2012-09-06 11:39:09 - Global architectural services market heavily reliant on the construction industry
The global architectural services market has been forecast to increase at a compound annual growth rate (CAGR) of 3.6% over the period through to 2015. Key factors contributing to the growth within the industry include the increasing investment in the global construction industry, along with the increasing demand for green buildings. However, the continuous decline in profit margin could pose a challenge to the growth of this market.Throughout the ages, architectural design has been the method through which civilizations have built their houses, their temples and their sporting stadiums. Architecture stands unique among the knowledge-based service industries as it endeavours to blend artistic merit, ethical and cultural philosophies, and commercial design practicalities.Architects are hired to customize building designs to meet
with a wide range of client requirements, which may include artistic or aesthetic qualities, cost control, environmental sustainability, disability access and flexibility of function.Growth within the global architectural services market is predominantly dependant on the growth of the global construction industry. This industry is expected to increase massively by 2016. Global gross domestic product (GDP) is growing at a steady rate, which in turn creates more opportunities for the construction industry. Increasing investment by the public sector in the construction industry plays a major role in the growth of the market. Many governments are investing a large amount of money in the construction of institutional buildings such as schools, hospitals, and prisons.For more information on the global architectural services market, see the latest research: Global Architectural Services Market ReportFollow us on Twitter @CandMResearch
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