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Built And Natural Environment Consulting Market Growth, Trend, Outlook And Analysis 2024-2033
Built And Natural Environment Consulting Market Growth
According to The Business Research Company's, The built and natural environment consulting market size has grown strongly in recent years. It will grow from $64.27 billion in 2023 to $68.81 billion in 2024 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to environmental regulations, urbanization and infrastructure development, climate change mitigation and adaptation, public health concerns.
The built and natural environment consulting market size is expected to see strong growth in the next few years. It will grow to $85.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to sustainability initiatives and ESG reporting, resilience planning in response to climate change, green infrastructure and nature-based solutions, circular economy and waste management, emerging technologies and digitalization. Major trends in the forecast period include integration of nature-based solutions, adoption of digital twin technology, focus on health and well-being, resilience planning for climate risks, rise of circular economy practices.
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Market Drivers and Trends:
The growth in the infrastructure sector is expected to propel the built and natural environment consulting market going forward. The collaboration between infrastructure development and built and natural environment consulting is critical for establishing sustainable, adaptable, and functional communities. The significant connection indicates that infrastructure projects are aligned with sustainability objectives and community demands and are useful and cost-effective. For instance, in 2023, according to the USAFacts, a US-based nonpartisan, not-for-profit civic initiative that provides easy access to government data, highway transportation accounted for around 44% of federal transportation and infrastructure spending in 2023, with air travel accounting for another 23%. Rail and mass transit (22%) and water (10%) accounted for the remaining percentage. Moreover, the federal government spent $44.8 billion on infrastructure in 2023, with an additional $81.5 billion allocated to states. Therefore, the growing demand from the infrastructure sector is driving the growth of the built and natural environment consulting market.
Major companies operating in the built and natural environment consulting market are focused on developing ESG and sustainability EHS Software to advance their market offering and to highlight the product portfolio with advanced solutions. ESG (Environmental, Social, and Governance) and sustainability software refer to software solutions that assist organizations in gathering, analyzing, and reporting on their sustainability activities. These tools help firms assess their environmental, social, and governance impacts. For instance, in October 2023, KPA, a US-based developer of environmental, health and safety and human resources software, launched ESG and Sustainability software for KPA EHS Software, powered by Brightest. This innovative software is designed to help organizations collect critical data, accelerate their work, and create positive outcomes for stakeholders and the planet. The ESG and Sustainability software offers a centralized system for supplier environment, social, and governance (ESG) data gathering, assessment, risk management, governance, and reporting. It provides a flexible, streamlined tool for centralizing, collecting, and automating data from various sources such as surveys, materiality assessments, spreadsheets, PDFs, and business systems. Additionally, the software includes Scope 1-2-3 CO2 accounting capabilities to measure all GHG emissions and carbon accounting footprints.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Bechtel Corporation, AECOM, WSP Global Inc., Worley, SNC-Lavalin Group Inc., Wood plc, Stantec Inc., Parsons Corporation, Jacobs Engineering Group Inc., Tetra Tech Inc., Black & Veatch, HDR Inc., Mott MacDonald, Ramboll Group, Arup, GHD Group, HNTB Corporation, Terracon Consultants Inc., Arcadis, Environmental Resources Management (ERM), Dewberry, Langan Engineering and Environmental Services, Kleinfelder, SWCA Environmental Consultants, Kimley-Horn, Moffatt & Nichol, Cardno, Michael Baker International
Built And Natural Environment Consulting Market 2024 Key Insights:
• The built and natural environment consulting market is expected to grow to $85.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rising Demand In Infrastructure Sector Fuels Growth In Built And Natural Environment Consulting
• Innovate Software Solutions For Sustainable Built Environments
• North America was the largest region in the built and natural environment consulting market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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