Is BIM costly?

Could you elaborate on the costs associated with Building Information Modeling (BIM) and whether they can be considered significant? Is BIM an expensive endeavor, or are there factors that can mitigate these costs and make it a cost-effective solution for construction projects? Additionally, how do the potential benefits of BIM, such as improved collaboration, reduced errors, and enhanced project visualization, weigh against its upfront costs? Lastly, are there any industry trends or advancements that are helping to drive down the costs of BIM implementation?