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Architectural Services Market to Witness Significant Growth by 2032 || AECOM, Foster + Partners, Gensler, HDR Inc., IBI Group Inc
Architectural Services Market
Architectural Services Market Size, Growth Rate, And Forecast
The global architectural services market size is expected to grow from $334.55 billion in 2022 to $354.70 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global architectural services market size is expected to reach $439.37 billion in 2027 at a CAGR of 5.5%.
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Architectural Services Market Drivers
Increasing demand for construction activities is expected to propel the growth of the architectural services market going forward. Construction refers to an activity of putting together various elements to create a structure for a specific location, using a detailed design and plan. The architectural services market is used in construction to create architectural designs and plans and to make different elements to build that project structures, as a result, increasing demand for construction activities increases the demand for architectural services. For instance, in June 2021, according to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to US Census Bureau, The value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2 percent. Therefore, an increasing demand for construction activities is driving the growth of the architectural services market.
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Architectural Services Market Segments
• By Service Type: Architectural Advisory Services, Construction And Project Management Services, Engineering Services, Interior Design Services, Urban Planning Services, Other Service Types
• By End-User: Education, Government, Healthcare, Hospitality, Residential, Industrial, Retail, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the architectural services market.
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Architectural Services Market Key Players
Major competitors in the architectural services market are AECOM, Foster + Partners, Gensler, HDR Inc., IBI Group Inc., Jacobs Engineering Group, Nikken Sekkei Ltd., Perkins Eastman, Perkins and Will, Stantec Inc., Aedas, DP Architects Pvt. Ltd., HOCHTIEF Aktiengesellschaft (ACS Group), ATO Architects Ltd., Dar Al-Handashah, DLR Group.
The Business Research Company's "Global Architectural Services Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Architectural Services Market Include:
1. Executive Summary
2. Architectural Services Market Characteristics
3. Architectural Services Market Trends And Strategies
4. Architectural Services Market - Macro Economic Scenario
5. Architectural Services Market Size And Growth
………………
27. Architectural Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Architectural Services Market
29. Architectural Services Market Future Outlook and Potential Analysis
30. Appendix
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