Architects in the US Industry Market Research Report from IBISWorld has Been Updated

After a collapsing construction market significantly hampered revenue, a recovery in nonresidential and residential building construction will support growth. For these reasons, industry research firm IBISWorld has updated a report on the Architects industry in its growing industry report collection.

Los Angeles, CA (PRWEB) February 01, 2013

Nevertheless, the construction market has recently shown signs of recovery. As a result, Architects industry revenue is expected to increase 4.7% in 2013, with demand from nonresidential construction anticipated to rise 6.0%. In addition, profit margins are expected to increase in 2013, up from a postrecession low in 2010. However, profit margins remain below the level achieved in 2008. To maintain margins, many large firms have taken cost-cutting measures, such as laying off workers. Consequently, the number of industry employees has fallen at an average 2.3% per year during the past five years. This industry is characterized by many small-scale consultants, often individual proprietors and partners, that operate in narrow geographic markets, adds Sherman. The fragmented nature of this industry is also evident when comparing the size of enterprises that have employees. The industry's low level of concentration means that no firm holds a dominant position in the market. In 2013, IBISWorld expects the number of enterprises in the industry to expand as the broader economy shows signs of a sustained recovery. During the next five years, industry concentration is not expected to increase. While more clients are expected to use larger firms that can provide a wide array of services, the number of operators is expected to counteract growth in large companies as the construction market improves.

During the next five years, industry operators will continue to benefit from improvements in the downstream construction markets. The volume of construction projects will increase as access to credit becomes more readily available for clients. Demand from nonresidential and residential construction is forecast to rise; similarly, industry revenue is forecast to increase in the five years to 2018. Industry operators will look to offer more value-added and environmentally friendly services as the level of competition grows from one-stop, full-service building and engineering firms. For more information, visit IBISWorlds Architects in the US industry report page.

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IBISWorld industry Report Key Topics

Architects plan and design residential, institutional, leisure, commercial and industrial buildings and structures by applying their knowledge of design, construction procedures, zoning regulations, building codes and building materials. This industry also provides drafting services, which includes drawing detailed layouts, plans and illustrations of buildings, structures and systems.

Industry Performance

Executive Summary

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Architects in the US Industry Market Research Report from IBISWorld has Been Updated