USD 342.6 billion
Architectural Service Market Size, Share, Growth Analysis, By Service(Architectural Advisory Services, Construction, Project Management Services, Engineering Services), By End-User(Education, Government, Healthcare, Hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG60L2001 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
75
|Figures:
75
Architectural Service Market Insights
Architectural Service Market size was valued at USD 342.6 billion in 2019 and is poised to grow from USD 359.9 billion in 2023 to USD 547.1 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
Architectural services generally involve concept design creation, construction document preparation, and construction administration. Architects also offer a wide range of other services, such as feasibility studies, architectural programming, and project management. Rapid urbanisation in emerging nations like India and Brazil is driving more residential and commercial development activity. Furthermore, governments are focusing on implementing affordable housing developments in a variety of nations. This increase in building activity is likely to drive demand for architectural services such as construction and project management services, as well as urban planning, increasing Architectural Service Market growth. Businesses are turning to architectural services including interior design, space planning, and schematic designs to attract more consumers and improve their stay experience. Furthermore, key companies’ focus on improving their operations and client base through strategic collaborations is projected to boost Architectural Service Market growth. Gensler, a worldwide architectural services supplier, announced a partnership with Forge Development Partners in January 2021. As part of this collaboration, Gensler was named chief architect and interior designer for all Forge Development Partners projects. This collaboration aided Gensler in growing its company by catering to Forge projects.
Although the industry is predicted to expand rapidly, the high prices associated with architectural services are expected to be a barrier. Furthermore, the growing shortage of experienced workers and suitable design expertise is impeding industry expansion.
US Architectural Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial
Fastest Growth
Industrial
Growth Rate
4.8% CAGR
Global Architectural Services Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Architectural Service Market Segmental Analysis
Global Architectural Service Market is segmented based on the service, end-user, and region. Based on services, the architectural services market is segmented into architectural advisory services, construction and project management services, engineering services, interior design services, urban planning services, building code counselling and interpretation consulting services, legal technical requirement compliance counselling services, and others. Based on end-user, the global architectural service market is segmented into education, government, healthcare, hospitality, residential, industrial, retail, and others. Based on region, the Architectural Service Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Architectural Service Market Analysis by Service
The construction and project management category accounted for more than 34.0% of revenue in 2021 and is predicted to rise rapidly in the following years. Construction and project management are critical components of any project. As construction activities increase, so does the demand for construction and project management services for responsibilities such as project life cycle management, cost control, scheduling, and risk management.
The urban planning category is predicted to develop rapidly in the Architectural Service Market during the forecast period. This is due to increased government initiatives for urban development. Furthermore, increased demand for smart solutions to manage and implement efficient plans, as well as an increase in the number of residential projects, are likely to drive category growth.
Interior design services offered by companies typically include everything related to home design—from interior structural changes to décor items, furniture, etc. In the present global situation, consumer experiences and leisure activities are evolving. As individuals become wealthier, they purchase new houses or renovate old ones. Interior designers and architects are imaginative and influence market designs. In the market for kitchen and bath areas, there is a growing trend of customisation and personalisation. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Architectural Service Market Analysis by End-User
In 2021, the industrial category led the Architectural Service Market, accounting for more than 45.0% of total sales. This may be ascribed to global industrialization, as well as increased acquisitions and new factory setups carried out by corporate enterprises. Furthermore, rising environmental concerns and endeavours by company owners to establish green buildings are projected to boost demand for architectural consultancy and interior design services. This is projected to benefit segment growth.
Over the projected period, the residential segment is predicted to rise significantly. An increase in disposable income combined with reduced home financing rates in emerging nations is also expected to augur well for market expansion. Furthermore, increased urbanisation in emerging countries' tier-II cities is likely to fuel demand for architectural services throughout the projection period. Furthermore, to better manage their smart cities projects, architects are predicted to boost their need for services such as urban planning and project management.
Global Architectural Services Market By End-use
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Architectural Service Market Regional Insights
Asia Pacific dominated the global Architectural Service Market, accounting for more than 36.0% of total revenue in 2021. Over the projection period, the category is predicted to increase steadily. The fast urbanisation, expanding population, and increased residential and industrial building projects in this region may all be ascribed to the region's growth. Because of the presence of large manufacturers and their expanding attempts to develop new production units, China dominated the market for architectural services.
Europe accounted for a sizable portion of market sales. This market's expansion may be linked to the IT industry's thriving construction sector as a result of increased investments and new infrastructure development projects. The gradual resume of building of numerous data centre facilities that were temporarily halted owing to the COVID-19 pandemic, as well as the start of new IT projects, are likely to revitalise the architectural services industry throughout the projection period.
