Introduction
Specialized Design Services are services which require specialists who provide their design services among professional, scientific and technical services. As the name suggests, Specialized Design Services comprise companies that are involved in specialized services such as planning, designing and administering projects as per needs and requirement of the client.
The specialized design services market does not comprise architectural, engineering and computer system design services. Industries included in Specialized Design Services are interior design services, industrial design services, Graphic design services, clothing design services and gems & diamonds and precious metal design services.
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Apart from these services Specialized Design Services includes more than 250 different types of large and small scale services listed in these verticals such as management services, business & financial operations services, computer & mathematical services, architecture & engineering services, life, physical, & social science services, education, training, & library services, arts, design, entertainment, sports, & media services, building & grounds cleaning & maintenance services, sales & related services, office & administrative support services, construction & extraction services, installation, maintenance & repair services, production services and transportation & material moving services.
Under NAISC “541400” code is given to Specialized Design Services. Due to the high presence of Specialized Design Services, its market is expected to witness an escalating demand globally.
Specialized Design Services Market: Dynamics
Increasing demand for transportation, management, finance and sales services globally are driving the Specialized Design Services market. Despite long tradition, most of the sectors in Specialized Design Services are still at growing stage and expected to help in the growth of Specialized Design Services market. Many areas such as Arts, Design, Entertainment, Sports, Media, Education, and Training are never ending fields which will have a presence despite any recession or any other problems human faces. Most of the sectors work independently, although they are stakeholders of each other and require services from other sectors which are also a major factor responsible for the growth of this industry.
Despite the growth of large service markets, small services (where profit margin are less and require minimum investments) are getting traction globally and creating a robust demand for Specialized Design Services market.
However, Specialized Design Services depends on the nature of work and tends to fail sometimes. Labor issues, financial problems, lack of infrastructure and machinery are some of the common causes of failure of specialized services globally. Also, costly labor and high costs in North America and Europe are shifting Specialized Design Services related companies to APEJ region due to cheap labor, cheap land, easy regulations and small investments and the weak currency.
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Specialized Design Services Market: Segmentation
Specialized Design Services market can be segmented on the basis of type of sectors, which include:
- Management Services
- Business & Financial Operations
- Computer & Mathematical Services
- Architecture & Engineering
- Life, Physical& Social Science
- Education, Training & Library
- Arts, Design, Entertainment, Sports & Media
- Building & Grounds Cleaning & Maintenance Services
- Sales & Related Services
- Office & Administrative Support Services
- Construction & Extraction Services
- Installation, Maintenance & Repair Services
- Production Services
- Transportation & Material Moving Services
Specialized Design Services Market: Regional Outlook
Regional coverage for Specialized Design Services market includes North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East and Africa (MEA) and Japan. Specialized Design Services market will witnesses a high demand in APEJ due to the high investments in the region and cheap labour cost. Market in India and China is still at growth stage which will fuel the market for next ten years in the region.
Specialized Design Services Market: Key Players
The market players in Specialized Design Services market are SME, Frog Design Inc., M. Arthur Gensler Jr. & Associates, Inc., HOK, Hirsch Bedner Associates, Perkins and Will, Callison RTKL and many more
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