The CPS market was valued at around $3 trillion in 2015 and is expected to reach almost $4 trillion by 2020
Category market intelligence analysts have announced the latest market research report on construction professional services for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the CPS market during the forecast period. Some of the key vendors in this market include AECOM, Bechtel, Jacobs Engineering Group, Fluor, and Amec Foster Wheeler.
In terms of geographical analysis, APAC is anticipated to be the fastest growing region in the market, thanks to the surge in the number of social, commercial, industrial, and residential infrastructure projects in the region to meet growing demand in economies such as China, Malaysia, Thailand, Singapore, and India.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “One of the latest trends gaining traction in this market is the growing demand for energy-efficient infrastructure. Owing to the need to keep greenhouse emissions in check and meet the regulatory conditions, there has been a huge surge in demand for energy-efficient buildings. Moreover, the demand for civil and industrial infrastructure has increased significantly in several APAC regions such as Singapore, India, and China, which has resulted in the overall growth of the construction industry.”
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CPS firms are operating in a highly competitive environment and are considerably implementing advanced technologies to improve building design, planning, and assessments to occupy larger market shares. The demand for CPS services is especially high in planning applications, infrastructure, building services, and architectural designs. BIM tools, project collaboration software tools, Big Data analytics, and 3D-modeling are some of the key mechanisms used by the leading CPS providers to boost efficiency in construction-related services and gain market leadership.
A more detailed analysis is available in the category market intelligence report titled, ‘Construction Professional Services – Category Market Intelligence Report 2016’.
