Fun facts about logo design market in USA
Logo design is a service segment of a fairly diverse, large and highly competitive graphic design industry. There are advertising agencies, small to mid-sized graphic design companies and individual freelance graphic designers operating within this industry, all of them provide logo design services.
The estimated market size for logo design services in United States alone is 3 Billion dollars (USD). There are more than 10 billion dollars spent (Globally; from English speaking countries) on logo design services that are found in on-line search engines, such as Google, Yahoo! and Bing. The market is divided into three demographic segments; business start-ups, established businesses and non-profit organizations. Average price of a logo design is about $300.
During the economic recession that started in 2008 due to the global financial crises, there was a hike in small business start-ups that grew in numbers from 570,000 to 627,000 per year in the United States (biggest hike in 14 years). This trend was consistent throughout international markets. It is believed to be caused by the loss of trust in large corporations reliability and the inability of finding new jobs. It is expected that during the economic growth of next 3 years, the number of business start-ups will drop again, which will shrink the market size of logo design services by about 4-5%. After that, it is expected to remain constant in Developed countries.