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Design, Research, Promotional And Consulting Services Market Expansion Continues, with Forecast Valuation of $5989.71 Billion by 2029
Design, Research, Promotional And Consulting Services
Design, Research, Promotional And Consulting Services Market Size Growth Forecast: What to Expect by 2025?
The market size of design, research, promotional and consulting services has seen consistent growth in the last few years. It's projected to elevate from $4526.88 billion in 2024 to $4746.82 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. Factors such as technological progress, globalization, marketing and advertising strategies, as well as consumer behavior have contributed significantly to the historical growth.
How Will the Design, Research, Promotional And Consulting Services Market Size Evolve and Grow by 2029?
The market size of design, research, promotional and consulting services is predicted to witness robust expansion in the coming years. It's projected to escalate to $5989.71 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The surge during this forecast period is due to factors like digital transformation, economic scenarios, environmental issues, and regulatory shifts. Dominant trends during this period are anticipated to be data analytics and AI, sustainability and CSR, the rise of e-commerce and online visibility, along with remote work and the use of collaboration tools.
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What Drivers Are Propelling the Growth of Design, Research, Promotional And Consulting Services Market Forward?
The design, research, promotional and consulting services market is anticipated to expand due to expected stable economic growth. As per a report by the US non-profit organization, the Conference Board, the real GDP is slated to rise by 2.9% worldwide in 2023. Simultaneously, the Organisation for Economic Co-operation and Development, a France-based body, suggests in its June 2023 report a global expected GDP growth of 2.7% in the same year. Moreover, this organization's interim report from September 2023 predicts a 3.0% expansion in the global economy for the year 2023. The prognosticated steady economic growth is projected to amplify investments in end-user markets, subsequently stimulating the market throughout the prediction period.
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What Long-Term Trends Will Define the Future of the Design, Research, Promotional And Consulting Services Market?
Firms operating in the design, research, promotional, and consulting services market are progressively transitioning from traditional hourly and monthly revenue models to a value-based revenue model. This shift is driven by increased salaries and client pressure to reduce costs, prompting many organizations to adopt value-oriented billing practices. Markets, such as management consulting and market research, find value-based billing straightforward to implement since the value (like tax savings, damage awards, ad placements, or the magnitude of an acquisition or merger) is often evident. It's anticipated that a growing number of design, research, promotional and consulting service companies will make the move to value-based pricing, aiming to transition from just being service providers to act as 'advisors'.
What Are the Key Segments in the Design, Research, Promotional And Consulting Services Market?
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:
1) By Photographic Services: Commercial Photography, Industrial Photography, Portrait Photography, Event Photography, Aerial Photography
2) By Market Research Services: Consumer Research, Business-To-Business (B2b) Research, Product Research, Advertising Research, Social Research
3) By Advertising: Digital Advertising, Print Advertising, Television And Radio Advertising, Outdoor Advertising, Social Media Advertising, Influencer Marketing
4) By Public Relations And Related Services: Media Relations, Crisis Communication, Event Management, Corporate Communications, Social Media Management
5) By Scientific Research And Development Services: Life Sciences Research, Physical Sciences Research, Engineering Research And Development, Medical Research, Agricultural Research, Environmental Research
6) By Environmental Consulting Services: Environmental Impact Assessments, Sustainability Consulting, Waste Management Services, Water And Air Quality Testing, Environmental Remediation Services
7) By Management Consulting Services: Strategy Consulting, Operational Consulting, Financial Advisory, Human Resources Consulting, It Consulting, Risk Management Consulting
8) By Specialized Design Services: Graphic Design, Industrial Design, Fashion Design, Interior Design, Web Design, UX/UI Design
9) By Architectural Services: Urban Planning, Residential Architecture, Commercial Architecture, Landscape Architecture, Interior Architecture
10) By Engineering Consultants And Related Services: Civil Engineering Consulting, Electrical Engineering Consulting, Mechanical Engineering Consulting, Structural Engineering Consulting, Environmental Engineering Consulting
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Who Are the Key Players Shaping the Design, Research, Promotional And Consulting Services Market's Competitive Landscape?
Major companies operating in the design, research, promotional and consulting services market include plc, 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.
What Geographic Markets Are Powering Growth in the Design, Research, Promotional And Consulting Services Market?
North America was the largest region in the design, research, promotional and consulting services market in 2024. Western Europe was the second largest region in design, research, promotional and consulting services market. The regions covered in the design, research, promotional and consulting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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