The Architectural Services Global Market Report 2023, provides comprehensive information on the architectural services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global architectural services market size is expected to grow from $334.55 billion in 2022 to $354.70 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global architectural services market size is expected to reach $439.37 billion in 2027 at a CAGR of 5.5%.
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Technological Advancements are a key trend in gaining popularity in the architectural services market. Major companies operating in the architectural services market are focused on developing innovative solutions to strengthen their position in the market. For instance, in December 2021, COBOD International, a Denmark-based company operating in architectural services and CEMEX, a Mexico-based company operating in architectural services launched an innovative 3D concrete printing technology approach to improve construction projects. This technology has unique features such as it lowers construction costs, allowing new customization and complex designs of structures, improving the production of higher quality elements by utilizing machine-perfect fabrication and also helping builders faster speed of construction and a high level of design freedom formworks.
The architectural services market is segmented:
1) By Service Type: Architectural Advisory Services, Construction And Project Management Services, Engineering Services, Interior Design Services, Urban Planning Services, Other Service Types
2) By End-User: Education, Government, Healthcare, Hospitality, Residential, Industrial, Retail, Other End Users
Asia-Pacific was the largest region in the architectural services market in 2022.
The table of contents in TBRC’s architectural services market report includes:
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