Industry Analysis & Industry Trends
After a collapsing construction market significantly hampered revenue, a recovery in nonresidential and residential building construction will support growth. The industry will face strong competition from larger consulting firms that offer a broad range of services, including pre-design, planning, interior design and engineering services. However, this factor will not deter overall growth, with demand expected to strengthen over the next five years... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Architects industry is in the mature phase of its life cycle. The demand for architectural services primarily stems from investment trends in downstream nonresidential building markets. In turn, demand for nonresidential buildings is driven by long-term growth in economic activity, population and industrial development. In the 10 years to 2018, IBISWorld expects that the industry's contribution to the overall economy, measured by industry value added (IVA), will grow at an average 0.3% annually, which is below the 2.1% annualized growth expected for GDP during the same period.
The slow growth is largely the result of the poor economic conditions during the past five years... purchase to read more