Architectural Services Market Outlook
The global architectural services market size was valued at USD 307,910 Million in 2020 and is projected to reach USD 448,046 Million by 2028, expanding at a CAGR of 4.8% during the forecast period. 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.
Key benefits of architectural services include
- Design expertise helps to handle design errors.
- Detailed and accurate drawings help to reduce cost significantly, due to reduction of design mistakes.
- Advantage of choosing the right material and finishes depending on the budget limit.
- Cost Efficiency
- Compliant with International Standards
Architectural Services Market Dynamics
Green building services include architecture, construction, engineering, and related activities, aiming to use the environment to create sustainable structures, responsible processes, and materials. Architecture services provide maps on minimal wastage of water, energy consumption, conservation of natural resources, resources that generate less waste, and create a healthy space for occupants.
3D printing aids in creating custom architectural models. Through architectural services, site masterplans, building plans, and unique concepts are easily brought to life. It creates interchangeable 3D models to help visualize ideas and make decisions.
The architectural services market size is growing, due to increased investment in developing infrastructure facilities across many business verticals. Governments in several developing countries are currently concentrating on strengthening the infrastructure.
Architectural services include the latest techniques and trends in furniture designing and modelling. It involves designers and manufacturers to create furniture that enhances work environment, productivity, and aids in effective space management. Scarcity of resources and lack of personnel with design knowledge and experience restrains the market.
The architectural services market is sensitive to changes in the regulatory environment. The construction sector is rapidly changing and the rules that govern it are continuously changing as well. The architectural services market is vulnerable to changing regulatory conditions. The construction industry is changing rapidly, and the laws and regulations that define its boundaries are constantly changing.
Artificial Intelligence (AI) aids in evaluating data and building models, which saves time and effort of architects. AI is a tool for estimating many aspects of the construction of a building. The market is anticipated to benefit from ongoing investments in smart city projects as well as rural-urban development projects worldwide. The government is investing heavily in smart city construction.
Architectural Services Market Segment Insights
Types Segment Analysis
In terms of types, the architectural services market is segmented into architectural design services, construction and project management services, engineering services, interior design services, urban planning services, and others. The architectural design services segment accounted for a significant share of the market in 2019, owing to the increasing adoption of technology.
End-Uses Segment Analysis
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. The Residential segment is expected to dominate the market in the coming years, owing to rising demand for construction, increasing living standards, and rising disposable incomes.
Regional Analysis
On the basis of regions, the market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The architectural service market is growing in Asia Pacific, owing to increasing construction activities in the region.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global architectural services market
- Historical, current, and projected market size in terms of value (USD million).
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
Segments
Types
- Architectural Design Services
- Construction & Project Management Services
- Engineering Services
- Interior Design Services
- Urban Planning Services
- Others
End-uses
- Civic
- Cultural
- Education
- Healthcare
- Hotel & Hospitality
- Master Planning
- Office & Corporate
- Residential
- Retail
- Sport
- Transportation & Infrastructure
- Mixed
Regions
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North America
-
Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
-
Asia
- China
- Japan
- South Korea
- India
- South East Asia
- Rest of the Asia
-
-
Australasia
- Australia
- New Zealand
- Rest of Australasia
-
South America
- Argentina
- Brazil
- Chile
- Rest of South America
-
Middle East
- GCC
- South Africa
- Turkey
- Rest of Middle East & Africa
-
Africa
- Nigeria
- Egypt
- South Africa
- Rest of Africa
Key Players
- Gensler
- AECOM
- HDR Inc
- IBI Group
- 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
- Aedas
Competitive Landscape
Key players operating in the global architectural services market include 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.
- AECOM is expected to continue its engineer role on Edmonton Valley Line light rail transit extension as the project enters the next phase. This is anticipated to economically benefit the company and help overcome the impact of Covid-19 on its revenue.