Rose Marshall, Associate Director at ING Media, highlights how ING’s data driven  ‘Architecture Tomorrow’ report guides architects in securing investments and drive business growth.

It’s been a tough few years for architects and engineers. The tumultuous economic landscape, combined with political upheaval and policy changes, has meant that operating a profitable business is more challenging than ever.

ING has experienced many economic cycles over our first 25 years. We have seen the difficulties that downturns can inflict upon practices. If investment slows, development falters and projects go on hold. Being further down the food chain – and relying on those above – makes business planning challenging. That’s why it’s critical that practices understand the market forces at play, so they can adapt, be resilient and thrive in the long-term. 

Enter: ‘Architecture Tomorrow: Resilience in Practice’ – ING’s latest research report that bridges investment and architecture. Drawing from various data sources and expert analysis, it gives architects and engineers the tools they need to make informed decisions about the future of their businesses. 

Our research shows that there are reasons to be cheerful: fees are increasing; homegrown practices continue to sprout and thrive, and international firms are increasingly expanding their operations in the UK. The Government has a clear mission to drive economic growth through investment in infrastructure and housing delivery, potentially providing a windfall of opportunity.  

The top ten sectors with the greatest growth prospects, as reported in the latest ULI/PwC Emerging Trends In Real Estate report, which surveys a cohort of European investors, illustrates this swing towards infrastructure and housing, as well as education. New infrastructure and data centres have topped the rankings in recent years, backed up by a variety of alternative living sectors – but this year marks the first time that education real estate (university labs and teaching spaces) has featured in the top ten. 

Globally, the share of total investment into specific sectors is converging as investors spread their bets and diversify their portfolios, instead of going for broke on one asset class. In 2024, retail enjoyed a renaissance after a period of investor malaise; the industrial sector was the outright winner as consumers shifted to online spending; but – the office sector continued to plateau as the sector recalibrates in terms of supply and demand, and the living sector has been hit by higher interest rates and construction costs.

In my 15 years of working with architects and engineers, I’ve learnt that many practice leaders are either unaware that such information exists or are reticent to engage with it. There is also often a disconnect between business development and communications, when the two should be completely intertwined. For a practice to successfully target new clients or move into a new sector or market, there needs to be a clear and comprehensive communications strategy in support. 

Our research shows that currently the UK’s architects are talking too much about what they’re currently doing, instead of where the opportunities lie i.e. tactically aligning themselves with investors and developers. You’re very unlikely to win your first data centre commission if you’re constantly talking about housing, for example. 

We are firm believers in the adage that ‘knowledge is power’. Whilst it’s clear that the current economic climate is making it difficult for architects to be strategic about business decisions, we hope this report will inspire practice leaders to step back, embrace the data and think about how they can use communications to future proof their businesses.