The global graphic design market is expected to secure a valuation of US$ 50.4 billion in 2022. During the forecast period of 2022-2032, the market for graphic designing is expected to exhibit a CAGR of 5.2% and reach US$ 83.8 billion by the end of 2032.
An audience is given information through the use of words, images, and other visual elements in graphic design. Web development relies heavily on graphic design to direct people towards business objectives through the website. It is a cutting-edge tool for boosting consumer involvement, boosting brand recognition, and effectively reaching the target market. A well-designed website makes a good first impression on visitors and increases the company’s reputation.
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A well-designed website makes a good first impression on visitors and increases the company’s reputation.The offer in this section includes a variety of opportunities, such as the ability to manufacture goods, appropriate them, sell them at retail, and provide showcasing services. The analysts at Fact.MR have used extensive rounds of both necessary and optional research to arrive at various estimations and projections for the demand for graphic design at both the global and regional levels.
Advanced Technology Integration
This sector is expected to reach new heights as augmented reality and 3D printing are combined with graphic designs. The creation of conceptual items and prototyping, which is gaining popularity in the automotive, architectural, and other industries, is made possible by augmented and virtual reality.
With the deployment of 3D printing, designers can produce visual advancements with the highest efficiency possible in terms of time, quality, and cost. The market is expanding as a result of the 4D technology’s expanding development and integration.
Artificial intelligence is revolutionising the world of graphic design (AI). It provides designers with a number of benefits, including process automation and simplification. The adoption of AI software is anticipated to enhance user experiences generally and speed up time-consuming procedures.
Very Limited Number of Knowledgeable and experienced Professionals
Significant barriers to industry expansion include fierce rivalry among design service providers and a lack of qualified workers. With innovations like smartphones, tablets, and various IoT (Internet of Things) programmes, designers must update their skill sets.
In addition, as most professionals are less familiar with 4D, AI, AR & VR, and other technologies, it may be difficult for intermediates to break into the graphic design field.
Competitive Landscape
The global graphic design service market is expected to be highly competitive with the presence of several new and established organizations making strategic moves such as acquisitions, incorporations, and others.
For instance:
- In 2017, WPP announced the acquisition of leading independent brand design agency Design Bridge. The acquisition is focused on strengthening the company’s service offerings and enhancing its global footprint.
- In May 2022, Drama Llama Designs, a graphic design services platform, was incorporated by Vasudha Kedia, in Nassim Road, Singapore.
Key Companies Profiled
- AKQA
- Chermyeff & Geismar & Haviv
- Dessein
- Frog Design
- Happy Cog
- House Industries
- Landor & Fitch
- Leo Burnett
- McFaul+Day
- MetaDesign
- others