Architectural Services Market is accounted for USD 334 billion in 2020, growing at a robust CAGR of 4.7% during forecast period

Introduction of the Architectural Services Market Report

Architectural services refer to the planning and design of buildings and spaces and the preparation and administration of construction contracts. The architectural services offer a variety of services including architectural programming and project management, architectural advisory services, construction and project management services, engineering services, interior design service, urban planning services, and others.

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Market Dynamic

Key Drivers and Emerging Trends

The growing investments in rural-urban infrastructure projects, the rising number of smart cities, and the increasing demand for architectural services for the renovation of aging infrastructure in developed and developing economies are some of the factors expected to drive the growth of the market. According to the United Nations, the world population would reach eight billion by 2030. Growing population, rising inclination towards developments in transport infrastructures, and growing tourism industry has further expected to augment the growth of the architectural services market size over the forecast period. Moreover, technological advancement that includes the implementation of BIM, 3D technology, CAD applications, VR, and AR technologies in building design is expected to provide growth opportunities to the architectural services market during the forecast period.

Restraint in the Architectural Services Market

However, the outbreak of COVID-19 has negatively affected the construction projects owing to the labor and fund shortage, which is expected to restrict construction activities. This is expected to restraint the growth of the architectural services market.

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Service – Segment Analysis

Based on the service, urban planning service is expected to grow at a high CAGR over the forecast period primarily due to the growing urban population worldwide, the growing demand for effective public transport planning, and the proper distribution of services including hospitals, schools, water, electricity, and waste removal among others. According to United Nations, 55% of the world’s population lives in urban areas, and it is expected to increase to 68% by 2050. This is further expected to augment the growth of the urban planning services market in the coming years.

End-User – Segment Analysis

Based on the end-user, the industrial segment is expected to grow substantially over the forecast period owing to the rapid industrialization, a growing number of factories, distribution centers, and business units, and the rising adoption of engineering and interior designing services. Moreover, the growing number of industries including automotive, shipbuilding, manufacturing, and others is expected to drive the growth of the architectural services market over the forecast period.

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Regional – Segment Analysis:

Asia-Pacific is expected to grow at a prominent rate over the forecast period primarily due to the growing population and the rising number of industries in India, China, Japan, and South Korea. Additionally, according to the UN, Asia accounts for nearly 54% of the world’s urban population. Moreover, government smart cities projects including Taipei Smart City Living Lab project, Taiwan; Smart Cities Mission, India; Haikou City Brain, China, and other projects are further accelerating the market growth in the region.

Top Market Players

Several leading Architectural Services companies operating in the market, include, IBI Group, Aedas, AECOM, Gensler, HKS Inc., Hardlines Design Company, Stantec Inc., Arcadis, Skidmore, Owings & Merrill, and HDR, Inc., among others.

Key Developments:

• • In 2019, HDR, Inc. has been awarded a $38.7 million, five-year engineering design services contract by the Board of Harbor Commissioners of Long Beach, California. The project is expected to streamline rail operations and help in reducing congestion at the port.

Segments covered in the Report:

The global Architectural Services market has been segmented on the basis of service, end-user, and key regions. Based on service, the market is segmented into architectural advisory services, construction and project management services, engineering services, interior design service, urban planning service, and others. Based on the end-user, the market is segmented into education, government, healthcare, hospitality, industrial, residential, retail, and others.

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Key questions answered in this research report:

• • At what pace is global Architectural Services market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Architectural Services Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Architectural Services Market?
  • Which service generated maximum revenues in 2020 and identify the most promising service during the forecast period?
  • What are the various end-users of global Architectural Services Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Architectural Services Market by Service

• • Architectural Advisory Services
  • Construction and Project Management Services
  • Engineering services
  • Interior Design Service
  • Urban Planning Service
  • Others

Global Architectural Services Market by End-User

• • Education
  • Government
  • Healthcare
  • Hospitality
  • Industrial
  • Residential
  • Retail
  • Others

Global Architectural Services Market by Region

• • North America Architectural Services Market (Option 1: As a part of the free 25% customization)
    • By Service
    • By End-User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Architectural Services Market (Option 2: As a part of the free 25% customization)
    • By Service
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Architectural Services Market (Option 3: As a part of the free 25% customization)
    • By Service
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Architectural Services Market (Option 4: As a part of the free 25% customization)
    • By Service
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Architectural Services Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBI Group
  • Aedas
  • AECOM
  • Gensler
  • HKS Inc.
  • Hardlines Design Company
  • Stantec Inc.
  • Arcadis
  • Skidmore, Owings & Merrill
  • HDR, Inc.