BOULDER, Colo.--(BUSINESS WIRE)-- The global financial crash and accompanying decline in real estate values has created a slowdown in the architecture, engineering, and construction industries around the world. Many companies in these sectors have taken advantage of the market downturn to try innovative approaches to the construction process. Among these innovations is building information management (BIM) software, along with the accompanying services. According to a recent report from Pike Research, a part of Navigant’s Energy Practice, early adopters of BIM tools and practices will gain a significant advantage over their competitors.
“Building efficiency is at the forefront of conversations everywhere regarding energy and water use, waste, and cost of operations,” says senior research analyst Eric Bloom. “As BIM tools and processes are adopted by more and more firms in the industry, and the advantages of these tools and processes will begin to be realized through higher quality and more reliable deliverables, BIM adoption will become a necessity for competing effectively in the market.”
The leading regions of the world for BIM adoption are North America and Western Europe, followed by high growth in the Asia Pacific region, the report concludes. One of the key factors influencing adoption of BIM in these markets – especially in North America and Western Europe – is the fact that public organizations, such as the U.S. General Services Administration (GSA), are requiring the use of BIM tools on their building and facilities management projects. These organizations are serving to push the body of knowledge regarding BIM tools and processes forward.
The report, “Building Information Modeling”, provides a comprehensive analysis of the global market opportunity for BIM software, training/support services, and project management/collaboration tools. The study includes detailed assessments of the business drivers that are stimulating adoption of BIM, the challenges faced by the industry, and technology issues in the evolving BIM market. Key industry players are profiled and detailed market forecasts, segmented by geography and application segment, extend through 2020. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant’s global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Building Information Modeling,” is a summary and reflects Pike Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.