Architectural Services Market Growth & Trends
The Global Architectural Services Market size is anticipated to reach USD 356.25 Billion by 2027 growing at a CAGR of 5.2% over the forecast period as per the new research report published by UpGraph Research. Basically Architectural Services is the part of service where the Architect provides a detailed plan of construction by taking insights from his client. This plan includes the valuation of the site, feasibility check of the plan, design the structure of the construction, etc. looking towards the demand of such type of services as well as investment in the construction business can help to drive the growth of this market in the forecast period. Due to some government rules/policies and demand of the advanced building designs can favor the growth of the Architectural Services market.
Architectural Services have a high demand in the public sector and residential sector and hence the market has tremendous growth in the forecast period. However, the government sectors are still in the growing phase and they expected to grow by 2027. There are few factors that are responsible for the growth of the Global Architectural Services Market, such as advanced planning and designing soft wares (ex- CAD drawing, 3D modeling). Also, there is another one reason which is responsible for the tremendous growth of this market is governments are investing in Architectural Services to build a smart city. Currently, many of the architectural firms are entering into the global market with advanced software and technology to provide premium services to their client and due to this market is anticipated the high growth in the near future.
The latest technology named 3D printing plays a major part to drive the market. 3D printing application gives a direct 3D view with touch and feels the representation. It can save the cost as well as time. 3D printing is a new way to represent the project.
There are few factors due to which market is preventive such as, there is a lack of skills and knowledge in architectural professionals. They should learn remote sense, building information modeling, Geographic information system. Also, they should learn to manage clients’ demands depending on the current market conditions.
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UpGraph Research has segmented the global architectural services market report on the basis of product & services, end-user, and region:
Architectural Services Product and Service Type Outlook (Revenue, USD Billion, 2017—2027)
- Architectural Advisory Services
- Construction and Project Management Services
- Engineering services, Interior Design Services
- Urban Planning Services
Architectural Services End-User Outlook (Revenue, USD Billion, 2017—2027)
Architectural Services Regional Outlook (Revenue, USD Billion, 2017—2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa