Global Architectural Engineering and Construction Market 2017-2021
About Architectural Engineering and Construction
AEC solutions include both software and services used for the construction of large and complex residential, industrial, and commercial buildings. The solution includes features such as designing, building, operations, and management. The end-users of AEC solutions include architects, engineers, and contractors. The adoption of AEC solutions is increasing because they help to reduce the capital and time spent on the construction of buildings. Also, factors such as government mandates and support to use AEC solutions in construction projects are driving the global AEC market.
Technavio’s analysts forecast the global architectural engineering and construction market to grow at a CAGR of 11.80% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global architectural engineering and construction market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of architectural engineering and construction software licenses and services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Architectural Engineering and Construction Market 2017-2021
Technavio recognizes the following companies as the key players in the global architectural engineering and construction market: Autodesk, AVEVA, Bentley Systems, Nemetschek, and Trimble
Other Prominent Vendors in the market are: 4M, CadSoft EAGLE, CYPE Ingenieros, Dassault Systèmes, Innovaya, Integrated Environmental Solutions, Newforma, and Virtual Build Technologies
Commenting on the report, an analyst from Technavio’s team said: “Construction projects undertaken through 3D BIM do not provide a platform for the integration of time and cost factor. This has led to the emergence of 5D BIM, which takes more dimensions into consideration. 5D BIM can be considered as an evolution of 4D and 3D BIM.”
According to the report, the adoption of AEC reduces the project's design time by eliminating the need for paperwork. For instance, in 2015, BIM was adopted by architects and engineers for the Diamond Island project in Vietnam. BTA is a key player in Vietnam’s infrastructure and construction industry, and it adopted Autodesk BIM software for building the project. The project is expected to be a new architectural symbol in Ho Chi Minh City in Vietnam. The adoption of Autodesk BIM software reduced around 25% of project infrastructure cost related to design changes, reworks, change in orders, and request for information.
Further, the report states that the construction of a building requires efficient collaboration and information sharing between project members. Traditionally, this was done with drawings and documents, but the new requirements such as 2D or 3D CAD and facilities management drawings increased the adoption of BIM for effective information sharing. With project members using different tools for data collection, design, and analysis, interoperability has become a challenge for software vendors in the market. The lack of interoperability makes information sharing among members difficult because the differences in format make the construction process highly prone to errors. However, open BIM will help solve interoperability issues by ensuring file-level interoperability, syntax-level interoperability, visualization-level interoperability, and semantic-level interoperability. The adoption of open BIM is relatively moderate in the current market situation.
Autodesk, AVEVA, Bentley Systems, Nemetschek, Trimble, 4M, CadSoft EAGLE, CYPE Ingenieros, Dassault Systèmes, Innovaya, Integrated Environmental Solutions, Newforma, Virtual Build Technologies.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook