Direct marketing services industry is booming
22 August 2019
According to a new report from Marketing Insights, the global direct marketing services industry is booming. This will be welcome news to the DM sector in the UK, which although remaining positive in the face of GDPR, has lost budget share to digital channels as organisations get to grips with what the new legislation means in practice.
Within the report direct marketing services are mainly classified into four types: Direct Mail, Telemarketing, Email marketing and Text (SMS) Marketing. Direct Mail was found to be the most widely used type which takes up about 30 per cent of the global total.
The market is valued at $5220 million and is expected to reach $5830 million by the end of 2024, growing at a CAGR of 2.3 per cent between 2019 and 2024.
Asia-Pacific has the most market potential particularly in China, India and Southeast Asian regions.
North America, especially The United States, will continue to play an important role which cannot be ignored. And it is expected that any changes in legislation in the US will affect the development trend of Direct Marketing Services globally. This is the case in Europe following the introduction of GDPR which has resulted in a depression in spend on direct marketing services. However, it is predicted that the sector will quickly recover as direct marketing becomes increasingly targeted and relevant, resulting in an uplift of positive feeling towards the channel from consumers.
The market factors explained in the report
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilisation rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Direct Marketing Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyse the growth of the key players operating in the market.
Further information regarding the report can be found here: https://www.marketinsightsreports.com/reports/02011075697/global-direct-marketing-services-market-size-status-and-forecast-2019-2025/inquiry?source=scoopjunction&Mode=68