USD 395.17 billion
Architectural Services Market Size, Share, Growth Analysis, By Service Type(Architectural Advisory Services, Construction And Project Management Services, Engineering Services, Interior Design Services), By End-use(Education, Government, Healthcare, Hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2120 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
73
|Figures:
75
Architectural Services Market Insights
Architectural Services Market size was valued at USD 395.17 billion in 2023 and is expected to grow from USD 433.9 billion in 2024 to reach USD 834.84 billion by 2031, at a CAGR of 9.8% during the forecast period (2024-2031).
The primary purpose of the architectural services market is to provide clients with professional expertise and guidance in creating well-designed and functional spaces. The driving factors for the architectural services market is the global increase in construction activities. Rapid urbanization, population growth, and infrastructure development initiatives contribute to the demand for architectural services. The architectural services market offers significant opportunities. Growing awareness about sustainability and green building practices drives the demand for architects with expertise in energy-efficient design, renewable materials, and environmentally friendly construction practices. The global architectural services market serves the purpose of providing professional design expertise and solutions for construction projects. While facing challenges such as economic fluctuations and competition, the market benefits from the demand for sustainable design, technological advancements, and the drive towards creating functional and visually appealing structures. As construction activities and urbanization continue to grow, the architectural services market is poised for further development and innovation.
US Architectural Services Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Construction and Project Management Services
Fastest Growth
Construction and Project Management Services
Growth Rate
9.8% CAGR
Global Architectural Services Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Architectural Services Market Segmental Analysis
The global architectural services market is segmented based on service type, end-use, and region. By service type, the market is segmented into architectural advisory services, construction and project management services, engineering services, interior design services, urban planning services, building code counseling and interpretation consulting services, legal technical requirement compliance counseling services, and others. By end-use, the market is segmented into education, government, healthcare, hospitality, residential, industrial, retail, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Architectural Services Market Analysis by Service Type
In 2023, The construction and project management segment played a significant role in the global architectural services market, contributing to a substantial revenue share. This segment is anticipated to experience robust growth in the coming years. Construction and project management services are essential for the successful execution of construction projects. As construction activities continue to increase globally, there is a growing demand for professional services that oversee project life cycle management, cost control, scheduling, and risk management.
The urban planning segment is expected to witness noteworthy growth, with a projected compound annual growth rate (CAGR) of 6.4% during the forecast period. This growth can be attributed to the initiatives taken by governments worldwide to promote urban development and improve urban infrastructure. The rising number of residential projects, coupled with the increasing need for smart solutions to efficiently manage and deliver urban plans, are key factors driving the growth of this segment. The integration of technology and innovative urban planning approaches is expected to further fuel the growth of the urban planning segment in the architectural services market.
Architectural Services Market Analysis by End-use
The industrial segment emerged as the dominant sector in the global architectural services market, capturing a substantial revenue share in 2023. This dominance can be attributed to the rapid pace of industrialization observed worldwide, along with an increase in acquisitions and the establishment of new factories by businesses. Moreover, the growing concern for environmental sustainability has prompted business owners to construct green buildings, thereby driving the demand for architectural advisory and interior design services within the industrial sector. This favorable trend is expected to contribute to the growth of the segment. Furthermore, the availability of platforms and tools that enable businesses to enhance their market presence and streamline their operations is expected to further support market growth within the industrial segment.
The residential segment is projected to witness significant growth during the forecast period. Factors such as increased disposable income and lower housing interest rates in emerging economies are expected to create a conducive environment for market expansion. The rapid pace of urbanization observed in tier-II cities of emerging economies also contributes to the demand for architectural services. Additionally, architects are increasingly sought after for their expertise in urban planning and project management services, particularly in the context of smart cities projects. As the demand for these services continues to rise, it is expected to drive further growth within the residential segment of the architectural services market.
Global Architectural Services Market By Service Type
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Architectural Services Market Regional Insights
In 2023, the Asia Pacific region emerged as the dominant player in the global architectural services market, capturing the largest revenue share. This region is expected to continue its steady growth trajectory over the forecast period. The dominance of Asia Pacific can be attributed to several factors such as rapid urbanization, a growing population, and an increase in both residential and industrial construction projects. China, in particular, played a significant role in driving the market for architectural services due to the presence of major manufacturers and their efforts to establish new production plants.
