The Business Research Company’s report on the Design, Research, Promotional And Consulting Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the design, research, promotional and consulting services market’s growth in recent years?
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.
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How does the future projection of the design, research, promotional and consulting services market size compare to its historical growth?
The design, research, promotional and consulting services market size has grown strongly in recent years. It will grow from $4541.12 billion in 2024 to $4774.95 billion in 2025 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 $5994.83 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. 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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Which key players are shaping the future of the design, research, promotional and consulting services market?
Major companies operating in the design, research, promotional and consulting services market include Accenture 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 trends will propel the growth and evolution of the design, research, promotional and consulting services market?
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.
Which regions are expected to become dominant players 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 2023. 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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What are the emerging key segments in the design, research, promotional and consulting services market, and how are they evolving?
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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What defines the structure and scope of the design, research, promotional and consulting services market?
A design is a plan or something made in the arts or fashion. It is a strategy for arranging elements in the most effective way to achieve a specific goal. Research is described as the creation of new knowledge and/or the creative application of existing knowledge to generate new concepts, methodologies, and understandings. Promotional services are those that aid in spreading the word about a given good, service, or business. Consulting services refer to the delivery of knowledge or strategic counsel that is made available for consideration and judgement.
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