Architectural Services Industry Overview
The global architectural services market size was valued at USD 344.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2022 to 2030.
The demand for services can be attributed to the increasing construction activities across the globe. Rapid urbanization in developing countries, such as India and Brazil, is resulting in increasing residential and commercial construction activities. Moreover, governments are focused on introducing affordable home projects across various countries. This rise in construction activities is expected to support the demand for architectural services such as construction and project management services and urban planning, in turn, boosting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Architectural Services Market
The healthcare and hospitality sectors are witnessing rapid growth. In the healthcare sector, hospitals are focused on improving patient care through the establishment of new facilities and reorganizing existing spaces. This helps them improve patient outcomes, increase patient satisfaction, and optimize the building space to seamlessly treat patients. As a result, services such as construction and project management, and interior design are expected to witness significant demand. The hospitality sector is witnessing increasing tourism in developed and developing countries. Increased tourism has led to the development of new hotels, resorts, and restaurants at tourist locations.
Businesses are opting for architectural services such as interior design, space planning, and schematic designs that help them attract more customers and enhance their stay experience. In addition, the focus of major players on enhancing their businesses and customer base through strategic partnerships is expected to augment market growth. As part of this partnership, Gensler was appointed as the chief of architectural and interior design for all Forge Development Partners projects. This partnership helped Gensler to enhance its business by catering to Forge projects.
Through this partnership, Colliers aimed to enhance its geographic footprint. Architects often face challenges in communicating ideas and delivering complex designs. The deployment of VR technology in architectural designs enables architects to save time and money while delivering high precision in design. The rapid adoption of virtual reality in the architectural service space is expected to drive market growth.
Although the market is expected to witness high growth, the high costs associated with architectural services are expected to pose a challenge for the market. In addition, the looming lack of skilled labor and adequate knowledge for design is hampering the market growth. In 2020, the COVID-19 pandemic negatively impacted the global market. Strict lockdowns and temporary suspension of construction sites resulted in a decline in demand for architectural services. However, in the second quarter of 2021, construction activities witnessed growth with the introduction of new as well as redesigning projects, thus leading to the gradual recovery of the architectural services market.
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Architectural Services Market Segmentation
Grand View Research has segmented the architectural services market based on service type, end use, and region:
Architectural Services Type Outlook (Revenue, USD Billion, 2018 - 2030)
- 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
- Others
Architectural Services End Use Outlook (Revenue, USD Billion, 2018 - 2030)
- Education
- Government
- Healthcare
- Hospitality
- Residential
- Industrial
- Retail
- Others
Architectural Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Market Share Insights
- December 2021: IBI Group, a global architectural service provider, announced the acquisition of Teranis Consulting Ltd., an environmental consulting firm. The acquisition is expected to support the company’s efforts in enhancing its sustainability and environmental management business.
- September 2021: Colliers, professional services and investment management company, partnered with Bergmann, a design and architecture service provider.
- January 2021: Gensler, a global architectural service provider, announced its partnership with Forge Development Partners.
Key Companies profiled:
Some prominent players in the global architectural services market include
- AECOM
- Foster + Partners
- Gensler
- HDR
- IBI Group
- Jacobs Engineering Group
- Nikken Sekkei Ltd.
- Perkins Eastman
- Perkins and Will
- Stantec
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