Europe also accounted for a significant share in the architectural services market. The growth in this region can be attributed to the flourishing construction sector, particularly in the IT sector. Rising investments and the development of new infrastructure projects have contributed to the market's growth. The gradual resumption of construction activities for data center facilities, which were temporarily suspended due to the COVID-19 pandemic, along with the introduction of new IT projects, are expected to further drive the demand for architectural services in Europe over the forecast period.
Global Architectural Services Market By Region
- Largest
- Fastest
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Architectural Services Market Dynamics
Architectural Services Market Drivers
Sustainable Design and Green Building Initiatives
- With growing awareness of environmental concerns and the need for energy-efficient buildings, clients are demanding sustainable design solutions from architectural firms. In 2023, architectural firms witnessed a rise in projects incorporating renewable energy systems, green materials, and sustainable design principles. For example, many firms implemented strategies to reduce carbon emissions, enhance indoor air quality, and optimize energy performance in their designs.
Technological Advancements and Digitalization
- Technological advancements have significantly impacted the architectural services market. The integration of digital technologies, such as Building Information Modeling (BIM), virtual reality (VR), and augmented reality (AR), has revolutionized the design and visualization process. These technologies allow architects to create detailed 3D models, simulate real-world scenarios, and provide immersive experiences to clients. In 2023, architectural firms witnessed an increased adoption of these technologies to improve design accuracy, enhance collaboration among project stakeholders, and streamline project delivery.
Architectural Services Market Restraints
Economic Uncertainty and Volatility
- The architectural services market is influenced by economic conditions, and in 2023, global economic uncertainty and volatility posed a significant restraint. Economic downturns, geopolitical tensions, and disruptions caused by the COVID-19 pandemic impacted construction projects, leading to delays, cancellations, or reduced budgets. This uncertainty created challenges for architectural firms, particularly in terms of project pipeline, revenue generation, and financial stability.
Regulatory and Legal Challenges
- Architectural firms often face regulatory and legal challenges that can act as restraints on their operations. Compliance with building codes, zoning regulations, and environmental standards requires careful adherence to ensure projects meet the required standards and obtain necessary approvals. Additionally, legal disputes related to contracts, intellectual property, or professional liability can impact the reputation and financial stability of architectural firms.
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Architectural Services Market Competitive Landscape
The global architectural services market is highly competitive, with several key players operating on both global and regional scales. These companies offer a wide range of architectural services, including design, planning, project management, and consulting. The competitive landscape is characterized by intense competition, innovation, and the pursuit of sustainable and creative architectural solutions. The competitive landscape is also shaped by collaborations, strategic partnerships, and mergers and acquisitions, which allow companies to expand their service offerings and geographical presence. Moreover, market players are increasingly focusing on incorporating digital technologies such as Building Information Modeling (BIM) and virtual reality (VR) to enhance their design and project delivery processes.
Architectural Services Market Top Player’s Company Profiles
- Perkins and Will (US)
- HOK (US)
- Skidmore, Owings & Merrill (SOM) (US)
- Stantec (US)
- IBI Group (Canada)
- Foster + Partners (UK)
- Zaha Hadid Architects (UK)
- BDP (UK)
- Arup (UK)
- HKS Architects (US)
- NBBJ (US)
- CannonDesign (US)
- Populous (US)
- CallisonRTKL (US)
- Perkins Eastman (US)
- Woods Bagot (Australia)
- RMJM (UK)
Architectural Services Market Recent Developments
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In March 2024, NVIDIA unveiled the NVIDIA Blackwell platform, empowering organizations worldwide to create and deploy real-time generative AI using trillion-parameter large language models. This platform promises to achieve up to 25x reduction in cost and energy consumption compared to its predecessor.
