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- The construction sector can be broadly classified into five categories: Commercial, Industrial, Infrastructure, Institutional and Residential.
- The reasons for this growth can be attributed to various macroeconomic factors conducive to the construction sector.Key Macroeconomic Trends Driving Growth in UAE Industrial Construction SectorUAE is one of the most diversified economies in the Gulf region.
- Looking at the Middle East, UAE can be seen as one of the fastest growing economy, with its construction industry ranked third among the construction industries of the Middle East countries.
- The construction industry is third largest economic activity after oil and trade, in the UAE, including approximately 6000 companies with most of the construction activities taking place in Abu Dhabi and Dubai.
- The industry’s output value in real terms is forecast to rise at a CAGR of 6.52% in the next five years period; up from 3.55% during the period 2010-2014.The promising future of the construction industry can be seen by observing its past trend.
- The building information modeling market is expected to grow from a market share of $2640.12 million in 2013 to $8646.47 million by 2020 at a CAGR of 16.72%.
- Players involved in the development of building information modeling market include Archidata Inc.(Canada), Asite Solutions Pvt.
- This growth is expected due to the growing industrial sector for the building information modeling market.
- Browse 111 market data tables and 80 figures spread through 230 pages and in-depth TOC on “Building Information Modeling Market – Analysis and Forecast 2013 – 2020”.
- The quality of building information modeling process is determined by reducing costs, saving time, and improving speed of the process.