Corporate Identity Design Market Report 2024 - Corporate Identity Design Market Share And Trends

"The Business Research Company recently released a comprehensive report on the Global Corporate Identity Design Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The corporate identity design market size has grown rapidly in recent years. It will grow from $7.57 billion in 2023 to $8.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to rise in demand for effective brand communication, expansion of global businesses, need for consistent brand representation, increased demand for corporate branding services from small and medium enterprises, rise in demands in emerging countries.

The corporate identity design market size is expected to see rapid growth in the next few years. It will grow to $14.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to growing significance of online presence and digital channels, increasing globalization, increasing demand for corporate branding services, increasing competition among businesses to establish a unique brand identity, growing recognition of the importance of visual communication in brand building. Major trends in the forecast period include advancements in technology, demand for aesthetically designed logos, demand for customization and storytelling, development of visual language, popularity of digital media.

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Market Drivers and Trends:
The growing significance of online presence and digital channels is expected to propel the growth of the corporate identity design market going forward. Online presence and digital channels refer to the different methods a brand or business uses to establish and maintain its presence on the internet. The growing significance of online presence and digital channels can be attributed to increased brand awareness and visibility, enhanced customer engagement, improved customer support, and cost-effective marketing. Corporate identity design enhances brand recognition, fosters trust, and improves user experience, all contributing to a stronger, more compelling online presence. For instance, in February 2024, according to a report published by the gov.UK, a UK-based government website, in 2022, the digital sector contributed $171.25 million to the UK economy, accounting for 7.2% of the total UK gross value added (GVA), which represents a slight increase from 7.1% in 2021, based on current prices. Therefore, the growing significance of online presence and digital channels is driving the growth of the corporate identity design market.

Major companies operating in the corporate identity design market are developing innovative logos, such as Search Context, using AI to engage audiences across various digital platforms. Search context is an innovative brand identity leveraging AI's unique features that aim to empower consumers more vulnerable to online fraud and help bring about change in the digital realm. For instance, in September 2023, Truecaller, a Sweden-based smartphone app company, launched Search Context, a new brand identity that includes a refreshed logo and a powerful new anti-fraud feature. The new branding enhances user security and provides real-time information about phone numbers. This AI identity engine provides users with contextual information about phone numbers. When users search for a number, they will receive notifications if the name associated with that number has recently or is frequently changing.

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Major Key Players of the Market:
Frog Design Inc., WPP PLC, Omnicom Group Inc., Interpublic Group, Avery Dennison Corp, ACCO Brands Corp., VistaPrint, Trotec Laser Inc., Drytac Corp., FASTSIGNS International Inc, Signarama Inc., Lippincott Williams & Wilkins, Pentagram, Image360, Laminators Inc., Signs By Tomorrow co., IDEOWORKS Digital Marketing Agency, DesignerPeople, Wieden+Kennedy, Chermayeff & Geismar & Haviv, OH! Design Studio, King of Hearts, Conceptory, NinjaPromo, Gemini Sign Letters

Corporate Identity Design Market 2024 Key Insights:
• The corporate identity design market size is expected to see rapid growth in the next few years. It will grow to $14.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
• The Rising Importance of Digital Presence Is Driving The Corporate Identity Design Market
• Innovative Corporate Identity Designs Leverage AI To Enhance Brand Engagement And User Security
• North America was the largest region in the corporate identity design market in 2023

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