What is the global market size of the Architectural Services Market?

Global Architectural Services Market size was valued at USD 343.5 Billion in 2021 and is poised to grow from USD 359.9 Billion in 2022 to USD 523.8 Billion by 2030, at a CAGR of 9.8% during the forecast period (2023-2030).

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

Q: Which region accounted for the largest share in the Global Architectural Services Market?

In 2022, 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.

Report ID: SQMIG45A2120 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 73 | Figures: 75

Architectural Services Market News

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.
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.
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.
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.

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FAQs

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 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. 'Gensler (US)', 'AECOM (US)', 'Perkins and Will (US)', 'HOK (US)', 'HDR, Inc. (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)'

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.

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.

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.

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