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(MoneyNewsWire.Net, August 28, 2018 ) 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.
Design, research, promotional and consulting services market in this report 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.
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The global design, research, promotional and consulting services market has been growing in the past years with a CAGR of almost 6%. The year 2017 recorded growth in this market with a net market value more than 20% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global design, research, promotional and consulting services market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Companies in the design, research, and 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.
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Companies included in the report are WPP PLC, Deloitte LLP, Omnicom Group, PwC LLP, and Ernst & Young LLP.
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