London, 23 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global AEC Market 2015-2019, which is likely to grow at a CAGR of 10.63% during the period 2015-2019.
The adoption of AEC reduces the design time of projects as it eliminates paperwork. The adoption of the AEC solution enabled engineers to save 80% on time than if they had used other tools for analysis and design. With the high growth of the global construction market, the adoption of AEC solutions for the designing, management, and construction of buildings and infrastructure has increased significantly.
“Technavio estimates that using business information modeling in model creation and assembly will save on costs by 30%,” says Faisal Ghaus, Vice President of Technavio.
“BIM can also be used in building operation management and maintenance activities such as energy management and scheduled maintenance. This will see a cost reduction of about 40% over the building’s lifetime.”
Key Market Drivers
- Reduction in Design Time
- Growth of Global Construction Market
- Availability of Cloud-based AEC
- Public Procurement Directive to Boost BIM Adoption in EU
Key Market Trends
- Availability of Open BIM
- Increased Demand from APAC
- Use of BIM for High Cost Saving for Contractors and Owners
- Availability of 5D BIM
Key Market Vendors
- Autodesk Inc.
- AVEVA Group plc
- Bentley Systems Inc.
- Intergraph Corp.
- Nemetschek AG
- Trimble Navigation Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
