2013-01-15 16:49:16 -
Global graphic design service led by Schawk
The global graphic design service market has been forecast to hit a value of US$46.7 billion by 2016, driven by the increase in competition among manufacturers, and the mitigation toward consulting services.The increasing need for attractive marketing campaigns and promotions enhances the demand for graphic design services. Many industries depend on graphic design service providers to develop cost-effective and attractive promotional campaigns, including advertisements, public relations materials, promotional boards, billboards, and other promotional activities.The vendors in the market offer realistic and aesthetic designs for products to attract the target audiences. Many industries outsource their graphic design work to graphic design service providers. Therefore, graphic design plays a major role in the promotional activities of many industries across the world.Advertising agencies
are the largest customer for graphic design services and make up approximately 40% of the industry´s revenue. This particular segment can include independent advertising agencies or in-house advertising departments, and the art work can be displayed on TV, through print, or on the Internet.The second largest market is the products packaging segment, which accumulates around 35% of the revenue. Graphic designers in this segment are constantly creating labels in response to social, sporting or musical events depending on the product and their target market.The third and final major market is the magazine and textbook publishing industry, which provides 25% of graphic design revenue. Designers may be employed by publishers to use computer software to create and modify designs, which will be published on books, magazines, and newspapers.Regional economic activity drives demand, because most graphic design firms are small and work locally. The profitability of individual companies depends on accurate bidding, timely delivery of projects, and a steady volume of work.Large companies have advantages in marketing and sales, breadth of services, delivery of complex projects, and supporting ongoing contracts. Small companies can compete effectively by responding quicker, adopting new trends, and specializing by services or markets.The graphic design service sector is highly fragmented and comprise of many smaller players catering to the individual needs of the target customers. The top 50 operating players earn less than 20% of the overall revenues of the sector.During the next five years, a revival in the economy will boost income levels, causing firms to perform better and leading them to increase advertising expenditure. Furthermore, a focus on graphic design services for the expanding online market will support revenue growth.For more information on the global graphic design service market, see the latest research: Global Graphic Design Service MarketFollow us on Twitter @CandMResearch
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