If you have been following the research reports lately, you know that many of the analyst firms are anticipating significant growth in the BIM (building information modeling) market. And investors are taking notice.
One example comes from Zion Market Research, which predicted at the end of last year that the global demand for BIM is expected to grow 19.45% between 2017 and 2022. The factors driving growth are the increasing construction activities across the globe and government regulatory bodies that are taking initiatives to raise adoption. The report also suggests that the implementation by small-and-medium enterprises is also giving momentum to BIM.
As I mentioned, the investor community is taking notice of this trend, and is putting its money on BIM for the future. One recent instance is Kingspan’s investment in Invicara, which offers a cloud-based platform for managing building information. The company’s BIM Assure solution enables the project team to collaborate to improve data quality in BIM models.
Kingspan has invested $10 million in a minority stake in Invicara, which will use its cloud-based platform to build a new solution that leverages design and construction data to create new digital workflows. With this investment, Invicara’s reach to customers and markets will be enhanced in key markets such as airports, healthcare, data centers, and retail, among others. It is also rapidly expanding the solution with new capabilities planned for 2018.
With the new funding, the company is poised to continue on this growth path, bringing to market a solution that represents the next generation of construction technology.
When a technology company receives an infusion of funds from an investor, the likely outcome is increased product development and enhanced functionality. As of late, more technology providers in the construction space have been receiving funding from investment firms.
It will be interesting to watch as more technology firms receive an infusion of funds to enhance product development. What are your thoughts? Are you seeing enhanced innovation as a result of new investments in technology companies? What are the benefits? What are the drawbacks?
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