The design, research, promotional and consulting services (also referred to as general professional services) market comprises establishments offering expertize and services to a wide range of industries, in some cases households and individuals. Activities include architectural, engineering, specialized design services, research services, advertising services, photographic services, translation, interpretation and other design, research, promotional and consulting services. General professional services is hereby referred as design, research, promotional and consulting services.
The top five companies covered are WPP PLC, Deloitte LLP, Omnicom Group, PwC LLP and Ernst & Young LLP. WPP was the largest company in the design, research, promotional and consulting services market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Design, Research, Promotional and Consulting Services Global Market Size
The global design, research, promotional and consulting services market was valued at around $4 trillion in 2017. North America was the largest region in the design, research, promotional and consulting services market in 2017, accounting for above 33% market share. The USA was the largest country in the market in 2017, accounting for under 27% market share.
Design, Research, Promotional and Consulting Services Global Market Trend
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.
Design, Research, Promotional and Consulting Services Global Market Segmentation
The design, research, promotional and consulting services market is segmented into Architectural, Engineering Consultants And Related Services; Scientific Research And Development Services; Management Consulting Services; Advertising, Public Relations, And Related Services; Market Research Services; Specialized Design Services; Photographic Services, and Environmental Consulting Services.
Architectural, Engineering Consultants And Related Service companies handle planning, designing and supervision of construction related to a wide range of industries.
Scientific Research And Development Service organizations are engaged in research and experimental development in the areas such as biotechnology, physical sciences, engineering sciences, life sciences and social sciences.
Management Consulting Service companies offer organization planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling services.
Advertising, Public Relations, And Related Service establishments offer services for planning, developing, creating and managing advertisement and promotional activities.
Market Research And Other Design, Research, Promotional And Consulting Services comprise companies that offer services such as aiding in marketing activities, studying and analyzing the market as per client needs and specifications.
Specialized Design Service establishments offer interior design, industrial design and graphic design services. Customers of specialized design services include hospitality, healthcare, construction and publishing companies.
Photographic Service establishments capture images and it includes editing, processing, and presentation pictures as desired by customers. It also includes school portraits, wedding photography, special occasions and event photography.
Environmental Consulting Service establishments offer advice, assistance, and action plans to organizations and governments to manage their environment. Customers of environmental consulting service companies include businesses, governments, as well as private households.