The convergence of design, engineering, and building elements has formed the ground for the global architecture engineering and construction, popularly referred to as the AEC market. The industry involves participation from architects, engineers, and builders alike by covering a wide scope of residential complexes, industrial, and commercial buildings. It is no longer restricted to the act of conventional designing and setting up structures for customized needs. The increasing industrialization and its immediate impacts on the environment call for sustainable AEC solutions to cater to the needs of the growing market. The sector is set to develop exponentially in the next few years and revenues are expected to increase for the period 2016–2020. In a recent report added by Big Market Research, the architecture, engineering, and construction market is estimated to grow at a CAGR of 10.75% in this forecast period.
BIM solutions propel the market growth:
The architecture, engineering, and construction market features a variety of software and services. With widespread usage of innovative technologies, the traditional designing and construction methods witness a discernible shift in market trends. The AEC industry has shifted its focus towards reducing the project design time. This ensures that there is better adherence to timelines by establishing efficient control. The emergence of cloud-based BIM (Building Information Modeling), CAD-based design, design analysis, as well as construction and management solutions has supplemented the growth of the market.
The process of BIM encompasses all aspects of construction of a structure. This includes the design, estimation, delivery of goods during the build, the build process, resource allocation, and productivity requirements to meet targeted deadlines. Implementation of these solutions aids in proper estimation of the cost and time aspects, thereby guiding engineers towards better planning and execution. BIM software is available in the market in 3D, 4D, 5D, 6D, and 7D formats, to answer the diverse needs of the industry. Architects and construction engineers prefer to adopt 5D and open BIM solution, as it allows delivery teams to reduce errors and make accurate judgments regarding the time that will be required to handover the completed building. These benefits help in driving the development of the global architecture, engineering, and construction market.
Strong market presence in developed and developing nations:
The growing base of smart consumers has put a huge pressure on the construction market for the erection of new buildings that are functional and have added visual appeal. Rapid globalization has widened the scope of the market in different countries. The architecture, engineering, and construction market has a major presence in regions of North America, Europe, Asia-Pacific, and LAMEA. America and Canada employs process, such as Virtual Building Environment (VBE) and pertinent tools, for project management. Developing countries including India and China have extremely skilled and certified manpower at their disposal who are employed in local and international architecture projects. The high engagement of this labor force in developing new solutions for AEC industry has led to a growth of the market in these countries.
The architecture, engineering, and construction market is a dynamic industry, with a lot of development trends influencing it. There are many vendors such as Autodesk, AVEVA, Bentley, Intergraph, and Trimble, which are engaged in providing AEC solutions to architects and construction engineers. The competitive strategies employed by these players give insights into the internal working of the industry trends. The sector faces a few minor challenges in the form of high software development and personnel training costs. There is also the added hindrance of interoperability issues in BIM, which sometimes affects the efficiency of solutions. However, with more and more stakeholders getting involved, combating these challenges and establishing a strong market hold will gain prominence in the coming few years.
BIM solutions propel the market growth:
The architecture, engineering, and construction market features a variety of software and services. With widespread usage of innovative technologies, the traditional designing and construction methods witness a discernible shift in market trends. The AEC industry has shifted its focus towards reducing the project design time. This ensures that there is better adherence to timelines by establishing efficient control. The emergence of cloud-based BIM (Building Information Modeling), CAD-based design, design analysis, as well as construction and management solutions has supplemented the growth of the market.
The process of BIM encompasses all aspects of construction of a structure. This includes the design, estimation, delivery of goods during the build, the build process, resource allocation, and productivity requirements to meet targeted deadlines. Implementation of these solutions aids in proper estimation of the cost and time aspects, thereby guiding engineers towards better planning and execution. BIM software is available in the market in 3D, 4D, 5D, 6D, and 7D formats, to answer the diverse needs of the industry. Architects and construction engineers prefer to adopt 5D and open BIM solution, as it allows delivery teams to reduce errors and make accurate judgments regarding the time that will be required to handover the completed building. These benefits help in driving the development of the global architecture, engineering, and construction market.
Strong market presence in developed and developing nations:
The growing base of smart consumers has put a huge pressure on the construction market for the erection of new buildings that are functional and have added visual appeal. Rapid globalization has widened the scope of the market in different countries. The architecture, engineering, and construction market has a major presence in regions of North America, Europe, Asia-Pacific, and LAMEA. America and Canada employs process, such as Virtual Building Environment (VBE) and pertinent tools, for project management. Developing countries including India and China have extremely skilled and certified manpower at their disposal who are employed in local and international architecture projects. The high engagement of this labor force in developing new solutions for AEC industry has led to a growth of the market in these countries.
The architecture, engineering, and construction market is a dynamic industry, with a lot of development trends influencing it. There are many vendors such as Autodesk, AVEVA, Bentley, Intergraph, and Trimble, which are engaged in providing AEC solutions to architects and construction engineers. The competitive strategies employed by these players give insights into the internal working of the industry trends. The sector faces a few minor challenges in the form of high software development and personnel training costs. There is also the added hindrance of interoperability issues in BIM, which sometimes affects the efficiency of solutions. However, with more and more stakeholders getting involved, combating these challenges and establishing a strong market hold will gain prominence in the coming few years.
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