The forces and behaviours of market dynamics greatly impact the architectural industry. The market of the built environment is constantly changing with business opportunities, environmental occurrences and social advancements playing significant roles in building design. Over the last few years, technology’s role in architectural practice has become more prevalent, offering a wider range of ways to express and communicate ideas with clients as well as to create functional architectural masterpieces.
Architectural market dynamics have shifted recently due to the increase in demand for green construction and buildings which provide benefits environmentally as well as economically in the long run. Utilising more environmentally sustainable methods are becoming more important within the architectural market and are increasingly considered during the design process at architectural firms. The demand for bioclimatic design and sustainable engineering techniques in building and construction are also growing in the market and are beginning to be included within the policies and design intentions of many firms. The effects of climate change have created an increased demand for buildings that can withstand and work alongside Mother Nature using materials that are lighter and more sustainable. Due to the crisis of our planet, green and sustainable building practices will become more standard and widely used in the upcoming decades. This will continue to influence the residential and commercial industries, therefore aiming to reduce energy costs and boost the energy efficiency of the built environment.
The application of technology is gradually increasing into the architectural field of services, emerging as a new and successful mode of presenting and designing a project. 3D printing for architectural designs and construction is a key factor driving the market with more firms adopting this method for representation as well as manufacturing. With the technology for this method spreading rapidly and therefore causing a decrease in costs, this representation of design is highly effective and economically viable for firms looking to showcase their designs and structures. 3D printing technology will also make detailing and intricate work of buildings easier and it can be seamlessly integrated into several construction practices.
The growth of a firm will be restrained if skills including Building Information Modelling (BIM) and Geographic Information Systems (GIS) are not learnt and utilised effectively. These skills ensure efficient management of the firm as well as successful completion of projects adhering to client’s demands and market conditions. Many projects that endeavour to use this infrastructure and modelling software from project planning to concept to design have been successful in managing and portraying the information effectively. Smaller construction firms have started to embrace this trend involving BIM technology that was once reserved only for the bigger companies. Firms are investing heavily in BIM as it will eventually become essential in acquiring and analysing vital architectural information for design and construction processes. This technological innovation will help improve the performances of buildings as well as benefit elements of the construction industry. The gradual implementation of BIM and advanced technological techniques will provide firms with an edge over competitors for projects and design competitions.
The potential use of virtual reality within the architectural design process and construction is a current topic being considered regarding the possibilities and applications in future projects. This offers a potential new medium for structures to be conceived and experienced prior to final design decisions and construction, allowing for clients to experience their buildings first-hand and therefore make sure the design is successful and as they wished. The inclusion of new technologies allows for most architectural services to be utilised from remote locations and this creates and establishes possibilities for a plethora of opportunities abroad.
In conclusion, advancements in technology, as well as innovation regarding sustainability are anticipated to be the key growth factors to emerge in the architectural market in the near future. There is always constant development and advances in construction, infrastructure and technology within the architectural field with specific economic, social and commercial factors that encourage successful completion of projects through adhering to market patterns and trends.
References | Market dynamics
Investopedia. 2021. Market Dynamics. [online] Available at: <https://www.investopedia.com/terms/m/market-dynamics.asp> [Accessed 14 August 2021].
Grandviewresearch.com. 2021. Global Architectural Services Market Size Report, 2021-2028. [online] Available at: <https://www.grandviewresearch.com/industry-analysis/architectural-services-market> [Accessed 14 August 2021].
