Information Services Global Market Report 2022
Major companies in the information services market include RELX plc, News Corporation, FUJI MEDIA HOLDINGS INC, The New York Public Library, Thomson Reuters, The New York Times Company, Tribune Media Company, Queens Public Library, King County Library System and Cuyahoga County Public Library.
New York, March 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Information Services Global Market Report 2022" - https://www.reportlinker.com/p06243811/?utm_source=GNWThe global information services market is expected to grow from $136.23 billion in 2021 to $148.28 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $200.33 billion in 2026 at a CAGR of 7.8%.
The information services market consists of the sales of information services by entities (organizations, sole traders, or partnerships) that provide news reports, articles, pictures, public historical documents, photographs, maps, audio material, audiovisual material, and other archival material of historical interest. These entities include news syndicates, libraries, and archives.
The main types of information services are news syndicates, libraries and archives, and all other information services.Libraries refer to a room or set of rooms where books and other literary materials are being kept.
Archives is to store old records or documents for accessing them again in the future. The different modes of deployment include online, offline and are used by various sectors such as B2B, B2C.
Asia Pacific was the largest region in the information services market in 2021.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising use of social media for people to connect and communicate with each other is expected to drive the demand for information services during the forecast period.Individuals are using social platforms to share information and to be in touch with their families and friends.
More time is being spent on social networking sites is boosting the growth of the internet publishing and broadcasting industry. As of 2019, there were around 3.48 billion people using social media, indicating widespread usage of social media. Rising social media usage is expected to drive the growth of the information services market through rising in demand for news syndicates and online libraries and archives.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the information services markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’.
The outbreak had a negative impact on businesses throughout 2020 and into 2021.However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels.
It is expected that the information services market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Many universities, colleges, and independent libraries are facilitating access to books, audio and video content through digital platforms.They are offering platforms and technologies that can offer access to content through various devices Applications are being developed for desktops, mobile phones, and tablets irrespective of the size of the device screen.
Responsive design and device compatibility are being incorporated to enhance user experience, accessing content through digital platforms. For example, Grand Valley State University Libraries, University of Toronto’s Library Catalogue, Princeton University Library, and University of Arizona’s Special Collections incorporated responsive design to enhance user experience.
The countries covered in the information services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.Read the full report: https://www.reportlinker.com/p06243811/?utm_source=GNW
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