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New Study Profiles $15 Billion U.S. Graphic Design Business from 2004 - 2009

Tuesday, December 14, 2004

Press release from the issuing company

Harrisville, RI -- December 14, 2004 – Strategies for Management, Inc. (SFM) has just published “The U.S. Graphic Design Business 2004-2009”. Providing an accurate snapshot of the U.S. graphic design industry, the report, now downloadable from SFM’s e-store, highlights and analyzes the industry's major economic trends and demographics, including revenue and capital purchasing levels for both design businesses and freelancers. The study also provides forecasts and predictions about the industry's likely changes and growth through 2009. Report buyers have exclusive password access to a private website that will be updated through mid-2005 for the latest news and information resources about the graphic design business. The report is available for $2875 and is downloadable Adobe Acrobat PDF and Microsoft Excel file at http://store.yahoo.com/drjoe/graphicdesign.html. The Excel file includes all of the tables and graphs of the report. SFM president Dr. Joseph Webb said this report presents a clear economic overview of the graphic design industry. “In the past, much of the economic and demographic information related to the size and scope of the graphic-design industry was inaccurate, conflicting, and didn't show true trends that adjust for inflation. Because of this the important role of this industry has often been overlooked or underestimated by vendors and suppliers of design-related products and services.” Some of the report's findings, based on historical and forecasted data include (all figures in 2004 US dollars): -- Total industry revenues for both graphic-design businesses and freelancers in 2004 is estimated at over $11 billion, which is expected to top $13 billion by 2009 --Individual design establishments are expected to generate average revenues of $491,000 in 2004, and over $550,000 in 2009 --Industry-wide equipment purchasing by design firms and freelancers is expected to grow from $211 million in 2004 to $250 million in 2009 --Graphic design firms currently employ about 60,000 people, a level that is expected to reach nearly 68,000 employees by 2009 -- Nearly 75% of design businesses employ 1 to 4 people, and almost 90% have less than 10 employees -- The 50 largest firms comprise less than 1% of the number of establishments, but account for over 16% ($1.3 billion) of the industry's total billings -- 15% of the industry's graphic design firms are newly created each year -- Freelancer gross revenues is expected to increase from over $3.4 billion in 2004 to over $3.8 billion in 2009 -- The industry currently has over 74,000 graphic-design freelancers, and this is expected to grow to well over 86,000 by the end of the decade The report includes embedded hotlinks to design-business information sources, including government reports, association studies, industry publications, and other resources. The report's bibliography also has hotlinks to the original information resources used in this SFM study. Those purchasing the report have access to a password-accessible website that will be continually updated through mid-2005. This unique feature provides users with the latest developments occurring in this important industry segment. Companies selling products to or working with graphic-design businesses will find the report to be an invaluable tool, said Vince Naselli, consultant for the study. "The data and commentary in this study will assist executives greatly to identify emerging trends and opportunities within this market," Naselli explained. "Executives will be able to use this report for strategic projects that require design-market sizing and segmentation, product development, opportunity assessment, channel and distribution strategy, promotion strategies, and all aspects of planning and forecasting.” Dr. Webb said one of the interesting findings in the study is the tremendous growth of the freelance segment of the graphic design industry. For example, in 1997 there were less than 48,000 graphic-design freelancers. Today it is estimated there are nearly 75,000 independent designers, which is expected to reach over 86,000 freelancers by 2009. By comparison, design businesses are expected to employ 68,000 people by the end of the decade, only 8,000 more employees than those working today. “The single-person virtual design firm is now in the process of becoming a major part of the graphic-design marketplace,” remarked Dr. Webb. The study also clearly identifies the fallout in the graphic design industry that began in 2001, but which had its major impact in 2002. This was primarily caused by reduced demand for both Web- and print-based design work, as well as the general economic slowdown in the U.S. that began in mid-2000 and continued through 2002. Both factors were a major disruption in the design industry. Estimated economic data from the last two years (2003-2004) shows the dust has now settled in the graphic-design market, and projections indicate the industry will progressively grow through the rest of the decade. From 2005 to 2009 SFM expects steady, but modest growth in nearly all economic categories. Indicators show that by 2009 the industry will reach the same level of economic prosperity it achieved at the start of the industry's dot-com boom, when the explosive demand for Web-design services caused the number of design firms and employees, as well as revenue and equipment-purchasing levels, to reach all-time highs. Priced at $2,875, “The U.S. Graphic Design Business 2004-2009” can be ordered and downloaded at http://store.yahoo.com/drjoe/graphicdesign.html For more information, interested parties can e-mail Strategies for Management at designstudy@sfminc.com, or call Mr. Vince Naselli at 1-732-568-0316.




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