Specialized Design Services Global Market To Reach Value Of About $174 Billion In 2025
14 Jun, 2021
The specialized design services market consists of sales of specialized design services such as interior, industrial, graphic and fashion design services and related goods by entities (organizations, sole traders and partnerships) that plan, design and administer projects as required by client specifications. The specialized design services market does not include architectural, engineering and computer system design services. Specialized design services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.
Global Specialized Design Services Market Size And Drivers:
The global specialized design services market is expected to grow from $119.05 billion in 2020 to $127.11 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $174.21 billion in 2025 at a CAGR of 8%. As overseas travel is becoming prevalent, awareness of the latest design trends is increasing. Therefore, many companies have access to more globalized and advanced design services.
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Trends In The Global Specialized Design Services Market
Virtual reality and augmented reality technologies are being widely used by interior design service providers to provide customized design to customers and offer low cost design plans in a short time span. Virtual reality is the use of computer technology to create a computer stimulated visuals and augmented reality is a real environment objects supplemented with computer-generated information through sensory inputs. These technologies aid in reducing rework, increase quality, lower labor costs, improve safety, streamline collaboration and aid in project management. For instance, Decorilla, an online interior design service provider, is providing AR and VR based technologies for interior designing. Large companies such as Google, Facebook, and Samsung are also widely using these technologies to increase productivity and enhance quality associated with designing.
Global Specialized Design Services Market Segments:
The global specialized design services market is further segmented based on type, mode and geography.
By Type: Interior Design Services, Graphic Design Services, Industrial Design Services, Fashion And Other Design Services
By Mode: Online, Offline
By Geography: The global specialized design services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global specialized design services market, accounting for 35% of the market in 2020.
Read More On The Report For The Global Specialized Design Services Market At:https://www.thebusinessresearchcompany.com/report/specialized-design-services-global-market-report-2020-30-covid-19-impact-and-recovery
Specialized Design Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides specialized design services market overviews, analyzes and forecasts market size and growth for the global specialized design services market, specialized design services market share, specialized design services market players, specialized design services market segments and geographies, specialized design services market’s leading competitors’ revenues, profiles and market shares. The specialized design services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.