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Unleashing Innovation: The 2024 Global Market Trends in Design and Consulting Services
As per the report, the design, research, promotional and consulting services market size has grown strongly in recent years. It will grow from $4572.84 billion in 2023 to $4805.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The design, research, promotional and consulting services market size is expected to see strong growth in the next few years. It will grow to $5915.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
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Stable Economic Growth Fuels Expansion Of The Design, Research, Promotional, And Consulting Services Market
Stable economic growth is expected to propel the growth of the design, research, promotional, and consulting services market going forward. For instance, in September 2023, according to the report published by the Conference Board, a US-based non-profit organization, real GDP will increase by 2.9% globally in 2023. According to another report published in June 2023, by the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, global GDP growth in 2023 is projected to be 2.7%. Additionally, the OECD's Interim Report published in September 2023 projects that the global economy would expand by 3.0% in 2023. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
Transitioning Towards Value-Oriented Billing Models In Design, Research, Promotional, And Consulting Services
Companies in the design, research, promotional, and consulting services market are shifting from the traditional per-hour and per-month revenue models to a value-oriented revenue model. In line with increasing wages and pressure from clients to lower pricing, many companies are shifting towards value-oriented billing. Value-oriented billing is easy to apply in markets such as management consulting and market research since the value (such as tax savings, damage awards, ad placements, or the size of an acquisition or merger) is often explicit. It is expected that more design, research, promotional, and consulting service providers will shift to value-based pricing as they try to become ""advisors"" rather than just service providers.
The design, research, promotional and consulting services market covered in this report is segmented -
1) By Type: Photographic Services, Market Research Services, Advertising, Public Relations, And Related Services, Scientific Research And Development Services, Environmental Consulting Services, Management Consulting Services, Specialized Design Services, Architectural, Engineering Consultants And Related Services
2) By Mode: Online, Offline
3) By Service Provider: Large Enterprise, Small and Medium Enterprise
Subsegments Covered: Portrait Studios Services, Commercial Studios, Marketing Research And Analysis Services, Public Opinion And Election Polling, Advertising Agencies, Other Advertising Services, Public Relations, Direct Mail Advertising, Billboard & Outdoor Advertising, Media Buying Agencies And Representative Firms, Print Advertising Distribution, Social Sciences And Humanities Services, Physical, Engineering, And Life Sciences, Nanotechnology Services, Biotechnology Services, Site Remediation Consulting Services, Other Environmental Consulting Services, Water And Waste Management Consulting Services, Environment Management, Compliance And Due Diligence, Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, Other Consulting Services, HR Advisory, Interior Design Services, Graphic Design Services, Industrial Design Services, Fashion And Other Design Services, Engineering Services, Architectural Services, Laboratory Testing Services, Surveying & Mapping Services, Building Inspection Services, Geophysical Services, Drafting Services
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Major companies operating in the design, research, promotional and consulting services market include Deloitte Touche Tohmatsu Limited, Total SA, PowerChina, WPP plc, PricewaterhouseCoopers International Limited, Ernst & Young, Omnicom Group Inc., Jacobs Engineering Group Inc., Fluor Corporation, Power Construction Corporation of China Ltd., International Business Machines Corporation, McKinsey & Company Inc., Boston Consulting Group Inc., Bain & Company Inc., KPMG International Limited, Nielsen Holdings plc, Ipsos SA, GfK SE, Kantar Group Holdings Limited, Forrester Research Inc., International Data Corporation, Frost & Sullivan Inc., Navigant Consulting Inc., ICF International Inc., Booz Allen Hamilton Holding Corp., Kearney, Oliver Wyman Group Inc., Mercer Inc., Willis Towers Watson Holdings plc, Marsh & McLennan Companies Inc., Huron Consulting Group Inc., FTI Consulting Inc., AlixPartners UK LLP, Alvarez & Marsal Holdings LLC.
Contents of the report:
1. Executive Summary
2. Design, Research, Promotional And Consulting Services Market Report Structure
3. Design, Research, Promotional And Consulting Services Market Trends And Strategies
4. Design, Research, Promotional And Consulting Services Market - Macro Economic Scenario
5. Design, Research, Promotional And Consulting Services Market Size And Growth
…..
27. Design, Research, Promotional And Consulting Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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