The Visual Economy Report

Canva, the all-in-one visual communication platform, published a very interesting report in April "The Visual Economy Report 2023". It provides a comprehensive view of how global business leaders can apply the principles of visual communication and generate greater economic returns for their businesses. The document is largely based on a survey of 1,600 business leaders in the United States, the United Kingdom and Australia. Here is a summary of the key points of this edifying report and its findings. 

The Global Context

The rise of social networks like Instagram, TikTok and Facebook has changed the way we communicate. We are witnessing a rapid increase in visual content in general and particularly in data visualizations in the enterprise.

Some key figures and facts

The average sustained attention span in front of a screen is only 47 seconds. The more textual the information, the less attention it gets.

In 10 years, Canva has reached 125 million users.

The visual creative and design software industry represents a constantly growing business, currently valued at $110 billion. 

Key Findings

We have entered the era of the visual economy, driven by the content consumption patterns of Generation Z (people born between 1997 and 2010), who represent an increasingly important part of the working world. 

Visual information is becoming the dominant way to communicate and collaborate. As a result, the report shows that companies that invest in visual communication are ahead of their competitors.

The explosion of generative AI comes at an opportune time as there is a rapidly growing demand for visual content to be satisfied, and software using this AI is making this content creation easier for businesses.

Below you can discover an infographic that summarizes the key points of this report. Click on the image to enlarge it.