Increasing consumer spending drives growth of the global advertising agencies industry, report

Increasing consumer spending drives growth of the global advertising agencies industry, report

03-02-2023 08:43:40 | Door: Bob Koigi | Hits: 582 | Tags:

Over the past five years, the Global Advertising Agencies industry fared well due to growing corporate profit and the proliferation of digital media, which has expanded operators' access to their target audiences. This is according to a recent report by Research and Markets. 

Increasing consumer spending and growing global economic activity have caused demand from downstream industries to increase during the period.

Over the five years to 2019, global advertising expenditure is projected to rise, driving industry growth. The growing size of major global players will enable greater exposure in emerging markets in the future as well, as their scale enables them to make strategic acquisitions to boost revenue.

Furthermore, established presence and credentials in particular regions will provide a major advantage for operators competing for clients looking to work in specific markets. Opportunities for smaller operators exist in the digital arena, particularly in uncovering innovative ways to use new media and consumer data to reach audiences. Consequently, industry revenue is expected to grow over the five years to 2024.

Companies in this industry create advertising campaigns and distribute them to various media outlets. Services include advice, campaign planning, creative services, advertising material production and media planning and buying. Public relations and other specialized communications are excluded from this industry.

The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


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