The global architectural services market is expected to reach USD 391.97 billion by 2025, according to a new report by Grand View Research, Inc. Increasing investments in construction sector has been a major factor driving market growth. Some major technological innovations in the market such as use of advanced designing and planning software’s have contributed largely to the market growth.
Due
to the significant advancements in the level of building design, along with
regulations and policies, the architectural services will witness a spur in the
demand for highly technical design development along with accurate drafting
services. This would initiate the demand for contractual service offerings.
These contractual services will combat the complicated mechanical and
electrical requirements and will also need high level analysis of pre-design
services.
Residential
sector accounted for a major shareholder in architectural services market,
however Government sector is anticipated to grow substantially at a 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 for architectural services in
government sector.
In
2016, Asia Pacific region accounted for maximum market share followed by
Europe. Middle East and Africa region is anticipated to grow fastest over the
forecast period, owing to increasing number of mega construction projects in
the region.
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Further key
findings from the report suggest:
- Global demand for
construction and project management architectural services was USD 107.61
billion in 2016 and is anticipated to witness staggered growth over the
next nine years
- The architectural services
in education sector is anticipated to grow at CAGR of 8.0% over the
forecast period.
- The Asia Pacific market is
projected to witness substantial growth over the next decade owing to
various developments across major economies, especially in urban planning
services market. The regional market is expected to grow at a CAGR of 3.6%
from 2017 to 2025.
- Key players including AECOM,
Aedas, Gensler, IBI Group Inc., Nikken Sekkei dominated the global
architectural services market while accounting for over 35% of the total
revenue in 2016
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Grand View Research has segmented
the global architectural services market report on the basis of product &
services, end user and region:
Architectural
Services Product and Service Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Architectural Advisory
Services
- Construction and Project
Management Services
- Engineering services,
Interior Design Services
- Urban Planning Services
- Others
Architectural
Services End-User Outlook (Revenue, USD Billion, 2014 - 2025)
- Education
- Government
- Healthcare
- Hospitality
- Industrial
- Residential
- Retail
- Others
Architectural
Services Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Sweden
- Asia Pacific
- China
- India
- Japan
- South korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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