According to the latest report by IMARC Group, titled ”Architectural Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global architectural services market reached a value of US$ 348.7 Billion in 2022. Architectural services are provided by companies or individuals that cover the art, aesthetic, and science of the built environment. It comprises schematic designing, design development, construction documents, bidding, and construction administration. Some other architectural services include obtaining permits and variances from the government, conducting feasible studies, project management, site selection, building condition audits, programming, interior design, working drawings, creating restoration plans, rendering and promotional materials, and implementing construction contracts. Consequently, these services are widely adopted to design new residential, commercial, and industrial buildings, such as bridges, hospitals, factories, urban homes, and dams.
Global Architectural Services Market Trends:
The global architectural services market is majorly being driven by continuous investments in infrastructural projects, particularly in emerging economies, along with the growing construction activities of modern homes due to inflating incomes and evolving lifestyles. Along with this, governments of various nations are introducing policies to refurbish and reconstruct historical sites, which is further creating a demand for complex design and engineering requirements, such as architectural services. Additionally, the rising environmental concerns is facilitating the need for feasible waste management designs for green building, which is creating lucrative business opportunities for the key players in the market. Other than this, the widespread adoption of advanced designing techniques, such as three-dimensional (3D) technology and computer-aided design (CAD) applications, has enabled the introduction of new mode of presenting the design-build of the project, thereby promoting newer design possibilities and better visually appealing scaled model perspective. This, in turn, is creating a positive outlook for the market across the globe. Looking forward, the market is expected to grow at a CAGR of 4.6% during 2023-2028.
- Based on the service type, the market has been divided into architectural advisory, construction and project management, engineering, interior designing, urban planning, and other services.
- On the basis of the end use, the market has been classified into education, government, healthcare, hospitality, industrial, residential, retail, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being AECOM, Aedas, DP Architects Pte Ltd, Foster + Partners Limited, Gensler, HDR Inc., HKS Inc., HOCHTIEF Aktiengesellschaft (ACS Group), IBI Group Inc., Nikken Sekkei Ltd, Perkins&Will and Stantec Inc.
|Base Year of the Analysis
||Service Type, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AECOM, Aedas, DP Architects Pte Ltd, Foster + Partners Limited, Gensler, HDR Inc., HKS Inc., HOCHTIEF Aktiengesellschaft (ACS Group), IBI Group Inc., Nikken Sekkei Ltd, Perkins&Will and Stantec Inc.
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