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Assessing Risk Amid Rise Of Building Info Modeling Tech

By Ivan Sarkissian (June 30, 2022, 6:32 PM EDT) — Building information modeling, or BIM, has been a part of the design and construction landscape for the better part of 20 years.

As global urbanization continues to increase rapidly, the architectural, engineering and construction industry are proceeding to utilize BIM or adopt the software into their construction projects. In 2020, the BIM market value was at $5.4 billion and is on track to reach $10.7 billion with an expected increase at a compound annual growth rate of 12.5% by 2026.

Generally speaking, BIM relies on 3D software that is used by architectural, engineering and construction professionals to help identify and gain insights…

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