The Global Architectural Services Market size is expected to reach $470 billion by 2027, rising at a market growth of 4.7% CAGR during the forecast period. With the rapid urbanization in numerous established and emerging countries, there is a continuous up-gradation in building design and architectural services in the commercial, residential, as well as public sectors.
The architecture description languages, CAD drawing, and project designs are examples of outsourcing of engineering services which are increasing with a fast pace due to massive demand for the role of Technology in architecture are continually growing. In the addition to it, the introduction of advanced technology VR and AR are also playing a substantial role in building design. Moreover, architecture firms have an advantage similar to virtual reality that offers clients new ideas and concepts by communicating with them. Advanced solutions include 3D scanning technology, 3D modeling, and the use of high-end designing software. These solutions are boosting the growth of the market during the forecast years.
The role of technology in architecture is ubiquitous. It is expected to witness massive demand as the digital age is also evolving. It has been witnessed that digital advancements such as VR and AR are remarkable technological advancement and is set to play an important role in designing the building. The demand for green building is increasing as sustainable construction gives crucial advantages and opens new business avenues. These factors are driving the demand for architecture services in the market. Moreover, the return on investment can also be improved significantly, and the occupancy by renting is increased by significant percentage. Similarly, it is expected that there can be important savings in operating costs. The demand for basic bioclimatic design and conceptual engineering building construction is increasing the growth of the market.
The market is expected to get benefitted from technology integration and also from ongoing investments in smart city projects, and rural-urban development projects all across the world. Due to the outbreak of the COVID-19 pandemic, it becomes necessary to track testing results, patients, and deaths. It has attracted more investment in upgrading infrastructure and the adoption of advanced technology in smart cities has been increases. Tools like Power BI are used in Los Angeles, and New Orleans in the U.S. in order to track major trends during the COVID-19. Also, the Chinese government has revitalized its “new infrastructure initiative” program so as to increase its investment in adopting smart city technology. Smart cities are among large infrastructure projects that require a comprehensive feasibility check to understand the project viability and risk analysis. Therefore, this aspect is driving the need for professional expertise. In this pandemic situation, architectural services the preferred choice of the architectures that will help them in streamlining activities in project development.
Based on Service Type, the market is segmented into Construction & Project Management Services, Architectural Advisory Services, Interior Design Services, Urban Planning Services, Engineering Services and Others. The architectural services demand in the construction and project management segment acquired the highest revenue share in 2020. This trend is likely to continue over the forecast years. The expert inputs are required for contract negotiations, project control, quality management, construction designing, and risk analysis. Thus, specialized professionals and teams will work on any project and they will also contribute to the growth of the industry growth. Such professionals are occupying a majority position in the service revenue growth matrix, thus driving the segment growth.
Based on End User, the market is segmented into Industrial, Government, Healthcare, Residential, Retail, Hospitality, Education and Others. The architectural services demand was huge in the industrial sector in 2020. Adoption of technologies and rapid industrialization is an important aspect that is driving the adoption of these services in the industrial sector. The expansion plans of factories, business units, and distribution centers across countries over the years resulting in the increasing demand for engineering and architectural services in the industrial sector.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 332.2 Billion |
| Market size forecast in 2027 | USD 470 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 4.7% from 2021 to 2027 |
| Number of Pages | 210 |
| Number of Tables | 340 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Service Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The focus on energy-optimization technologies is increasing in developed countries including the US. The need for green planning and architecture has also gained momentum in this region. Thus, it is expected to boost the demand for architectural services in North America. A number of architects have joined the mission of adopting environment-friendly construction practices.
Free Valuable Insights: Global Architectural Services Market size to reach USD 470 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AECOM, IBI Group, Inc., Foster + Partners Group Limited, Gensler, HKS, Inc., PCL Industrial Constructors, Inc., HDR, Inc., HOK Group, Inc., DP Architects Pte. Ltd., and Aedas.
By Service Type
By End User
By Geography
The architectural services market size is projected to reach USD 470 billion by 2027.
Need for optimization and planning within the construction industry are driving the market in coming years, however, High cost of architectural services have limited the growth of the market.
Due to the outbreak of the COVID-19 pandemic, it becomes necessary to track testing results, patients, and deaths. It has attracted more investment in upgrading infrastructure and the adoption of advanced technology in smart cities has been increases.
The demand for architectural services in terms of urban planning is expected to show the fastest growth, and segment likely to register significant growth in the forecast period.
The Asia-Pacific would showcase the faster growth rate in the architectural services market throughout the forecast period.
AECOM, IBI Group, Inc., Foster + Partners Group Limited, Gensler, HKS, Inc., PCL Industrial Constructors, Inc., HDR, Inc., HOK Group, Inc., DP Architects Pte. Ltd., and Aedas.
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