Global Graphic Designer Industry faces intense competition
The global Graphic Designer industry market size saw a sharp 10% fall from US$44.2 billion in 2019 to US$39.7 billion in 2020. The industry gained steady recovery in 2021, growing over 5% to reach US$41.8 billion.
However, the industry is in a tight spot. Not only has it only grown 0.4% a year on average between 2016 and 2021, its growth is slower than global business activities and the economy overall. Recent economic uncertainty has also dealt the industry a heavy blow as it relies on robust advertising expenditures to fuel demand.
Globally, the industry is expected to become more concentrated, with strife competition as remaining players go neck-to-neck for the reduced number of business opportunities.
What strategies would help industry players pull ahead of its competitors?
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