DECEMBER 20228EP, which is a full form of Mechanical, Electrical, and Plumbing, is a type of engineering which focuses on the creation of a safe environment for human utilization. For construction and renovation projects, it is an MEP consulting field that helps in the development in architecting of a building project, and engineering while making a difference in the project value. Being a consulting firm, the MEP consultants offer efficient and fervent services.Market SizeIn Asia Pacific Architectural Services Market is projected to register a CAGR of approximately 4.2 percent in the timeline of 2021-2026. Architectural planning has overseen degree shifts in the last few years as a result of the emergence of computer software, advancements in digital design tools, computer-controlled fabrication, computer-controlled connectedness, and inter-connectedness, which have allowed a new phase of the designs and development of processes.Factors Enabling The Growth1. The services comprise a plethora of services in the process, which include feasibility studies, architectural programming, project management in the alignment of design, starting of construction documents, and construction administration. The ever-growing demand for green building projects is driving architectural services with sustainable construction providing important welfare and business opportunities. In addition, the return on investment can be improved, along with occupancy for saving costs.2. The Asia Pacific region is characterized by an ample amount of ongoing-upcoming infrastructural projects, in particular smart city projects, in the countries of Singapore, China, Japan, and India, which might able to create a demand for architectural services. As per the India Brand Equity Foundation (IBEF), the real-estate sector in India is expected for reaching a value of USD 1 trillion in 2030, which may account for over 13 percent of the country's GDP by 2025. 3. In the context of technology insertion, homes are taking the help of automation and transforming into smart homes. New buildings are designed which is a top-notch priority. Automated systems are aiding with functions such as security, temperature control, and lighting, which help control billing and have positive impacts on the environment and surroundings. 4. The renowned companies are offering architectural services which are impacted by the COVID-19 pandemic. The pandemic led to nationwide lockdowns in most of the countries that have caused a complete halt in projects in the Asia Pacific. The market is projected to regain pace with the condition in continuous improvement and is moving towards normalcy because of the widespread vaccination in the COVID-hit locations. 5. Moreover, the architectural industry in the region is growing considerably, with an increasing number of new architectural firms that are making an entry into the market with innovative designs, and software, helping in the betterment of services, with enhancement in urban planning. The advancements are projected to increase the demand for the upgradation of design technology by involving 3D models and high-end designing software. The entry of newer players is backed by several investments from venture capital firms, which are supporting the growth of the studied market.EDITORIAL EXCLUSIVEASIA'S MEP CONSULTANCY MARKET IS AT A KINETIC POINTM
< Page 7 | Page 9 >