Architectural Services Industry Overview
The global architectural services market size is anticipated to reach USD 648.12 billion by 2030, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.4% from 2022 to 2030. The rapid urbanization in countries such as Brazil, India, and South Korea is resulting in an increasing demand for smart homes, which is a major factor driving the growth of the market. Moreover, the rising commercial and industrial building restoration activities across the globe are expected to support the increasing demand for planning, designing, and consulting services for efficient work operation. This, in turn, is expected to contribute to market growth.
Sectors such as industrial, healthcare, and hospitality widely adopt architectural services. Architecture firms assist end-users at every stage of the process, offering them blueprints of the building structure to provide a detailed spatial representation. The growing focus of architectural firms on constructing smart buildings with better space utilization is favoring the market growth. In addition, the demand for urban planning services is increasing owing to numerous smart cities initiatives undertaken by governments across the globe.
Architectural Services Market Segmentation
Grand View Research has segmented the global architectural services market report based on service type, end use, and region:
Based on the Service Type Insights, the market is segmented into Architectural Advisory Services, Construction and Project Management Services, Engineering Services, Interior Design Services, Urban Planning Services, Building Code Counseling and Interpretation Consulting Services, Legal Technical Requirement Compliance Counseling Services, and Others.
- The construction and project management segment accounted for a revenue share exceeding 34.0% in 2021 and is expected to witness high growth over the coming years. Construction and project management are important aspects of a project.
- The urban planning segment is expected to witness significant growth in the market, registering a CAGR of 9.2% over the forecast period. This can be attributed to increasing government initiatives for urban development.
Based on the End-use Insights, the market is segmented into Education, Government, Healthcare, Hospitality, Residential, Industrial, Retail, and Others.
- The growing environmental concerns and initiatives carried out by business owners to construct green buildings are expected to contribute to the demand for architectural advisory and interior design services. This is expected to positively impact segment growth.
- The industrial segment dominated the market and accounted for a revenue share of over 45.0% in 2021. This can be attributed to the rapid industrialization across the globe, coupled with increasing acquisitions and new factory establishments carried out by business firms.
- The residential segment is expected to witness significant growth over the forecast period, Surge in disposable income coupled with lower housing interest rates in emerging economies is also expected to bode well for market growth over the forecast period.
- The demand for services such as urban planning services and project management services is expected to increase among architects to better manage their smart cities
Architectural Services Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
New entrants backed by venture capital firms are entering the market with more innovative designs and advanced solutions. This is increasing competition in the market. Moreover, major players are focused on acquiring significant shares in the market by focusing on strategic acquisitions.
Some of the prominent players in the architectural services market include:
- Foster + Partners
- IBI Group
- Jacobs Engineering Group
- Nikken Sekkei Ltd.
- Perkins Eastman
- Perkins and Will
Order a free sample PDF of the Architectural Services Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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