Global Architectural Services Market Report and Forecast 2024-2032

Global Architectural Services Market Size

The global architectural services market attained a value of nearly USD 381.20 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.3% to reach approximately USD 559.35 billion by 2032.      

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The Asia Pacific Region is Expected to Hold the Largest Share in Architectural Services Industry

The population in the Asia Pacific is rising at a tremendous rate. The governments in the Asia Pacific are taking initiatives to improve the housing sector to accommodate the growing population. In addition, the Chinese consulting businesses are expected to witness strong growth in the forecast period. Smart technologies, such as cloud computing, the internet of things, and big data, are being embraced by Chinese government officials to expand, improve, and automate data collecting and analysis for mass surveillance. Further, the Smart City Mission in India will be run as a Centrally Sponsored Scheme (CSS), with the Central Government proposing to fund Rs. 48,000 crores over five years, or Rs. 100 crore per city each year on average. In the next two decades, the Asia Pacific's urbanisation rate is expected to climb from the current percentage of around 40% to over 60%. Nearly all the Asia Pacific's population expansion is predicted to be absorbed by its urban centers.

Architectural Services Market Segmentation

Architectural services typically involve concept design development, construction document preparation, and construction administration. Additional services provided by architects include feasibility studies, architectural programming, and project management.

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On the basis of service types, the market is divided into:

• Architectural Advisory Services
• Construction and Project Management Services 
• Engineering Services
• Interior Design Services 
• Urban Planning Services
• Others

The market can be broadly categorised on the basis of its end-user segments into:

• Education 
• Government
• Healthcare
• Hospitality
• Residential
• Industrial 
• Retail
• Others

The EMR report looks into the regional markets of architectural services like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Government Incentives to Promote Green Building and Eco-Friendly Constructions to Boost the Industry Growth

The integration of technology with architecture has opened up new opportunities in the architectural service industry. The internet of things, virtual reality, and 3D printing have all led to easy and efficient infrastructure development. The world is moving towards sustainability in almost every sector, which has enhanced the demand for environment- friendly infrastructure in many sectors. The government is providing huge incentives for green building and environment-friendly constructions. To promote the green building movement in the country, the IGBC collaborates closely with a number of federal and state government entities. The Green Rating Systems of the IGBC has been recognised by a number of federal and state government entities. Due to the COVID-19 pandemic, the importance of appropriate housing and accommodation has been reinforced. Moreover, as opposed to commercial architecture, more real estate housing sectors are investing in innovative housing, further driving the market growth.
 

Key Industry Players in the Global Architectural Services Industry

The report presents a detailed analysis of the following key players in the global architectural services market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• AECOM
• Aedas
• DP Architects Pte Ltd
• Foster and Partners
• Gensler
• HKS Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report