Press release
2024 Global Analysis of Graphic Design Software Trends and Growth
graphic designing software market segments
According to The Business Research Company's, the graphic designing software market size has grown rapidly in recent years. It will grow from $7.57 billion in 2023 to $8.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to stringent regulatory compliance, growth in healthcare expenditure, increased focus on patient safety, rise in diagnostic testing and healthcare services, globalization of clinical trials, demand for traceability in supply chain..
The graphic designing software market size is expected to see strong growth in the next few years. It will grow to $12.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to continued regulatory requirements, advancements in material science, focus on sustainability and eco-friendly labels, increased adoption of rfid and smart labels, global collaboration in clinical research, personalized medicine trends.. Major trends in the forecast period include increasing adoption of rfid technology, rising emphasis on sustainable labeling, integration of smart labels for data management, customization and personalization of labels, stringent regulatory compliance requirements, adoption of color-coded labeling systems..
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Market Drivers and Trends:
The increasing demand for visual content is expected to propel the growth of the graphic design software market going forward. Visual content refers to online content that is predominantly image-based. Graphic design software is used to create and manipulate visual content to empower them to bring ideas to life, communicate messages effectively, and contribute to the overall aesthetics of various media forms. For instance, in December 2023, according to Venngage Inc., a Canada-based software company, around 40% of marketers expect 20-50% of firms will rely substantially on visual content by the end of 2024, with 31.43% expecting more than 50%. Therefore, the increasing demand for visual content is driving the growth of the graphic design software market.
Major companies in the graphic designing software market are focused on adopting cloud-based solutions, such as the freemium creative suite, to provide more accessible and affordable design tools and gain a competitive edge in the market. A freemium creative suite is a software package offering basic features for free, with advanced capabilities available through a premium subscription. For instance, in December 2021, Adobe, a US-based developer of printing, publishing, and graphics software, launched Creative Cloud Express. It's a web and mobile app that makes it easy for anyone to create and share beautiful multimedia content, even without prior design experience. It is integrated with Adobe Firely AI that generate unique designs, remove image backgrounds, and resize content for different platforms.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Wacom, Adobe Inc, Sketch, Autodesk Inc, Canva, Figma, Corel Corporation, Celsys Inc, Serif (Affinity), Pixlr, InVisionApp Inc, Quark Software Inc, Xara Group Ltd, Procreate, DesignCrowd, Venngage Inc, Vectr, PaintShop Pro, ArtRage, Gravit Designer, Pixelmator, BeFunky Inc, Snappa, Lucidpress Inc, Crello, Blender Foundation, GIMP (GNU Image Manipulation Program), ACDSee Photo Editor, CyberLink PhotoDirector, Krita Foundation
Graphic Designing Software Market 2024 Key Insights:
• The graphic designing software market is expected to grow to $12.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Impact Of Visual Content On Graphic Design Software Market
• Cloud-Based Solutions To Provide More Accessible And Affordable Design Tools
• North America was the largest region in the graphic designing software market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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