Japan was the most prominent region in Catalogue Market | CAGR was at 20.05% and Revenue to be USD 335.62 Billion
The increase in the use of catalog marketing strategies in the retail & e-commerce sector is fostering the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, July 27, 2023/EINPresswire.com/ — According to the report, the global catalogue industry was pegged at $58.20 billion in 2020, and is expected to reach $335.62 billion by 2030, growing at a CAGR of 20.05% from 2021 to 2030.
Rise in need to improve consumer experience & satisfaction and increase in penetration of smartphones coupled with robust internet access across the globe drive the growth of the global catalogue market.However, increase in popularity of alternative marketing and advertising strategies hinder market growth. Moreover, surge in use of catalogue marketing strategies in the retail & e-commerce sector is anticipated to pave the way for multiple opportunities in the industry.
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Based on organization size, the large enterprises segment held the lion’s share in 2020, contributing to more than three-fifths of the global catalogue market, and is expected to continue its lead during the forecast period. This is owing to surge in investments in marketing by large enterprises is expected to fuel the growth of the catalogue market. The small and medium-sized enterprises segment, however, is expected to witness the highest CAGR of 21.34% by 2030. This is attributed to the fact that SMEs have low marketing budget and lack resources for high grade marketing; thus, they prefer adopting digital catalogue strategy to resolve complexities and improve cost optimization of business processes.
By region, North America, garnered the major share in 2020, contributing to more than two-fifths of the global catalogue industry and is expected dominate the market during the forecast period. Rise in demand for digital catalogue among various verticals such as media & entertainment, e-commerce, and BFSI is driving the market growth of the catalogue in North America. However, the Asia-Pacific region would manifest the fastest CAGR of 22.25% throughout the estimated period, owing to increase in the number of smartphone users and rise in penetration of the Internet in the region.
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By type, the paper or print segment accounted for more than half of the global catalogue market share in 2020. This is owing to the fact that printed catalogues and brochures serve as the most powerful tools for the sales and marketing team, as they have all the vital information about the products or services. The digital segment, however, would showcase the fastest CAGR of 23.41% by 2030 and is anticipated to dominate the market throughout the forecast period. Digital catalogue increases brand awareness and has more range of clients than traditional catalogues, thus fueling the growth of the segment.
COVID-19 scenario:
• The outbreak of the Covid-19 pandemic had a positive impact on the global catalogue market. Due to a rise in smartphone sales and the work-from-home policy, the adoption of digital catalogues increased significantly during the period.
• Following the pandemic, digital catalogues saw a considerable surge in adoption, as they provide various advantages over print catalogues. Furthermore, as a result of Covid-19, sectors such as retail &e-commerce and media &entertainment, adopted digitalization for seamless operations, resulting in widespread use of digital catalogues for product and service marketing.
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Some of the key catalog industry players profiled in the report include Akeneo, Bonial, DCatalog, Drawtify, Inc., Flipsnack, Flipp Corporation, FlippingBook, Publuu, ShopFully, and Tiendeo. This study includes market trends, Catalogue market analysis, and future estimations to determine the imminent investment pockets.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the catalogue market analysis from 2020 to 2030 to identify the prevailing catalogue market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the catalogue market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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