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The Global online out-source market is used for marketing services
#UPgovt #electronicpark #JewarAirport
Online out-source market used for marketing services
Today, small businesses understand the importance of having a digital presence and the benefits of leveraging the digital space for conducting business. An offshoot of this understanding has been the growth of several B2B online platforms that help connect buyers with freelance service providers. The market potential for the freelance segment is estimated to be a whopping $300 Billion and this has resulted in the emergence of 4 key players who address this segment. SME’s consumer $300 Billion of marketing services from Freelancers globally and $226 Billion from the organized marketing communication firms. SMEs around the world are connecting with advertising and marketing agencies through an online platform. While SMEs on one hand would be able to access a wide range of specialist service providers in a high cost-effective manner, service providers would be able to access and serve the SME advertising and marketing requirements in a safe and secure manner.
There are an estimated 125 million Small and Medium Enterprises around the world, 67 million of whom are present in Asia alone. The US, Europe, Canada & Australia have together around 40 million Small Business enterprises. In developing countries, the level of Internet usage among SME’s is relatively low averaging about 1020% while in developed countries, the usage for B2B is as high as 90%. Looking at the world’s A&M market, there are an estimated 1 million plus agencies addressing and serving the A&M needs of all enterprises. 90% of these are agencies themselves in the SME space and thereby constrained with the same set of needs and concerns as the buyers in the SME space via market access & vendor access etc.
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