Press release
Design Services Market Development, Trends, Key Driven Factors, Segmentation And Forecast To 2020-2022
The global market for design services reached a value of nearly $153.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 11.6% since 2014, and is expected to grow at a CAGR of 13% to nearly $249.5 billion by 2022. Growth in the historic period resulted from strong economic growth in emerging markets, rapid technological developments, demographic shifts, and growth in the remodeling industry.
The Key drivers of the design services market include:
Rapid Technological Developments – During the historic period, technological development was a significant driver of the design services market. Areas of rapid technological changes included electronic equipment, software and telecommunications.
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Design Services Market Segmentation
The Design Services market is segmented by type of service and by geography
By Service Type - The design services market can be segmented by type of service into
1) Industrial Design Services
2) Graphic Design Services
3) Interior Design Services
4) Fashion And Other Design Services
The industrial design services market was the largest segment of the design services market in 2018 at 31.9%. The interior design services market is expected to be the fastest-growing segment going forward at a CAGR of 14.5%.
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By Geography - The design services market is segmented into
1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa
Some of the major key players involved in the design services market are
1. John Wood Group PLC
2. Altran Technologies, SA.
3. Gensler
4. Jacobs Engineering Group Inc.
5. Arcadis NV
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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