Building Inspection Services Market
 

Building inspection is a field review of actual building construction to ensure compliance with the Building Code and permitted construction plan. Building certification (also known as inspection) is the process of independently examining and approving building work to ensure that it fulfills the safety, health, amenity, and sustainability standards stated in legislation and building rules. Registered building inspectors contribute significantly to the maintenance and enforcement of building standards in Victoria by assessing building projects on behalf of the local building surveyor. The term "relevant building surveyor" refers to the municipal or private building surveyor who issued the construction permit requiring an examination of building work.
Building work cannot be done until a building surveyor gives a building license, and it must be done in accordance with the Building Act of 1993, building regulations, and the building permit. The goal of the building permit system is to ensure that all buildings and building work comply with building rules and regulations before construction begins, as well as that they fulfill minimum standards and safety requirements once completed.
 

Market Dynamics 

Driver

• Global urbanization is expected to drive the building inspection services market. Cities have grown as more people relocate to them in search of better employment, lifestyles, and opportunities. Global urbanization is expected to be around 56% in 2021. In Europe, the urban population made up 75% of the overall population. Globally, the number of people living in cities is predicted to increase from 56% in 2020 to 70% in 2050.
• Using current technology to drive market expansion. Mobile building inspection software has significantly impacted building inspections.  Take notes on paper as you walk through a building. Using the appropriate building inspection software solutions, data can be entered directly into a mobile device. In essence, this mobility allows you to stay on track.
• Customizable Home Team Dashboard allows agents to examine completed inspections, build repair-request lists, follow up with contacts, and schedule visits for clients. All of this may be accomplished using a smartphone or tablet, making it easier for agents to manage their clients' reports and other data. Using technology like the customisable My HomeTeam Dashboard, agents may evaluate completed inspections, create repair-request lists, and follow up.
• Agents can manage their clients' reports and other data more easily when utilizing a smartphone or tablet.

Restraints 

• Many people avoid building inspections or take shortcuts since the costs of equipment, professionals, personnel, and insurance are prohibitively expensive, not to mention the risks. 
• Building inspection services market is expected to be affected by a manpower shortage.
• Finding building inspectors is tough, especially when specific abilities are required. For example, in September 2020, the San Jose Fire Department reported a manpower shortage to complete fire audits on new structures.In 2019, Philadelphia's
• Department of Licenses and Inspections sought 800 additional building inspectors. 
• This labor shortfall has a direct influence on the company's reputation, as they are unable to deliver timely service.

Opportunity

• Adoption of current technology such as drones, infrared imaging, and building information modeling (BIM) can increase inspection efficiency and accuracy, opening up new markets. Consider how mobile building inspection software improves efficiency. This breakthrough has caused significant changes to the building inspection process.
• Keep a look out for Artificial Intelligence (AI) integrations, which will bring in a new era in technology. Modern technologies. Reduce the cost of building inspections, which represents a good business opportunity.

• Key Players
  AmeriSpec Inspection Services (United States)
  HouseMaster Home Inspections (United States)
  National Property Inspections (United States)
  Pillar to Post Home Inspectors (United States)
  WIN Home Inspections (India)
  Applus+ (United Arab Emirates)
  SAFCO Group (Greece)

• Market Segmentation 
• By Service 

Home Inspection Services

Specific Element Inspection Services

Commercial Building Inspection Services

Others

• By Application

Residential

Commercial

Others

• By Sourcing Type

In-House Services

Outsourced Services
 

Recent Industry Insight

• On April 2023, Global Building Inspection Services Market 2023-2028: Rapid Urbanization Drives Growth, the global building inspection services market is estimated to develop at a CAGR of more than 10% during the forecast period.
• On  July 2021, Global Inspection Software Property Inspect Announces Expansion To Grow UK Commercial Market .
• On June 2020, Wipro introduces a Digital Inspection Solution powered by IBM TRIRIGA to enhance worker safety and experience.
  Recent Merger and Acquisition
• December 2020, Applus+, a Sapin-based firm that offers testing and inspection services, paid an unknown sum for SAFCO Group.Applus+ will be able to expand its service offering in the Middle East as a result of this acquisition.
• On Sep. 2022, Bureau Veritas, a global leader in testing, inspection, and certification (TIC), announced the strategic acquisition of C.A.P. Government, Inc. (CAP), a Florida-based company that provides building department services.
• On July 2023, Healthy Buildings International is being acquired by UL Solutions. This acquisition broadens UL Solutions' global expertise in indoor environmental quality, health and safety, and building performance across the built environment value chain.
   
• Key Target Audience
  End User
  Potential Investors
  New Entrants
  Innovation and R&D
  Suppliers and Manufacturers