The Architectural Services Market size is estimated at USD 351.69 billion in 2024, and is expected to reach USD 485.24 billion by 2029, growing at a CAGR of 5.35% during the forecast period (2024-2029).
Architectural services offer feasibility studies, architectural programming, and project management, among others, with the aid of design, the creation of construction documentation, and the management of construction projects. Sustainable construction offers significant advantages and financial potential, pushing the market for architectural services. Additionally, increasing occupancy and the return on investment can reduce operational costs. The market is expanding due to the demand for conceptual engineering building construction and fundamental bioclimatic design.
The degree of competitive rivalry in the market studied is high and expected to remain the same during the forecast period. The architectural services market comprises several global and regional players like IBI Group, Aedas, AECOM, HDR Architecture Inc., and Gensler in a contested market space. Although the market poses high barriers to entry for new players, several new entrants have gained traction. Players in the market are adopting strategies such as partnerships and expansions to enhance their product offerings and achieve a sustainable competitive advantage.
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