The global architectural services market is expected to grow at a considerable rate over the forecast period. Increasing trend of service outsourcing across various industry verticals is expected to drive the industry growth.
Favorable government policies on architecture focus on the sustainable development of the environment and urban design. These policies are expected to enhance the trust which in turn shall boost the industry. Contractors also rely on the government regulations which help them deliver the right design to the right person at the right time.
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Demand is dependent on the investments being made on the buildings and large scale projects in the emerging metropolitan cities across the globe. Such emerging cities promise immense growth opportunities for the developers and contractors. The big firms hold a significant share of the industry with the design of large commercial and industrial buildings.
The industry comprises institutions that plan and design institutional, residential, leisure, industrial, and commercial buildings. The application of design and construction procedures, building codes, zoning regulations and building materials are some of the techniques utilized to perform architectural services.
The industry can be subdivided on the basis of industry products, industry activities, and potential clients. Some of the industry products include building design, interior design, planning, predesign, landscape and urban design, and construction project management.
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The industry activities can be segmented into basic designing, providing construction phase services, restoration, planning and providing building fit-out services.
The market can be subdivided on the basis of potential clients into home owners, developers, government and contractors. As home owners occupy a larger proportion of the population, they are expected to constitute the majority of the revenue share.
Home owners are expected to create significant opportunities among the market participants such as the dealers and contractors. Creating unique designs are expected to unearth innovation among market players.
The use of CAD is on the rise due to enhanced global connectivity. The drawings can be transferred electronically to any part of the world making it easier to communicate the changing trends and needs of the customer.
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