What are the current industry trends?
Design services, encompassing fields such as graphic design, interior design and industrial design, have seen a major shift in trends recently. Digitisation has been the master player in reshaping the industry, with services moving towards online platforms, enabling the capture of a larger, more global market. Additionally, there's been a rising demand for green and sustainable designs which results from increased environmental awareness among consumers.
What is driving these trends?
The propulsion of these trends can be attributed to technological advancements and changing consumer preferences. The integration of advanced technology like AI, VR and 3D modelling has not only streamlined design processes but has also enriched the outcome of design services. Furthermore, rising demands for individualised and unique designs in line with evolving tastes have nudged firms to drive innovation.
What future strategies should industry players adopt?
To enjoy sustained growth, industry players should lean into digitisation, employ advanced technology and stay abreast of rising design trends. Embracing sustainability in designs as a core business practice rather than a marketing tactic may also be vital for future growth. A further focus should be on making services customizable to individual client needs, thereby creating a unique value proposition and driving consumer satisfaction.
Key Indicators
- Specialised Design Services Revenue
- R&D Investment in Design Technology
- Industry Growth Rate
- Regulatory Environment and its Impact
- Trends in Client Industries
- Labour Market Conditions in the Design Services Sector
- Global Competition in Specialised Design Services
- Economic Conditions and its Impact on Consumer Spending
- Advancements in Design Software and Tools
- Demand for Sustainable and Eco-friendly Design Services
Key Trends
- Technology-Driven Design
- Sustainable Design Practices
- Integration of AR/VR Technology
- Growth of Design Outsourcing
- Rise of Customized Design Services
- Emergence of Collaborative Designs
- Increasing Demand for Design Automation
- Impact of Regulations and Standards
- Shift towards Market Research-Based Designs
- Exploiting Social Media and Digital Platforms