Welcome UAH To Atlas’ Office!
On Monday, 8 August 2022, Atlas was glad to welcome the visit of representatives of the University of Architecture HCMC (UAH): Assoc. Prof. PhD. Arch. Le Van Thuong – Principal, Ph.D. Nguyen Hoang Minh Vu – Vice Principal, and some other deans of faculties.
During the visit, the UAH’s representatives had the chance to see the atmosphere of the open space work environment at Atlas, as well as several significant project types from the architectural, engineering & digital groups.
Atlas is looking forward to welcoming UAH’s young talents to join us in the future. Let's throwback to the precious moments of the visit!
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Global AEC Market Opportunities and Forecast, 2021-2028
AEC Market Statistics—2028
The global AEC market size was valued at $7,188.00 million in 2020, and is projected to reach $15,842.00 million by 2028, growing at a CAGR of 10.7% from 2021 to 2028. Architecture, engineering, and construction software is used by real estate companies, construction firms, surveyors, interior designer, and mechanical & electrical piping engineers for effective project life cycle management. Key objective of architecture, engineering, and construction software is to enhance project performance and produce better outcomes. AEC helps construction managers to gather data and information from relevant disciplines and communicate more effectively. Enhanced data communication and coordination among various stakeholders, architectures, and construction supervisors is coupled with improved construction productivity to provide a leading edge to AEC users.
Depending on deployment mode, the on-premise segment dominated the AEC market share in 2020, and is expected to continue this trend during the forecast period. The growth of this segment is attributed to rise in concerns about security of data associated with construction projects, which is highly valuable. Larger firms in the AEC industry provide on-premise software for their customers in industrial, infrastructure, and residential sectors. However, the cloud segment is expected to witness highest growth in the upcoming years as it does not involve capital cost as well as has low maintenance requirements, hence is most preferred by mid-sized financial institutions.
On the basis of enterprise size, the large enterprises segment dominated the market share globally in 2020, and is expected to continue the same during the forecast period. The growth is attributed to rise in use of cutting-edge technology such as augmented reality and virtual reality in large scale enterprises, which needs AEC.
North America generated highest revenue in 2019, and is expected to continue this trend during the forecast period. This is attributed to rapid growth in the construction and infrastructure sector such as adoption of artificial intelligence and rise in need for automation in the construction and architecture sector. However, Asia-Pacific is expected to exhibit highest growth during the AEC market forecast period as adoption of AEC software is prominent in this region, owing to growth in the construction sector in this region. Surge in multi-story buildings and skyscrapers as well as ongoing developments in infrastructure in this region are expected to be key factors facilitating growth of the AEC market.
AEC market is segmented into component, deployment mode, enterprise size, application, and region.
- By component, it is bifurcated into software and service.
- Depending on deployment mode, it is categorized into on-premise and cloud.
- On the basis of enterprise size, it is categorized into large enterprises and small & medium size enterprises.
- As per application, it is classified into construction & architecture companies, education, and others.
- Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top impacting factors
Numerous factors such as growth in infrastructure projects, owing to rapid urbanization and increase in productivity through exchange of information drive the market globally. Furthermore, mandatory rules and regulations applied by government authorities for the use of AEC software also drives the market globally. However, high initial cost of implementation of AEC software and lack of skilled workers in the industry restrain the market globally. Furthermore, growth in adoption of AR and VR in the construction industry and rise in implementation of IoT in numerous construction projects are expected to create AEC market opportunity market during the forecast period.
Increase in infrastructure projects
As population is increasing globally, demand for construction of buildings, malls, and offices, owing to launch of projects such as smart cities and high-speed roads, is on the rise. Hence, to operate these projects seamlessly and efficiently, key players are adopting AEC software. The construction industry has witnessed rapid growth in the Middle East and in most developing countries of Asia- Pacific such as India and China.
Source: The indicators are extracted from Allied Market Research report as a reference for market forecast.
