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Political Organizations, Industry Growth, Global Trends, 2024-2033
Political Organizations, Industry Growth
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According to The Business Research Company's, The political organizations market size has grown steadily in recent years. It will grow from $4.3 billion in 2023 to $4.41 billion in 2024 at a compound annual growth rate (CAGR) of 2.6%. The growth in the historic period can be attributed to growth in political stability and instability, legislation and regulatory environment, public opinion and perception, economic trends and policies, global geopolitical events.
The political organizations market size is expected to see steady growth in the next few years. It will grow to $4.9 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to anticipated regulatory changes, future public opinion trends, economic projections, global geopolitical developments, emerging social movements. Major trends in the forecast period include transparency initiatives, voter engagement platforms, diverse candidate representation, crisis communication planning, mobile campaigning.
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Market Drivers and Trends:
The initiatives taken by political organizations to improve the support from businesses in the region drive the market. For instance, the Bhartiya Janata Party government in India has promoted reforms that may boost the economy by helping small and medium enterprises to expand their businesses. It launched the Make in India initiative to bring in businesses into the country to boost economic activity and create jobs. These initiatives will help businesses to expand their revenue streams and in turn, encourage businesses to support political organizations by funding them.
Major companies operating in the political organizations market are innovating new technologies such as Globalpolicy.ai to increase their profitability in the market. Globalpolicy.ai is a portal that provides information to the general public and policymakers about projects created by various organizations that work towards the same objective of generating impact via intergovernmental collaboration on artificial intelligence. For instance, in September 2021, The United Nations Educational, Scientific and Cultural Organization, a France-based specialized agency launched Globalpolicy.ai. The portal offers real-time news on artificial intelligence from political organizations and informs the public and policymakers about efforts created by various institutions that advance the shared objective of making an effect through intergovernmental collaboration on artificial intelligence.
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Major Key Players of the Market:
Democratic Party, Republican Party, Communist Party of China, Bharatiya Janata Party, Indian National Congress, Justice and Development Party, Pakistan Tehreek-e-Insaf, United Socialist Party of Venezuela, Workers' Party of Korea, United Russia, National Front, Liberal Democratic Party, African National Congress, National Action Party, National League for Democracy, Canadian Liberal Party, Scottish National Party, Australian Labor Party, Sinn Féin, Kuomintang, All Progressives Congress, Social Democratic Party, Israeli Labor Party, Swedish Social Democratic Party, Democratic Alliance, People's Action Party, Bangladesh Awami League, Progressive Conservative Party, Brazilian Democratic Movement Party, Irish Republican Sinn Féin, Polish Law and Justice Party, Popular Party, New Democratic Party, Pirate Party International
Political Organizations Market 2024 Key Insights:
• The political organizations market size is expected to see steady growth in the next few years. It will grow to $4.9 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%.
• Political Initiatives Catalyzing Business Support In The Region
• Enhancing Intergovernmental Collaboration In Artificial Intelligence Through Information And Public Awareness
• Asia-Pacific was the largest region in the political organizations market in 2023
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