Architectural Services Market to be Worth $523.20 Billion by 2030 … – Yahoo Finance

SAN FRANCISCO, March 16, 2023 /PRNewswire/ — The global architectural services market size is expected to reach USD 523.20 billion by 2030, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 4.8% from 2023 to 2030. A major element boosting the market expansion is the accelerating urbanization in nations like South Korea, Brazil, and India which is leading to a rise in demand for smart homes. Additionally, it is anticipated that the growing need for planning, designing and consulting services for effective job operation will be supported by the rising industrial and commercial building restoration projects around the world. This is thus anticipated to support market expansion.
Key Industry Insights & Findings from the report:
In 2022, the construction and project management services segment is expected to grow with a revenue share of 34.0% owing to the rising building activity worldwide.
The Asia Pacific region is anticipated to grow with a CAGR of 5.6 % during the projection period due to an increase in new development activity in the area’s healthcare and housing industries.
Since the COVID-19 outbreak, major market participants have concentrated on acquisitions to grow their organizations. For instance, in October 2022 Woolpert, Inc. announced the acquisition of Sheehan Nagle Hartray Architects Through the acquisition, Woolpert will be able to benefit from Sheehan’s knowledge of interior design and predesign services for civic, commercial, and online retail.
Read 120 page market research report, “Architectural Services Market Size, Share & Trends Analysis Report By Service Type (Architectural Advisory Services, Engineering Services, Urban Planning Services), By End-use, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Architectural Services Market Growth & Trends
Architectural services are commonly used in fields like industry, healthcare, and hospitality. Building blueprints are presented to clients by architectural firms to give them an accurate and detailed representation at every stage of the process. The development of the industry is aided by architectural firms’ rising emphasis on creating smart buildings with improved space usage. In addition, a growing number of smart cities programs initiated by governments around the world are driving up demand for urban planning services, thus augmenting the architectural service market growth.
The healthcare industry is expanding quickly in developing nations. The architectural service market expansion is anticipated to be boosted by hospital owners’ and governments’ growing propensity to offer better patient care. Similar to the way the learning environment is changing due to digitalization, funding is becoming a major issue for educational institutions. The need for architectural services in the education sector to construct cost-efficient, high-tech buildings is anticipated to have a positive impact on architectural service market expansion.
COVID-19 has had a detrimental effect on the architectural service market expansion. Interaction and coordination are necessary for providing architectural services, and going to construction sites is a crucial step in the procedure. Numerous in-progress architectural projects had been delayed as a result of stringent measures imposed by governments around the world and a halt in construction work. As a result, there was a decrease in the demand for architectural services worldwide.
Architectural Services Market Segmentation
Grand View Research has segmented the global architectural services market report based on service, end-use, and region:
Architectural Services Market – Service 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 Counseling and Interpretation Consulting Services
Legal Technical Requirement Compliance Counseling Services
Others
Architectural Services Market – End-use Outlook (Revenue, USD Billion, 2018 – 2030)
Education
Government
Healthcare
Hospitality
Residential
Industrial
Retail
Others
Architectural Services Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
List of key players in the Architectural Services Market
AECOM
Foster + Partners
Gensler
HDR
IBI Group
Jacobs Engineering Group
Nikken Sekkei Ltd.
Perkins Eastman
Perkins and Will
Stantec
Check out more related studies published by Grand View Research:
Urban Planning Software And Services Market – The global urban planning software and services market size is anticipated to reach USD 192.35 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.2% from 2021 to 2028. Urban planning is one of the most crucial aspects of any country’s development plans as it involves the development and efficient use of land, public welfare, and ensures the safety of the environment. Urban planning is a heterogeneous and complicated process that comprises utility systems, distribution chains, communication networks, infrastructure, and several other elements and processes. Urban planners are adopting urban planning software and services to handle such intricate processes and conceptualize urban designs and plan layouts.
Construction And Design Software Market – The global construction and design software market size is expected to reach USD 19.12 billion by 2030, growing at a CAGR of 8.5% from 2022 to 2030, according to a recent report by Grand View Research, Inc., The growing demand for effective tool management and development of digital capabilities such as the Internet of Things (IoT) and Building Information System (BIM) are the major drivers that are likely to create the need to adopt construction and design software across infrastructure and real estate industries. These digital capabilities help organizations automate, track, and manage budgets by managing construction projects and controlling costs across the operations. Thus, it allows organizations to increase profits and maximize efficiency by reducing risks and other issues. This is attributed to the rise in demand for construction and design software during the forecast period.
3D Printing Construction Market – The global 3D printing construction market size is expected to reach USD 4,179.3 million by 2030, registering a CAGR of 101.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising awareness about 3D printing techniques in the construction industry and the significant increase in green construction projects globally. Various benefits offered by this technology, including increased construction speed, reduction in waste, on-site accidents& overall costs, and flexibility in creating complex architectural shapes, are also driving its adoption in the construction industry. The funding received by the 3D printing construction providers from the respective governments for developing space-based construction systems is expected to create new opportunities for market growth in the coming years.
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
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