Digital Twins in Construction, Engineering & Architecture
For the AEC industry, a digital twin integrates real-time data from a built asset with its digital representation to create insights across the project lifecycle. Digital twin isn’t just the latest shiny technology. It’s solving major challenges in both design and operations.
What are the benefits of digital twin?
Digital twins give multi-dimensional views into how an asset is designed and how it’s performing, including occupant behavior, use patterns, space utilization, and traffic patterns. A digital twin offers a means to test "what-if" scenarios, including the impact of design changes, weather disruptions, and security events. It collects substantial data under one environment.
How does digital twin work?
Digital twin works by integrating a building’s system, sensor, and utility meter data with intelligent multidimensional digital models. A true digital twin possesses the operational and behavioral awareness necessary to simulate, predict, and inform decisions based on real-world conditions.
How do digital twins use BIM?
The BIM process incorporates data created during the planning and design phases. Digital twin extends data capture to the construction and operational phases of the asset—and can also inform planning and design for future projects.
Realizing the full promise of digital twin requires multidisciplinary models at the core and an integration of systems and data across workflows and between organizations. BIM is the most efficient path to the creation of an accurate, high-value digital twin.
Types of digital twins
Each type of digital twin requires a greater degree of maturity and digital transformation, offering increased value to your business.
Level 1: Descriptive twin
The descriptive twin is a visual replica with live, editable design and construction data, including 3D models and BIM.
Level 2: Informative twin
The informative twin uses increased integration with sensors and operations data for insights at any given time.
Level 3: Predictive twin
The predictive twin captures real-time data, contextual data, and analytics to identify potential issues.
Level 4: Comprehensive twin
The comprehensive twin leverages advanced modeling and simulation for potential future scenarios as well as prescriptive analytics and recommendations.
Level 5: Autonomous twin
The autonomous twin has the ability to learn and make decisions through artificial intelligence, while using advanced algorithms for simulation and 3D visualization.
BIM Market Overview
Building Information Modeling (BIM) refers to a specific software used in various stages of implementation and design of several infrastructural projects. The BIM market provides construction consultants, architects, and engineers extra funds and tools for building theme-based buildings based on abstract design. The need for blueprints for medical, electrical, and plumbing designs combined with the regulations to implement building information modelling market. Furthermore, flexible uses can boost the growth of the BIM market over the coming years.
BIM Market Drivers
The global market for building information modeling has recorded a massive rise in the growth rate in the last few years. The significant aspect causing an upsurge in the market's growth is the rapid expansion of the construction sector across the globe. In addition, the governments across various are taking initiatives to encourage organizations to adopt the BIM market to manage resources efficiently over the assessment era is another major parameter supporting the market growth. In addition, the architects and engineers can draw up modified projects by varying some patterns of the existing templates. Also, the tools needed for designing and developing the projected may also boost the market's growth over the assessment timeframe. Moreover, the constant technological evolution will likely offer lucrative opportunities to the players across the market over the review timeframe.
BIM Market Segments
Among all the components, the solution segment is anticipated to account for the highest revenue share across the global market for building information modeling over the assessment era. The segment's growth is mainly credited to the growing adoption of BIM solutions in the AEC industry. Most of these companies are implementing these solutions to support all construction processes like data management and procurement. On the other hand, the services segment is projected to register the highest CAGR over the review timeframe. The segment's growth is credited to the factors such as an increase in the adoption of services among end users and growth in demand for cloud-based building information modeling services.
BIM Industry Regional Analysis
The global market for building information modeling is analyzed across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
Source: Market Research Future
Continuing the previous companion activities, on July 29th, 2022, HCMC University of Technology – Faculty of Civil Engineering and Atlas jointly held a signing ceremony of the cooperation agreement.
This signing ceremony witnesses the cooperation between two parties and brings more opportunities to HCMUTE’s students after their graduation. In particular, the Board of Directors is interested in developing the human resource, selecting and training young talents to support them in achieving essential skills for their career path afterwards.
Let's take a look at the recap photos below: