Architectural Services Market to Witness Stellar CAGR During the Forecast Period 2027 Report by Market Research Future (MRFR)

Market Research Future Insights

According to MRFR analysis, the global Architectural Services Market is expected to register a stellar CAGR from 2020 to 2027. The demand for architectural services can be attributed to the growing construction activities across the globe. Rapid urbanization in developing countries, such as India and Brazil, is ensuing in growing residential and commercial construction activities. Moreover, governments are focused on presenting affordable home projects across several countries.

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This increase in construction activities is anticipated to support the demand for architectural services such as construction and scheme management services and urban planning, in turn, increasing the market growth. With the COVID-19 epidemic, the market's development has stalled as many projects have been suspended due to national crises, requiring people to stay confined for an extended period.

Throughout the time, the distribution network remained episodic, and many auctions linked to infrastructure investments were postponed to stop any concerns of virus infection, posing a barricade to the market's further expansion. As a consequence of the COVID-19 eruption, the necessity to track down sufferers, diagnostic testing, and fatalities have encouraged an expansion in smart city technologies and infrastructure upgrades. In the United States, tools like Power BI are being utilized in cities such as New Orleans and Los Angeles to monitor significant patterns linked to COVID-19.

Regional Analysis

Asia Pacific dominated the market and accounted for the largest revenue share during the forecast period. The segment is anticipated to grow steadily over the estimated period. The growth can be attributed to rapid urbanization, rising population, and growing residential and industrial construction plans in this region.

Europe accounted for a substantial revenue share in the market. The growth of this market can be attributed to the prosperous construction sector in the IT sector due to increasing investments and new infrastructure development projects.

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Market Segmentation

The global Architectural Services Market has been segmented into Service type and End-User.

Based on the Service Types

The global Architectural Services Market has been segmented into Architectural Advisory Services, Construction and Project Management Services, Engineering Services, Interior Design Services, Urban Planning Services, and Others. The Construction and Project Management Services segment holds the largest market share of 36% in 2021. The demand for expert contributions on contract negotiations, construction design, project control, quality management, and risk study, all of which necessitate the usage of specialist professionals and teams across every plan, are a few substantial elements driving the business forward.

Based on the End-User

The global Architectural Services Market has been segmented into Education, Government, Healthcare, Residential, Industrial, Retail, and Others. The Industrial segment holds the largest market share of 43% in 2021. The use of these services in the industrial segment has been helped by rapid industrialization and technological innovation. Numerous factories, distribution centers, and business unit development plans have resulted in augmented demand for engineering and architectural services in the industrial segment throughout the years.

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Key Players

Some of the key market players are Jacobs Engineering Group, Nikken Sekkei Ltd., Perkins Eastman, AECOM, Foster + Partners, Gensler, HDR, IBI Group, Perkins and Will, and Stantec

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