The Architectural, Engineering Consultants And Related Services Global Market Report 2023 by The Business Research Company, provides architectural, engineering consultants and related services market overview 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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According to The Business Research Company’s Architectural, Engineering Consultants And Related Services Global Market Report 2023, the market grew from $1,456.69 billion in 2022 to $1,525.79 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. 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, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of global architectural, engineering consultants and related services market is expected to grow from $1,773.06 billion in 2027 at a CAGR of 3.8%.
The rise in demand for environmentally safe and certified buildings is expected to drive the architecture and engineering services market. Consumers, state governments, and NGOs are working towards making residential and commercial buildings more energy efficient and self-sufficient. Private constructors and real estate developers are redesigning projects to fulfil these demands, leading to many benefits such as an increase in rental and resale value, home-owner satisfaction, lower operating costs, and regional or international recognition. The US Green Building Council launched the Leadership in Energy and Environmental Design (LEED) certification program to establish a set of rating systems that define the construction, design, and maintenance of residential projects.
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The architectural, engineering consultants and related services market is segmented:
1) By Type: Engineering Services, Architectural Services, Surveying & Mapping Services, Geophysical Services, Laboratory Testing Services, Building Inspection Services, Drafting Services
2) By Application: Road, Rail, Port, Airport, Pipeline, Power, Other Applications
3) By Service Provider: Large Enterprise, Small and Medium Enterprise
Architectural and engineering consultants are using 5D building information modelling (BIM) to create dynamic building designs that can be altered at later stages of the project. BIM software is a tool used to design buildings and structures, including lighting, HVAC systems, and mechanical, electrical, and plumbing systems. It can also be used for clash detection, cost estimation, and safety analysis. 5D building information modelling (BIM) involves creating architectural designs that can be modified and customized in real time. This system collects data from different project teams and helps collaborate with the entire construction chain, eliminating project delays. For instance, construction management company The Korte Company is using 5D BIM technology for project design, planning, and cost estimation, thereby enabling faster decision-making. The Maharashtra Metro Rail Corporation in the Indian state of Maharashtra is using 5D BIM in its construction projects worth $3 billion to reduce costs and litigation.
The architectural, engineering consultants and related services market report table of contents includes:
- Executive Summary
- Table of Contents
- List of Figures
- List of Tables
- Report Structure
.
- Market Background: Design, Research, Promotional And Consulting Services Market Characteristics
- Opportunities And Strategies
- Architectural, Engineering Consultants And Related Services Market, Conclusions And Recommendations
- Appendix
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