Catalogue Market is driven by digital transformation, personalized consumer experiences, and the dynamic landscape of e-commerce, fueling global growth.
PORTLAND, OREGON, UNITED STATES, November 15, 2023 /EINPresswire.com/ — The catalogue market was valued at $58.20 billion in 2020, and is estimated to reach $335.62 billion by 2030, growing at a CAGR of 20.05% from 2021 to 2030.
A catalogue is a type of marketing collateral that lists essential product details, which help buyers to make a purchase decision. These details include product features, descriptions, dimensions, price, weight, availability, color, and customer reviews. Catalogue is used as an effective way to motivate buyers and to show them what a company is offering. In addition, catalogues are useful to several business users and groups such as sales representatives, inside sales, buyers, store clerks, field marketers, and managers.
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The growth of the global catalogue market is impacted by factors such as rise in penetration of smartphones coupled with strong internet access across the globe and surge in need to enhance customer experience & satisfaction. In addition, increase in use of catalogue marketing strategies in the retail & e-commerce sector impacts growth of the market. Moreover, rise in popularity of alternative marketing and advertising strategies affects the market growth. In addition, surge in demand for digital catalogue marketing & advertising strategies in small & medium enterprises (SMEs) is influences the market growth. However, each of these factors is anticipated to have a definite impact on the catalogue market growth during the forecast period.
On the basis of type, the paper or print segment dominated the Catalogue market in 2020. 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. In addition, printed catalogue makes the visibility part of products easier and have lasting effect of it on customer mind. However, the digital segment is expected to witness highest growth rate during the forecast period.
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Digital catalogue increases brand awareness and has more range of clients than traditional catalogues. Furthermore, the retail and e-commerce sector accepted digital transformation and digital technologies for more exposure and client satisfaction. Thus, these factors collectively are driving the adoption of digital catalogues globally. Moreover, increase in trend of online shopping and rise in number of global smartphone users foster the catalogue market growth.
The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The outbreak of COVID-19 has caused a great deal of difficulties across the world. During the COVID-19 pandemic, Catalogue are playing a vital role in protection of data as the volume of data has increased significantly due to WFH policies and adoption of many new technologies such as machine learning and IoT across the globe.
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Although the COVID-19 does not have major negative impact on the growth of the market, the outbreak of COVID-19 will surely provide numerous opportunities for the market to grow in the forecasted period. These opportunities include a surge in demand for Catalogue in enterprises due to remote work initiatives, increase in data protection applications, and introduction of innovative Catalogue solutions in global catalog industry.
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.
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