Architecture, engineering consultants (AEC) and other related services contain activities that provide support to planning or designing of production related businesses of all sizes across all sectors. AEC include software & services for the construction of large or complex industrial, residential, and commercial buildings. It includes features such as designing, operations, building, and management. Business entities which are engaged in providing these services are referred as engineering consultancy firms or the architectural firms. These organizations provide engineering services & expertise to companies which require specialized skill set. Engineering consulting services save time, effort, and money for the companies which do not have expertise or the knowledge for handling a specific task. These services may be further categorized as finance or labor services, process development, industrial services, software or information technology services, research & development (R&D) services and engineering services. The R&D services include materials research, machine design, product design, scientific research, ergonomic research, Computer Aided Design (CAD) process design and modeling.
According to study, “Architectural, Engineering Consultants And Related Services Global Market Report 2019” some of the key companies currently operating in the architectural, engineering consultants and related services global market are Bechtel Corporation, IBI Group Inc., Aedas, Skidmore Owings & Merrill LLP, Stantec, PCL Constructors Inc., Foster & Partners Limited, Perkins+Will, HKS Inc., HOK, Jacobs Engineering Group Inc, Hochtief AG, Perkins Eastman, HDR Architecture, AECOM Technology Corp, DP Architects, Nikken Sekkei, Gensler, CH2M HILL Inc.
Based on product services, global architectural, engineering consultants and related services market is segmented into engineering services, laboratory testing services, architectural services, surveying & mapping services, geophysical services, building inspection services and drafting services. Based on facilities, market is segmented into recycling, maintenance, HVAC (heating, ventilating, and air conditioning), water & wastewater, quality assurance, surveying & mapping and remediation. Based on management, market is segmented into financial services, business consulting, legal services, human resources & staffing, communication services, systems integration, project management and marketing & sales supports. Based on use of application, market is segmented into road, port, education, rail, airport, power, pipeline and others. Moreover, based on end-user, market is segmented into industrial, government, education, retail, hospitality, healthcare, residential and others.
The global architectural, engineering consultants and related services market is majorly driven by rise in demand for environmentally friendly building & technology development, increase in smart cities, increase in disposable income and the gradual shift towards consultancy industry. Apart from the key drivers, some of the major restraints factors include reduction in free trade and increase in penetration of DIY tools. Furthermore, online crowd sourcing and increase in internet penetration are major opportunities of market. Online crowd sourcing allows customers to submit requirements online & architectural or engineering service providers to send design ideas & plans to customers directly.
Based on geography, European region holds the largest market share for the architecture, engineering consultants and other services market, followed by Asia-Pacific region with the rise in demand for commercial, residential, industrial and landscape architectural services in the region. The rapid urbanization & globalization and increase in economic growth the market is expected to significantly rise over the forecast period.
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Ankur Gupta, Head Marketing & Communications