Architectural Engineering And Construction Services Industry

The global architectural, engineering, and construction services market size was estimated at USD 108.15 billion in 2023 and is anticipated to grow at a CAGR of 14.5% from 2024 to 2030. The most significant growth driver for the market is the increasing demand for infrastructure development, especially in emerging economies. Rapid urbanization and the need for modern, sustainable cities have pushed both public and private sectors to invest heavily in infrastructure projects like roads, railways, bridges, and buildings. Urban expansion also drives the demand for residential, commercial, and industrial construction projects, thereby boosting the need for architectural and engineering services.

The adoption of Building Information Modeling (BIM) and other advanced technologies has transformed the architectural, engineering, and construction (AEC) industry, making processes more efficient and reducing project costs. BIM facilitates real-time collaboration between architects, engineers, and construction professionals, improving project outcomes through enhanced design accuracy and efficient resource management. In addition, the use of artificial intelligence (AI), drones, 3D printing, and virtual reality (VR) in construction is accelerating growth by streamlining workflows and boosting productivity.

Government-backed initiatives and policies aimed at revitalizing infrastructure are another key driver for the AEC market. Many governments are launching large-scale construction projects to modernize aging infrastructure, such as roads, airports, and public transportation systems. Public-private partnerships (PPPs) are also becoming more common, with governments offering incentives and funding for construction companies to participate in major development projects.

The globalization of the AEC industry is another growth factor, with companies increasingly outsourcing design, engineering, and construction services to lower-cost regions. Offshoring certain tasks, such as drafting, modeling, and analysis, to countries with lower labor costs has become more common, making the AEC industry more cost-competitive and scalable.

Gather more insights about the market drivers, restrains and growth of the Global Architectural Engineering And Construction Services market

Key Architectural, Engineering, And Construction Services Company Insights

Key players operating in the market include AECOM, HDR, Inc. Gensler, Stantec, and Trimble. The companies are focusing on various strategic initiatives, including new product development, partnerships & collaborations, and agreements to gain a competitive advantage over their rivals.

Key Architectural, Engineering, And Construction Services Companies:

The following are the leading companies in the architectural, engineering, and construction services market. These companies collectively hold the largest market share and dictate industry trends.

• AECOM
• Autodesk
• AVEVA Group Plc
• Gensler
• HDR, Inc.
• HEXAGON
• Oracle
• Schneider Electric SE
• Stantec
• Trimble

Recent Developments

• In September 2024, Stantec agreed to acquire Morrison Hershfield, an engineering and management firm based in Markham, Ontario. This acquisition enhances Stantec's footprint in key Canadian markets and bolsters its presence in the U.S. building engineering sector.
• In August 2024, AECOM established a multi-year partnership with One Click LCA, a Finland-based sustainability platform for the built environment. This collaboration strengthens AECOM’s ScopeX approach, which aims for a 50% carbon reduction by leveraging One Click LCA’s comprehensive carbon assessment and sustainability tools for buildings and infrastructure projects worldwide. The agreement provides AECOM access to One Click LCA’s verified platform, facilitating thorough carbon data collection and integration into the ScopeX portal.

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