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Architectural Services Market Size, Trends & Analysis - Forecasts to 2026 By Product and Service Type (Architectural Advisory Services, Construction and Project Management Services, Engineering Services, Interior Design Services, Urban Planning Services, and Others), By End-User (Education, Government, Healthcare, Hospitality, Industrial, Residential, Retail, and Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America) and Competitor Landscape
The global architectural services market is expected to grow at a high CAGR during the forecast period (2021-2026). The major factors expected to be the drivers of market growth include the importance of technology in the field, rising demand for green building, adoption of 3D printing, urbanization across the globe, surging demand for different sectors such as healthcare, government, construction, and others, rising investment in the construction industry, development of new skills as well as knowledge to facilitate efficient business management.
Additionally, architectural services are gaining attention in the world with the development and innovations that the services have shown. The infrastructural development in developing as well as developed countries are also pushing the market to provide suitable solutions for all the problems such as climate change and regional conditions. These services are connected with drafting and designing institutional, residential, commercial, and industrial buildings. The new opportunities in the market are expected to arise mainly because of innovations in the services that are being provided. The development projects around the world are also looking for ways how their infrastructure can be different from the already existing infrastructure in the world which shows the importance of architectural services.
Based on the product and service type, the market can be segmented into engineering services, architectural advisory services, interior design services, construction and project management services, urban planning services, and others. The construction and project management service segment is estimated to be the fastest-growing segment in the market due to rising demand for infrastructure in developing and developed countries, rising demand for green buildings, as well as rising investment in the construction industry. And, the interior design service segment is expected to experience high growth due to the rising urbanization in the world and increasing development projects such as smart city projects in many countries.
Based on the end-user, the market can be divided into government, education, healthcare, industrial, hospitality, retail, residential, and others. The dominating segment in the market is estimated to be the residential segment. The reasons for this domination can be the rising demand for residential areas due to urbanization and government projects of providing housing to the citizens. Whereas, the government segment is estimated to be the fastest-growing segment because of the smart city projects in developing economies and the rising demand for urban design services.
Based on the region, the Asia Pacific region is observed to dominate the market because of the availability of cheap labor, decent economic conditions, appropriate infrastructure availability for manufacturing, innovation in the products and services. The Middle East and Africa (MEA) region is estimated to be the fastest-growing region due to the importance of better infrastructure, more disposable income among citizens as well as the development of new skills as well as knowledge to facilitate efficient business management.
The major players in the market of ultrasonic cleaning systems include Aedas, AECOM, DP Architects, Gensler, Foster & Partners Limited, HDR Architecture, HOCHTIEF AG, HKS INC, HOK, Jacobs, IBI Group Inc, Nikken Sekkei, Perkins & Will, Stantec, PCL Constructors Inc, and Perkins Eastman among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2020, AOMS Technologies joined hands with PLC Constructors Inc., to provide a new dimension to the construction business by introducing ‘Smart Construction’ as the new reality.
In March 2020, Eddy Solutions collaborated with PCL Constructors Inc., to deal with the water damage by using new technology to protect the construction sites.
In August 2019, engineering & architect firm HDR and Nebraska architecture announced that they will be working on a rail project at the Californian Port of Long Beach.
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The Global Architectural Services Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Architectural Services Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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