Architectural Services Market Insights
The global architectural services market is expected to grow at a significant CAGR over the forecast period due to growing construction sector. Along with this, increasing demand for design services such as interior designing and urban planning among others is also likely to stimulate the market for architectural services.
The increased inclination of architectural industry towards consultancy service is expected to augment the market growth over the coming years. Moreover, growing demand for green building across the globe is also anticipated to foster market growth over the coming years. However, stringent government regulations along with high cost associated with software and services are projected to affect the profitability of market.
Architectural Services Market: Services Insights
On the basis of services, the architectural services market is segmented into interior design services, urban planning services, architectural advisory services, construction & project management services, and engineering services among others. The market for construction & project management is expected to occupy the highest share owing to rising population coupled with growing investments for infrastructure development across the world.
The interior design services segment is expected to grow at a significant CAGR over the forecast period on account of increasing demand for renovation and remodelling of old buildings.
The urban planning segment is also likely to witness considerable growth over the forecast period due to growing population across the world. Moreover, government programmes related to smart cities in developing countries such as India is projected to foster demand over the coming years.
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Architectural Services Market: Vertical Insights
On the basis of vertical, the market is segmented into education, government, healthcare, hospitality, industrial, residential and retail among others. Out of these, residential segment is anticipated to record the highest growth over the forecast period owing to growing population coupled with increasing disposable income of consumers. Moreover, increasing private investment for improving infrastructure in various developing countries is also likely to favor the market.
The government segment is also projected to grow significantly over the years on account of rising government investment on improving infrastructure. Moreover, projects like smart cities in India are also anticipated to stimulate market growth.
Architectural Services Market: Regional Insights
Asia Pacific occupied the largest share of global architectural services market in the past few years. This can be attributed to the presence of key manufacturers coupled with growing infrastructure activities going across the region. Moreover, availability of cheap labor is also likely to boost market growth. Middle East and Latin America are also expected to experience high growth rate over the coming years due to rising infrastructural development.
Architectural Services Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Architectural Services Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase architectural services over the coming years. Some leading consumers of this market are McKesson Corp., Cerner Corp., Vinci, and Bechtel among others.
Architectural Services Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. Some of the prominent players operating in the market include Gensler (The U.S.), AECOM (The U.S.), Aedas (Hong Kong), IBI Group Inc. (Canada), HDR Inc. (The U.S.), Foster & Partners Limited (UK), HOCHTIEF AG (Germany), PCL Constructors Inc. (Canada), and Stantec (Canada).
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