Architectural Services Market Overview:
The global Architectural Services Market is expected to witness significant growth in the coming years. The market is projected to reach a value of USD 630.4 billion by 2030, at a CAGR of 8.32% during the forecast period 2023-2030.
Key Players:
Some of the key players operating in the architectural services market are:
- AECOM
- ARUP
- Atkins
- Jacobs Engineering Group
- NBBJ
- Perkins & Will
- SOM
- Stantec
- Thornton Tomasetti
The architectural services market is highly competitive. The key players are focusing on expanding their geographic reach, acquiring smaller players, and investing in research and development to offer innovative services.
Market Segmentation:
The architectural services market is segmented by service type, end-user, and region.
- By service type, the market is segmented into urban planning services, construction & project management services, engineering services, interior design services, architectural advisory services, and others. The urban planning services segment is expected to be the fastest-growing segment during the forecast period. This is due to the growing trend of smart city development.
- By end-user, the market is segmented into hospitality, education, government, residential, healthcare, industrial, and others. The residential segment is expected to be the largest segment during the forecast period. This is due to the increasing demand for housing in urban areas.
- By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to be the largest market for architectural services during the forecast period. This is due to the high demand for sustainable and energy-efficient buildings in the region.
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Drivers of the Market:
The growth of the architectural services industry can be attributed to a number of factors, including the increasing demand for sustainable and energy-efficient buildings, the rising trend of urbanization, and the growing government focus on infrastructure development.
- Sustainable and energy-efficient buildings
There is a growing awareness among consumers about the importance of sustainability and energy efficiency. This has led to an increased demand for sustainable and energy-efficient buildings. Architectural services providers can help clients design and construct buildings that meet these requirements.
- Rising trend of urbanization
The world is becoming increasingly urbanized. This is leading to an increase in the demand for housing, commercial space, and infrastructure in urban areas. Architectural services providers can help clients design and construct buildings that meet the needs of urban environments.
- Growing government focus on infrastructure development
Governments around the world are investing heavily in infrastructure development. This includes the construction of roads, bridges, airports, hospitals, schools, and other public buildings. Architectural services providers can help governments design and construct these buildings.
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