Architectural Services Market to Grow at 4.93% During 2022-2027, Supported by Significant Expansion in the Construction Industry

According to the latest report by IMARC Group, titled "Architectural Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global architectural services market size reached US$ 333.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 442.6 Billion by 2027, exhibiting a growth rate (CAGR) of 4.93% during 2022-2027.

Architectural services are offered in connection with planning and designing residential, institutional, leisure, commercial, and industrial buildings, and structures by applying knowledge of design, construction procedures, zoning regulations, building codes and building materials. It involves concept design development, construction document preparation, and construction administration. Other services provided by architects include feasibility studies, architectural programming, and project management.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic.

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Global Architectural Services Market Trends:

The global market is majorly driven by the increasing construction activities, which is expected to support the demand for architectural services, such as construction and project management services and urban planning. Furthermore, numerous hospitals are focusing on improving patient care through the establishment of new facilities and reorganizing existing spaces. Apart from this, the hospitality sector is witnessing increasing tourism in developed and developing countries, which has led to the development of new hotels, resorts, and restaurants at tourist locations. Moreover, various businesses are opting for architectural services such as interior design, space planning, and schematic designs that help them attract more customers and enhance their stay experience. Besides this, the rapid adoption of virtual reality in the architectural service space is creating a positive outlook for the market.

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Key Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players:

• 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 Stantec Inc.

Breakup by Service Type:

• Architectural Advisory Services
• Construction and Project Management

Services

• Engineering Services
• Interior Designing Services
• Urban Planning Services
• Others

Breakup by End-Use:

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

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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