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Global Design, Research, Promotional And Consulting Services Market Growth Prospects, Future Industry Landscape 2033
Design, Research, Promotional And Consulting Services Global Market Report 2024
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According to The Business Research Company's, 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 growth in the historic period can be attributed to technological advancements, globalization, marketing and advertising, consumer behavior.
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%. The growth in the forecast period can be attributed to digital transformation, economic conditions, environmental concerns, regulatory changes. Major trends in the forecast period include data analytics and ai, sustainability and csr, e-commerce and online presence, remote work and collaboration tools.
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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
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.
Design, Research, Promotional And Consulting Services Market 2024 Key Insights:
• 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%.
• Stable Economic Growth Fuels Expansion Of The Design, Research, Promotional, And Consulting Services Market
• Transitioning Towards Value-Oriented Billing Models In Design, Research, Promotional, And Consulting Services
• North America was the largest region in the design, research, promotional and consulting services market in 2023
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