Architectural services are provided in connection with planning and designing residential, institutional, leisure, commercial, and industrial buildings and structures by applying knowledge of design, construction procedures, zoning regulations, building codes and building materials.
Increasing investment in construction industry, and increasing demand for green building across the globe are major factors driving growth of the global architectural services market. In addition, increasing demand for architectural services from various sectors such as construction, healthcare, government, and other is expected to drive growth of the global architectural services market.
However, high cost of software and services, uncertain economic conditions, and stringent government regulations are other factors expected to restrain growth of the global architectural services market.
Technological advancements such as development of innovative 5D building information management (BIM) software is expected to present new opportunities to market players operating in the global architectural services market over the forecast period.
The global architectural services market is segmented on the basis of services type, end user, and region. On the basis of region, the global architectural services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America dominates the global architectural services market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed construction sector, and high adoption rate for architectural services among the end users. Europe market accounts for the second largest revenue share contribution to the global architectural services market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of construction activities in emerging economies in this region.
Prominent market players operating in the global architectural services market are Gensler, AECOM, AEDAS, IBI Group, and HDR Architecture Inc.