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Political Organizations Global Market Report 2020-30: COVID-19 Growth And Change

·3-min read

Major players in the political organizations market are Democratic Party, Republican Party, Communist Party of China, Bharatiya Janata Party, Indian National Congress, Justice and Development Party, Pakistan Tehreek-e-Insaf, United Socialist Party of Venezuela, Workers’ Party of Korea and United Russia.

New York, Jan. 04, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Political Organizations Global Market Report 2020-30: COVID-19 Growth And Change" -

The global political organizations market is expected to grow from $8.88 billion in 2019 to $8.98 billion in 2020 at a compound annual growth rate (CAGR) of 1.18%. The slow growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, the closure of industries, and other commercial activities resulting in a slowdown of the economy forcing the government and other organizations to reallocate grants to emergency relief funds. The market is then expected to recover and reach $11.15 billion in 2023 at a CAGR of 7.48%.

The political organizations market consists of revenue generated through political services by entities (organizations, sole traders and partnerships) that are engaged in promoting the interests of national, state, or local political parties or candidates. This market includes political groups organized to raise funds for a political party or individual candidates. Only goods and services traded between entities or sold to end consumers are included.

In October 2020, the Mizoram People’s Conference (MPC), a regional political party in Mizoram, merged with People’s Representation for Identity and Status of Mizoram (PRISM) to form the People’s Conference Party. The new party formed after the merger will work towards fulfilling the aspirations of underprivileged people in the region. PRISM was an anti-corruption watchdog before becoming the political party for the 2018 state polls.

The political organizations market covered in this report is segmented by organization into national; regional and by scope and services into campaign organizations; constituency associations; local political organization; political action committees (PACs); political campaign organizations; political organizations and clubs; political parties; riding association.

Social media platforms are increasingly being used by political organizations for campaigning. The utilization of social media is viable in reaching out to young voters. There are various ways by which a political party can conduct social media campaigns such as engaging with the public through live video, asking questions on social media such as Twitter and Facebook, being active on social platforms by posting daily updates of their political work, and many more. For instance, in the ongoing US presidential election campaign, the two candidates are paying millions of dollars to Facebook and Google ads to increase their visibility in the perspective of the users to increase their chances of a win in the November 2020 elections.

The initiatives taken by political organizations to improve the support from businesses in the region drive the market. For instance, the Bhartiya Janata Party government in India has promoted reforms that may boost the economy helping small and medium enterprises to expand their businesses. It launched the Make in India initiative to bring in businesses into the country to boost the economic activity and create jobs. These initiatives will help businesses to expand their revenue streams and in turn, encourage businesses to support the political organizations by funding them.
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