Is BIM the future of construction? We clearly believe, YES!

Here are reasons why:

? Companies improve efficiency and integrate the design phase with the rest of the value chain by creating a full three-dimensional model (a “digital twin”) and add further layers like schedule and cost early in the project.

? Automated parametric design and object libraries will transform engineering.

? Using digital tools can significantly improve on-site collaboration and change risks. BIM models will lead to more decision-making early on in the process, distribution will move toward online platforms and advanced logistics management and end-to-end software platforms will allow companies to better control and integrate value and supply chains. Value-chain control or integration will reduce interface frictions and make innovation more agile.

? There is reason to believe that a winner-take-most dynamic will emerge, and companies that fail to adjust fast enough risk seeing market shares and margins erode until they eventually go out of business.

? Looking ahead to 2035, up to 45 percent of incumbent value may be at stake in those parts of the market most heavily affected by shifts. Of this total, 20 to 30 percentage points will be kept and redistributed within the ecosystem to enable the shifts to take place. The remaining 15 to 20 percentage points will be valued up for grabs as a result of the cost savings and productivity gains generated by the shifts. If that value is captured fully by players in the ecosystem, total profit pools could nearly double!

IN CONCLUSION:
Construction is already in the perfect storm. Industrialization, globalization, and digitalization have been key drivers of change in all industries. All of these drivers are hitting construction simultaneously. This will require bold and agile moves to maneuver, but the size of the prize is enormous!

Source: McKinsey