About two in every five contractors and project developers responding to a recent survey said they expect to see an increase in profitability over the year due to the use of building information modeling (BIM) applications. The finding is included in a new 114-page report, entitled “Building Information Modeling in the Global Construction Industry 2012: Implementation and Market Trends, Profitability and Budget Forecasts in the Global Construction Industry,” released by World Market Intelligence.
The report analyzes how companies in the construction industry perceive BIM. The publication examines the initiatives surrounding BIM in the industry and explores the technology’s impact on profits and cost-saving targets set by companies. The document also analyzes key markets for growth as well as “critical factors” for choosing BIM, benefits, and the effect on return on investment. Key drivers and chief barriers in the implementation of BIM are identified, according to World Market Intelligence. Also analyzed are category-level spending outlooks, changes in BIM procurement budgets, BIM applications selection criteria, and investment opportunities that are available for leading purchase decision makers.
In the report, cost savings and operational efficiency, improved visualization and design quality, and client demand are cited as major drivers for the adoption of BIM in the construction industry. Furthermore, the study indicates that the United Kingdom, United States, and markets in the Middle East region are the top three markets that will provide the highest growth opportunities for BIM application-related software products and services.
The report is based on primary surveys conducted by World Market Intelligence, accessing its B2B panels comprised of senior business decision makers. The opinions and forward-looking statements of 182 industry executives are captured in the survey. The geographical scope of the research is global, drawing on the activity and expectations of leading industry players across the Americas, Europe, Asia-Pacific, Africa, and Middle East. The report analyzes expenditure of construction industry buyers on BIM applications, procurement practices, and critical factors that influence the selection of BIM applications.
Topics covered in the report include category-level spending outlooks, market-specific growth opportunities, investment opportunities, and principal challenges associated with the implementation of BIM applications. The report provides qualitative analysis of “key” industry opportunities and threats along with full survey results.
Company Provides CPC/BIM with Additional Information
In an email interview with Construction Project Controls and BIM Report (CPC/BIM), World Market Intelligence’s Analyst Team (WMIAT) provided the following additional information about the survey and report:
CPC/BIM: Which types of construction professionals will benefit the most from reading the report and why? How will they use the report?
WMIAT: Construction managers and general contractors, architects, structural engineers, MEP (mechanical, electrical and plumbing) engineers and cost engineers will benefit the most from this report. This info is also obtained from respondents with a question ‘In your opinion, which of the following stakeholders get the maximum value out of BIM implementation?,’ so the same stakeholders are considered as the beneficiaries of the report.
CPC/BIM: The report states that 27 percent of respondents were directors, C-level executives, and departmental heads. Can you provide a percentage breakdown of the other types of respondents? About how many people overall responded?
WMIAT: Actually, 47 percent of respondents are directors, C-level executives, and business and departmental heads. [The] 27 percent [figure] could have been a typo error in the metadata. A total of 182 respondents answered the survey. The breakdown is as follows:
CPC/BIM: The survey found that 40 percent of contractors and developers expect to see a profitability increase over the next year due to the use of BIM applications. What results were reported for the other answer options for this survey question?
WMIAT: Of the rest, 20 percent expect ‘no impact on profitability,’ 10 percent expect a reduction in profitability, and 30 percent of respondents either do not know or was not applicable to them.
CPC/BIM: Which survey results surprised you the most and why?
WMIAT: Although a significant percentage of respondents [consider] BIM as the future of industry, a comparatively low percentage have only implemented this software, showing that suppliers of BIM products have significant opportunities in the market.
CPC/BIM: Besides the U.K., U.S., and Middle East, what other countries/regions of the world are expected to provide the highest growth opportunities for BIM application-related software products and services, and why? Which country/region will grow the fastest, and could it surpass the U.K., U.S., and/or Middle East?
WMIAT: These results are in response to our question to respondents ‘How do you expect demand for BIM to change in the following regions over the next 12 months?’ The following major regions were included in the list, Brazil, Canada, China, France, Germany, India, Japan, Middle East, Russia, Singapore, South Africa , U.K., and U.S. After the U.K., U.S., and Middle East, China and India are leading the list. However, the question of these countries surpassing the U.K., U.S., and Middle East can’t be ascertained with the existing data. A secondary research analysis on growth of BIM products in the U.K., the U.S., and Middle East are discussed in the report.
CPC/BIM: Has your company conducted and published a comparable survey in the past? If so, which results changed the most since the last report was released, and to what do you attribute this change?
WMIAT: No comparable surveys were done in the past over BIM. This is the first report on this subject.
