Global Architectural Services Market By Service Type, By End-use, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Architectural Services Market Overview:

The Architectural Services Market size is expected to be worth around USD 812.88 billion by 2032 from USD 345.1 billion in 2021, growing at a CAGR of 8.1% during the forecast period from 2022 to 2032.

The increasing number of construction activities worldwide can explain the rising demand for services. In developing Asian countries like India and Brazil, rapid urbanization increases residential and commercial construction. Governments are also focusing on affordable home projects in various countries. This will support market growth by increasing the demand for architectural services, such as project management, construction market services, and urban planning.

Global Architectural Services Market Scope:

Service type analysis

Construction and project management accounted for 35.2% of the revenue in 2021. This segment is expected to grow rapidly over the next few years. Both construction and project management are crucial aspects of any project. The demand for project management and construction services is growing due to increased construction activities. These services include cost control, scheduling, and risk management.

Market growth is expected to be significant in the urban planning segment, with a CAGR of 9.8% during the forecast period. This is due to the increasing number of government initiatives for urban growth. Segment growth will also be supported by the rising number of residential developments and increasing demand for smart solutions to manage, deliver and optimize plans.

End-use analysis

In 2021, the industrial segment was dominant and accounted for a 46.21% revenue share. This is due to rapid industrialization around the world, as well as increasing acquisitions and Establishments of new key factors by business companies. The demand for interior design and architectural advice services will rise due to environmental concerns and business owners’ efforts to build green buildings. This will positively impact the segment’s growth.

The residential segment will experience significant growth during the forecast period. A rise in disposable income, coupled with lower interest rates for housing in emerging economies, is expected to boost market growth. The demand for architectural services is expected to rise due to rapid urbanization in emerging economies’ tier-II towns. To manage smart cities better, architects will continue to demand services like urban planning and project management.

Кеу Маrkеt Ѕеgmеntѕ:

By Service Type

• Interior Design Services
• Architectural Advisory Services
• Construction and Project Management Services
• Building Code Counseling and Interpretation Consulting Services
• Engineering Services
• Urban Planning Services
• Legal Technical Requirement Compliance Counseling Services
• Other Service Types

By End-use

• Government
• Education
• Residential
• Hospitality
• Healthcare
• Retail
• Industrial
• Other End-Uses

Market Dynamics:

Hospitality and healthcare are experiencing rapid growth. Hospitals focus on patient care by establishing new facilities or reorganizing existing spaces. They can improve patient outcomes and patient satisfaction. This will increase demand for services like interior design and construction management. The hospitality industry is experiencing increased tourism in both developed and developing nations. Increasing tourism has resulted in new hotels, resorts, and restaurants at tourist destinations.

Companies are increasingly turning to architectural services, such as space planning and interior design, which can help them increase their customer base and improve their stay experience. Major players will also boost market growth by focusing on expanding their customer base and businesses through strategic partnerships. Forge Development Partners announced its partnership with Gensler in 2021. Gensler was named chief architect and interior designer for all Forge Development Partners projects as part of the partnership. Gensler grew its business through this partnership, catering to Forge-related projects.

In 2021, Colliers, professional services and investment management company, partnered up with Bergmann, an architecture and design service provider. Colliers sought to expand its geographical footprint through this partnership. Complex designs and communicating ideas can be difficult for architects. Virtual reality technology can be used in architectural designs to help architects save time and money while still achieving high levels of design precision. Market growth is expected to be driven by the rapid adoption of virtual reality within the architectural service sector.

The market is expected to see high growth but will be challenged by the high cost of architectural services. The market is also being held back by a lack of skilled labor and design knowledge. The global market was negatively affected by the COVID pandemic in 2020. Strict lockdowns and brief site suspensions contributed to the reduction in demand for architectural services. The second quarter of 2021 saw a rebound in construction activity due to the introduction of new and redesigning projects. This led to a gradual recovery of the market for architectural services.

Regional Analysis:

The Asia Pacific was the dominant market, accounting for more than 38.5% of the total revenue in 2021. market segmentation is expected to continue growing over the forecast period. This growth is due to rapid urbanization, increasing population, and residential and industrial construction projects. China was the dominant market for architectural services due to its large number of manufacturers and increasing efforts to set up new plants.

Europe was responsible for a large share of the market’s revenue. This market’s growth can be attributed to the thriving construction sector in the IT industry event due to increasing investments and new infrastructure development projects. Over the forecast period, the market for architectural services will be revived by the gradual resumption and commencement of new IT projects.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• The Middle East and Africa
  • GCC
  • South Africa
  • Israel
  • Rest of the Middle East; Africa

Market Share & Key Players Analysis:

Venture capital firms back new entrants to the market, bringing more innovative designs and better solutions. This is driving the market to become more competitive. Major players are focusing on strategic acquisitions to gain significant market share. IBI Group, a global provider of architectural services, announced the 2021 acquisition by Taranis Consulting Ltd. (an environmental consulting company). This acquisition will support the company’s efforts to improve its sustainability and environmental management busines.

Маrkеt Кеу Рlауеrѕ:

• AECOM
• Gensler
• Foster + Partners
• Jacobs Engineering Group
• IBI Group
• Perkins Eastman
• HDR
• IBI Group inc.
• Stantec inc.
• HKS inc
• Nikken Sekkei Ltd.
• Perkins and Will
• Other Key Players

For the Architectural Services Market research study, the following years have been considered to estimate the market size: