the study includes the digital twin software and services that help create a dynamic and digital replica of physical building assets, such as heating, ventilation, and air conditioning (HVAC), lighting, elevators, escalators, fire safety and security systems, manufacturing industries’ equipment, water and wastewater industries’ equipment. The platform combines real-time spatial, occupancy, assets, and environmental data, along with analytics, converting building data into building intelligence, supporting decision making for overall building performance optimisation and building lifecycle management.

Research Highlights

The study captures the market revenues of BIM and digital twin, leveraged from the pre-construction phase to the operational phase of buildings. The study does not cover construction management software exclusively used for project bidding, financial planning, project scheduling, field operations, and quality control. However, if these features are included with the BIM and digital twin software, their revenues are included.

Leading companies identified in the research are Autodesk, Nemetschek Group, Bentley Systems, Trimble, Hexagon, RIB, Glodon, Dassault Systemes, Siemens, Aveva, and Procore. Some of the dynamic and emerging companies identified are Invicara, Willow, YouBIM, Ecodomus, Flair3D, Vertex Systems, Sanveo, and Tetris.

Key Issues Addressed

  • What are the key growth opportunities for market participants to continue on their double-digit growth in the forecast period
  • What are the challenges and strategic imperatives for market participants in the BIM and digital twin market
  • What are the technologies that will drive BIM and digital twin market growth in the forecast period
  • What is the global and regional market share of leading companies in the BIM and digital twin market
  • What are the opportunities and upcoming key infrastructure projects in the major regions

Author: Anirudh Bhaskaran

 

More Information
Author Anirudh Bhaskaran
GPS Codes 9307-A4,9343-A4,GETE
Industries Environment
No Index No
Is Prebook No
Podcast No
WIP Number MF72-01-00-00-00