Specialized Design Services Market Characteristics
The specialized design services market consists of sales of specialized 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.
Competitive Landscape of the Specialized Design Services Market
Major players in the global specialized design services market include Callison RTKL, Gensler, Perkins+Will Inc, HOK Group Inc, Frog Design Inc.
Specialized Design Services Market Size
The specialized design services market size is expected to reach around $220 Billion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the specialized design services market is due to increase in emerging markets growth, technology development, and demographic shift.
However, the market for specialized design services is expected to face certain restraints from several factors such as weak wage growth in developed economies and skills shortages.
Specialized Design Services Market Segmentation
The global specialized design services market is further segmented based on type and geography.
By Type - The specialized design services market is segmented into interior design services, graphic design services, industrial design services, fashion and other design services among these segments, the interior design services accounts for the largest share in the global specialized design services market.
By Geography - The global specialized design services is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global specialized design services market.
Trends in the Specialized Design Services Market
Digital graphic design services are being widely used to promote brands and products. They are used to define brands, differentiating the brand from its competitors and eliciting responses more effectively than text. Many companies are posting content with graphic images on social media platforms such as Twitter and Facebook to communicate to their target group. Examples include infographics, and graphic storytelling. According to Content Marketing Institute B2B use of illustrations in content marketing grew from 69% in 2014 to 76% in 2015, thereby indicating an increasing use of graphic design in content marketing.
Potential Opportunities in the Specialized Design Services Market
With increase in economic growth, increase in the number of internet users and globalization, the scope and potential for the global specialized design services market is expected to significantly rise in the forecast period.