The design, research, promotional and consulting services market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF) the global GDP growth reached 3.2% in 2019 and 3.5% in 2020. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India’s GDP reached 7.2%, whereas China’s GDP growth reached 6.0% in 2020. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period.
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The global design, research, promotional and consulting services market size is expected to grow from $3987.91 billion in 2021 to $4401.17 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The growth in the design, research, promotional and consulting services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact. The design, research, promotional and consulting services market is expected to reach $6257.62 billion in 2026 at a CAGR of 9.2%.
Companies in the design, research, promotional and consulting services market are shifting from the traditional per-hour and per-month revenue model to a value-oriented revenue model. In line with increasing wages and pressure from clients to decrease 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.
The global design, research, promotional and consulting services industry is segmented by type into 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 ; by mode into online, offline; by service provider into large enterprise, small and medium enterprise.
Major companies in the design, research, promotional and consulting services market include Accenture, Deloitte Touche Tohmatsu Limited, Total SA, PowerChina, WPP plc, PwC, Ernst & Young, Omnicom Group Inc., Jacobs Engineering Group Inc. and Fluor Corporation.
Design, Research, Promotional And Consulting Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a design, research, promotional and consulting services market overview, forecast design, research, promotional and consulting services market size and growth for the whole market, design, research, promotional and consulting services market segments, geographies, design, research, promotional and consulting services market trends, design, research, promotional and consulting services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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