Global Architectural Services Market By Region
- Largest
- Fastest
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Architectural Service Market Dynamics
Architectural Service Market Driver
- The Architectural Service Market is being driven by the use of 3D printing. Architecture 3D printing is a developing use of additive manufacturing. 3D printing provides the most direct connection between on-screen display and touch and sensation representation. Technology is fast expanding, and costs are falling. It is quickly becoming the new media for presenting a project, with savings of up to 75% and turnaround times of hours or days. ICON, a construction technology start-up, and New Story, a housing nonprofit, recently revealed their version of a 3D printed house, which was created in less than 24 hours and cost less than USD 10,000. Meanwhile, the Office of the Future in Dubai is touted to be the world's first 3D printed office.
Architectural Service Market Restraint
- To ensure efficient company performance and management (through the use of geographic information systems (GIS), remote sensing, Building information modelling (BIM), and Big data solutions), architectural industry professionals must learn new skills and expertise. The market's expansion is hampered by a scarcity of resources for these talents.
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Architectural Service Market Competitive Landscape
Global Architectural Services Market holds great potential for international and regional players. Emerging market players, especially from developing countries, are expected to have more opportunities to enter the market. Increasing establishment of government initiatives and increasing foreign investment to develop the sector, are expected to spur industry growth in the coming years. Overall, the global Architectural Service Market is highly competitive and dependent on product development and technological advancements. Industry players are striving to match local tastes and gain a competitive advantage over others. New entrants backed by venture capital firms are entering the market with more innovative designs and advanced solutions. This is increasing competition in the market. Moreover, major players are focused on acquiring significant shares in the Architectural Service Market by focusing on strategic acquisitions.
Architectural Service Market Top Player's Company Profiles
- AECOM
- Gensler
- Jacobs Engineering Group
- Perkins and Will
- HOK
- HDR, Inc.
- Stantec
- IBI Group
- CallisonRTKL
- Arup
- Nikken Sekkei
- Woods Bagot
- SOM
- HKS, Inc.
- CannonDesign
- NBBJ
- Zaha Hadid Architects
- Foster + Partners
- BDP
- Kohn Pedersen Fox Associates (KPF)
Architectural Service Market Recent Developments
- On September 2022, The Hyderabad-based startup is an aggregator platform that strives to simplify the house construction process with end-to-end services. It enables customers to build their houses by connecting them with people in the construction industry.
- On September 2022, Interior design studio and retail shop plans to bring a ‘fresh look’ to Chelsea.
- In September 2021, Colliers, a professional services and investment management firm, will collaborate with Bergmann, a design and architectural service provider. Colliers hoped to expand its regional reach through this collaboration. Architects frequently confront difficulties conveying ideas and creating complicated projects. The use of virtual reality technology in architectural design allows architects to save time and money while maintaining great design precision. Virtual reality's increasing usage in the architectural service industry is projected to boost Architectural Service Market development.
Architectural Service Key Market Trends
- The increasing need for feasible waste management designs and the growing number of infrastructure development projects are two significant reasons pushing the use of architectural services. Architectural services are often utilised for facility management, retrofitting, refurbishing, and rehabilitation. Furthermore, rising per capita earnings and changing lifestyles are fuelling the market's need for new residences with opulent interior designs. In addition, with increased environmental concerns, industry participants are offering a variety of sustainable design services. Among these services are material effect on health analysis, design for well-being, ventilation and computational fluid dynamics, carbon accounting, and project sustainability evaluation. According to CBRE, real estate markets are humming with innovation, and the number of finished new buildings in the industrial, commercial, and multifamily sectors has gradually climbed over the previous three years throughout the world. High levels of building activity and strong market demand in the United States will attract the multifamily property market, necessitating an increase in architectural activities. The United Kingdom has a rich architectural history that ranges from historic landmarks to striking new modern designs. According to UK Construction Online, the population of London alone is expected to grow by one million over the next decade, requiring around 40,320 new houses every year. One hundred thousand additional dwellings are built by 2021.
Architectural Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Architectural Services Market analysis, with increased building activity internationally, the category is projected to maintain its market leadership. Over the projection period, Asia Pacific is expected to dominate global market. This can be ascribed to increased new building activity in the region's healthcare and residential sectors. In 2021, the construction and project management services category led the market, accounting for more than 30.0% of total revenue. Technological advancements will be critical in the spread of architectural services. Implementing BIM or sophisticated design techniques/software will provide you a competitive advantage. The standardisation of rules controlling the architectural services business will aid in worldwide market expansion. Policies will assist to streamline standards pertaining to complicated design or technical requirements, hence ensuring a fair playing field for service providers worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 342.6 billion |
| Market size value in 2031 | USD 547.1 billion |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Architectural Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Architectural Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Architectural Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Architectural Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Architectural Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Architectural Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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