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Architectural, Engineering Consultants And Related Services market forecast 2023-2032 - major trends, lucrative segments and fastest growing regions
Architectural, Engineering Consultants And Related Services Market
The architectural, engineering consultants and related services market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. Global investment on smart city projects by towns, businesses and private individuals increased to more than US$608 billion in 2019, and is expected to rise exponentially, hitting more than US$1 trillion nationwide by 2024. For instance, in order to support the development of smart cities, the government of India allocated Rs. 6,450 crore (US$ 868 million) Smart Cities Mission in India in the Under Union Budget 2021-22. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready or are under construction globally and around 500 of these projects are in China. As investments in the construction of smart cities rise, demand for architectural and engineering services is expected to increase, thereby driving market growth.
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Metaverse architecture is a key trend gaining popularity in the architectural, engineering consultants and related services market. The practice of developing buildings for an immersive virtual world where users may virtually interact with 3D models is known as metaverse architecture . Architects in the metaverse frequently redesign existing physical structures in the virtual world, such as buildings and monuments. The metaverse uses virtual reality to create a 3D environment with elements such as sight, touch and sound. For example, in March 2022, Zigbee Home Automation (ZHA), a London-based multi-disciplinary consulting firm, designed a virtual self-governed city in the metaverse. The city incorporates the distinctive design elements of ZHA in the form of a city hall, coworking areas, and even shops selling non-fungible tokens (NFTs).
Opportunities -The top opportunities in the architectural, engineering consultants and related services market segmented by type will arise in engineering services segment, which will gain $214.0 billion of global annual sales by 2027. The top opportunities in the engineering services market segmented by type will arise in civil engineering services segment, which will gain $88.28 billion of global annual sales by 2027. The top opportunities in the architectural services market segmented by type will arise in building and structural architectural services segment, which will gain $64.14 billion of global annual sales by 2027. The top opportunities in the geophysical services market segmented by type will arise in geophysical data collection segment, which will gain $0.74 billion of global annual sales by 2027. The top opportunities in the architectural, engineering consultants and related services market segmented by application will arise in other applications segment, which will gain $113.76 billion of global annual sales by 2027. The top opportunities in the architectural, engineering consultants and related services market segmented by service provider will arise in small and medium enterprise segment, which will gain $230.43 billion of global annual sales by 2027. The architectural, engineering consultants and related services market size will gain the most in the Chinaat $54.33 billion.
Architectural, Engineering Consultants And Related Services Market Segmentation:
The Architectural, Engineering Consultants And Related Services market is segmented
By Type -
The architectural, engineering consultants and related services market is segmented by type into
a) Engineering Services
b) Architectural Services
c) Surveying & Mapping Services
d) Geophysical Services
e) Laboratory Testing Services
f) Building Inspection Services
g) Drafting Services
By Application -
The architectural, engineering consultants and related services market is segmented by application into
a) Road
b) Rail
c) Port
d) Airport
e) Pipeline
f) Power
g) Other Applications
By Service Provider-
The architectural, engineering consultants and related services market is segmented by service provider into
a) Large Enterprise
b) Small And Medium Enterprise
Major players in the Architectural, Engineering Consultants And Related Services market include Downer EDI Limited, WSP Global Inc., John Wood Group PLC, Jacobs Engineering Group, Inc., Fluor Corporation
The regions covered in the global Architectural, Engineering Consultants And Related Services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The latest report from The Business Research Company, 'Global Architectural, Engineering Consultants And Related Services Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.
Architectural, Engineering Consultants And Related Services Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
………………………………………………….
24. Key Mergers And Acquisitions
25. Market Background: Design, Research, Promotional And Consulting Services Market Characteristics
26. Opportunities And Strategies
27. Architectural, Engineering Consultants And Related Services Market, Conclusions And Recommendations
28. Appendix
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