According to a recent market study published by Growth Market Reports, titled, "Global Architectural Services Market by Types, End-uses, and Regions: Size, Share, Trends, and Opportunity Analysis, 2018-2028", the market was valued at USD 3,07,910 million in 2020 and is expected to expand at a CAGR of 5.1% by 2028. The architectural services market is projected to expand at a rapid pace globally, due to rising demand for building design and architectural services in residential, commercial, and public sectors, which are constantly being upgraded as a result of infrastructural development in various developed and developing countries of the world.

In terms of types, the global architectural services market is segmented into architectural design services, construction and project management services, engineering services, interior design services, urban planning services, and others. Based on end-uses, the market is categorized as civic, cultural, education, healthcare, hotel & hospitality, master planning, office & corporate, residential, retail, sport, transportation & infrastructure, and mixed. Based on regions, the global architectural services market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Architectural services include design, preparation of construction documents, and construction management. Architects provide various services including feasibility studies, architectural planning, and project management. Architectural service refers to any practice involving the construction of a structure or combination of architectural design, art, and science, use of space inside and around the structure, or any practice of architectural design, including but not specifically limited to plan designs, design development, preparation of construction contract documents, and management of construction contracts.

As per Growth Market Reports industry analyst, Rajat Verma, “The spread of COVID-19 has had a negative impact on the global architectural service market players on many fronts and outside factors, including temporary fluctuation in consumer demand and potential effects on the market from an uncertain economic perspective. The COVID-19 outbreak had a substantial impact on the market, resulting in low sales and low GDP. COVID-19 caused services of various companies around the world to come to a halt in order to slow the spread of virus.

The economy of numerous countries has been badly hit as a result of COVID-19 and purchasing power of companies is shrinking rapidly, due to slow commercial activity. The coronavirus pandemic revealed supply chain vulnerabilities and emphasized on the complexities of globalized supply chains and the importance of having a stable supply chain to nullify trade barricades. Key players of the global architectural services market are adopting different approaches to build robustness and resilience in supply chains, majorly through mergers & acquisitions. Rapid growth of urbanization aids in expanding construction industries, including residential and commercial projects, which is expected to boost the demand for global architectural services in the coming years.”

Key Takeaways from the Study

  • The market in North America is expected to expand at a significant CAGR during the forecast, due to increasing attraction of lavish interiors among people.
  • The market in Asia is expected to expand at a significant CAGR during the forecast, due to increased investments in smart city construction in the region.

Report Scope

Report Metric

Details

Market Value in 2020

USD 3,07,910.0 Million

Market Growth Rate (from 2021 to 2028)

5.1%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Type, End uses and Regions

Region Scope

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Key Companies Profiled

Gensler, AECOM, IBI Group, HDR Inc, NIKKEN SEKKEI LTD, Perkins and Eastman, KKR Bose design services Pvt Ltd, Stantec Inc, Jacobs Engineering Group Inc., DP ARCHITECTS PTE LTD, Perkins and Will, The Korte Company, Foster + Partners, HKS, and Aedas.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Commercial, Residential, Industrial, Engineering firms, Building Design and Construction organizations, Government End-users.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Association of Architecture Organizations, Free trade agreement.