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Architectural Services Market Revenue, Major Players, Consumer Trends, Analysis & Forecast – IndustryARC


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Growing Investment in Improving the Infrastructural Facilities of Different Industry Verticals is Creating Demand for Architectural Services Market Size

HYDERABAD, TELANGANA, INDIA, January 24, 2023 / -- IndustryARC, in its latest report, predicts that Architectural Services Market is forecast to reach $395 billion by 2025, at a CAGR of 4.2% in the forecast period 2020-2025. With the rapid infrastructural development in various developed and developing regions of the world there is a constant upgrade in building design and architectural services across residential, commercial and public sector. Outsourcing of engineering services such as CAD drawing, architecture description languages and project designs are increasing as the demand for Technology’s role in architecture is increasing. On the other hand advent of advancements such as VR and AR are playing a significant role in building design. Moreover architecture firms are holding advantage of what virtual reality can offer clients by way of communicating ideas and concepts. Advanced solutions such as 3D modelling, 3D scanning technology and utilization of high end designing software are some of the factors which propel the growth of the market in the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. Interior design segment is growing at highest CAGR in the forecast period due to rising renovations in modern shopping stores and enhancement in luxurious interiors of hotels.

2. Government sector is anticipated to at a highest CAGR in the forecast period owing to increasing investments by various government bodies across the world especially in projects such as smart cities, public transportation.

3. APAC dominated the Architectural service market with a share of more than 33.57% due to presence of economically influenced countries such as India and China.

4. Major players in Architectural Services Market include IBI Group, AECOM Company, Aedas Company, HDR Architecture, Inc., Gensler, HKS Inc., Hardlines Design Company, Stantec Inc., CallisonRTKL, Skidmore, Owings & Merrill LLP, CannonDesign and DP Architects among others.

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Segmental Analysis:

1. Interior design segment is growing at CAGR of 6.7%in the forecast period due to rising renovation in modern shopping stores and encouraging enhancement in luxurious interiors of hotels.

2. Government sector is anticipated to at a highest CAGR of 9.1% by 2025. Increasing investments by various government bodies across the world especially in projects such as smart cities, public transportation and subsidised home projects are driving the market growth.

3. In 2018, APAC dominated the Architectural services market size with a share of more than 33.57%, followed by North America and Europe. The economy of APAC is majorly influenced by the countries such as China and India. In these countries, the government is investing heavily on smart city construction.

4. For Instance, Government of India has envisioned to set up 100 smart cities by 2025 with an investment of $2 trillion. Similarly, in 2018 China government has invested $65 billion in smart city construction.

5. According to report given by IBEF, The Indian real estate sector is expected to see a humongous growth by 2030 with a market size of $1 trillion These investments will create opportunities for architectural services market in the forecast period.

Competitive Landscape:

The top 5 players in the Architectural Services industry are -

1. IBI Group

2. AECOM Company

3. Aedas Company

4. HDR Architecture, Inc.

5. Gensler

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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Exterior Architectural Coating Market

B. 5G Infrastructure Market

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