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In January 2024, Tata Passenger Electric Mobility (TPEM), a leader in the electric vehicle (EV) revolution in India, unveiled its inaugural advanced Pure EV architecture named acti.ev (pronounced as "active"). This architecture, which stands for Advanced Connected Tech-Intelligent Electric Vehicle, will serve as the foundation for forthcoming products in the TPEM lineup. The first product to be built on this Pure Electric Architecture is Punch.ev, which will pave the way for a range of vehicles featuring various body styles and sizes. Customers can now reserve their Punch.ev by visiting authorized Tata Motors showrooms or Tata.ev stores and making a payment of just ₹21,000. Online bookings are also available at https://bit.ly/punchev-bookingsopen.
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In November 2023, L&T Technology Services Limited revealed a collaboration with NVIDIA on November 20th. Their partnership aims to develop software-defined architectures for medical devices focused on endoscopy, enhancing image quality and product scalability.
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In October 2023, Huawei unveiled the FAST (Full-stack, AI Large Model, Service Engine, Transformation) reference architecture tailored for carriers' digital operations transformation in the digital intelligence era. This reference architecture is designed to harness the distinctive strengths of carriers' services, cloud, network, and intelligence through full-stack capabilities. It aims to facilitate new value-driven O&M, deliver optimal scenario-based experiences, and enable the business agility required for generating enhanced value.
- April of 2023 Stantec was selected by the City of Port Aransas, Texas, to manage a restoration plan for the 13.5 acres of ecosystems housed inside Charlie's Pasture Nature Preserve. The region has been under water since Hurricane Harvey in 2017 destroyed the shorelines. The project's design and management to improve animal ecosystems, visitor use, and storm surge resistance mechanisms are anticipated to be spearheaded by the Stantec team. Apart from strategizing, the group will classify silt, assess the condition of the adjacent marsh, and promptly dispatch workers.
- HKS announced in March 2023 the launch of HKS "xBE," a new partner diversity program that enables "xBE" enterprises and their members to form alliances, investigate novel projects, and foster innovation in the fields of architecture and design. The program is broken up into two sections: "xBE" Rise, a 12-week seminar, and "xBE" Network, a 12-week program designed to increase diversity in the firm's many architectural and design project collaborations. HKS is dedicated to expanding its network of partnerships and workforce diversity within the AEC sector.
- In January 2023, PCL Construction was awarded the 400 MW Stubbo Solar project Engineering, Procurement and Construction (EPC) contract by ACEN Australia, a renewable energy company. PCL has been contracted to oversee the entire solar project and is in charge of the engineering, procurement, and detailed design of Stubbo Solar.
Architectural Services Key Market Trends
- Resilient and Adaptive Design: With the rising frequency of natural disasters and the impacts of climate change, architectural firms are incorporating design strategies that enhance the resilience of buildings and communities. This includes integrating disaster-resistant features, designing for climate adaptation, and creating flexible spaces that can accommodate changing needs and functions over time. The trend towards resilient and adaptive design aligns with the broader sustainability agenda and the need to create buildings and environments that can withstand future challenges.
Architectural Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global architectural services market is expected to experience significant growth during the forecast period from 2023 to 2030. The market refers to the industry that provides design, planning, and consulting services for various construction projects. This market plays a crucial role in shaping the physical environment around us, including buildings, infrastructure, and urban spaces. Architectural services encompass a wide range of activities, such as conceptualizing designs, creating blueprints, ensuring compliance with building codes and regulations, and overseeing construction processes. Architects and architectural firms collaborate with clients to understand their requirements and translate them into functional and aesthetically pleasing designs. In recent years, the architectural services market has witnessed significant growth due to factors such as population growth, urbanization, increasing construction activities, and the need for sustainable and innovative designs. Rapid technological advancements, such as Building Information Modeling (BIM) and virtual reality, have also revolutionized the way architectural services are delivered. The global architectural services market is a dynamic and essential sector that shapes the built environment. Market analysis helps identify trends, challenges, and opportunities within the industry, allowing architectural firms to adapt and thrive in a rapidly evolving market landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 395.17 billion |
| Market size value in 2031 | USD 834.84 billion |
| Growth Rate | 9.8% |
| Base year | 2023 |
| 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:-
|
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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 Services 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 Services 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 Services 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 Services 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 Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Architectural Services 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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