Political Organizations Global Market To Reach Value Of About $11.15 Billion In 2023
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The global political organizations market is expected to grow from $8.88 billion in 2019 to $8.98 billion in 2020 at a compound annual growth rate (CAGR) of 1.18%. The slow growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, the closure of industries, and other commercial activities resulting in a slowdown of the economy forcing the government and other organizations to reallocate grants to emergency relief funds. The market is then expected to recover and reach $11.15 billion in 2023 at a CAGR of 7.48%. The initiatives taken by political organizations to improve the support from businesses in the region drive the market.
The political organizations market consists of revenue generated through political services by entities (organizations, sole traders and partnerships) that are engaged in promoting the interests of national, state, or local political parties or candidates. This market includes political groups organized to raise funds for a political party or individual candidates. Only goods and services traded between entities or sold to end consumers are included.
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The global political organizations market is further segmented based on organization, scope and services, and geography.
By Organization: National, Regional
By Scope and Services: Campaign Organizations, Constituency Associations, Local Political Organization, Political Action Committees (PACs), Political Campaign organizations, Political Organizations And Clubs, Political Parties, Riding Association.
By Geography: The global political organizations market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American political organizations market accounts for 34% and is the largest share in the global political organizations market.
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Trends In The Political Organizations Market
Social media platforms are increasingly being used by political organizations for campaigning. The utilization of social media is viable in reaching out to young voters. There are various ways by which a political party can conduct social media campaigns such as engaging with the public through live video, asking questions on social media such as Twitter and Facebook, being active on social platforms by posting daily updates of their political work, and many more.
Political Organizations Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides political organizations market overviews, analyzes and forecasts market size and growth for the global political organizations market, political organizations market share, political organizations market players, political organizations market segments and geographies, political organizations market’s leading competitors’ revenues, profiles and market shares. The political organizations market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.