Global Public Relations Services Market to Grow at a CAGR of 8% through 2020, Reports Technavio

LONDON--()--The global public relations (PR) services market is expected to grow at a steady CAGR of around 8% during the forecast period, according to Technavio’s latest report.

The research study covers the present scenario and growth prospects of the global PR services market for 2016-2020. The top key suppliers listed in the report include Edelman, Weber Shandwick, FleishmanHillard, Ketchum, and Burson-Marsteller.

According to Angad Singh, a category specialist at Technavio, “The key role of a PR service provider is to deliver the right message to the right people at the right time and place. A PR service is a management function that manages public attitudes; simplifies and interprets policies, procedures, and interests; and performs actions required to enhance public awareness about an organization. It provides support with regard to corporate communications, event management, internal/external affairs, and crisis management.

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Category spend intelligence market research analysts highlight the following four factors that are contributing to the growth of the global PR services market:

  • Digitization of PR services
  • Increase in use of consumer engagement formats
  • Demand for specialized services
  • Growing focus on positive brand image

Additional Technavio Insights: How the PR Industry Will Change in the Next Five Years

Digitization of PR services

The category has been witnessing substantial growth over the past decade, which can be attributed to advancements in digital and social media technologies. An increase in the number of internet users, social media members, and advances in digital communication tools are factors that are prompting several companies to utilize digital channels for various PR activities.

The use of creative engagement tools for social media community management is likely to continue to be the strongest growth driver during the forecast period. A majority of firms across industries are engaging with PR agencies and seeking the best possible solutions for their brands across earned, paid, owned, and shared media.

Increased use of consumer engagement formats

With buyers looking for opportunities to increase consumer engagement, suppliers are providing innovative engagement models such as story-telling, executive branding, influencer marketing, and content amplification. Creative use of appropriate content in the proper engagement channels is driving the growth of the PR services market.

The emergence of advanced technologies such as mobile engagement units has opened up avenues to interact with consumers and influence their opinions about various brands, products, and services.

Demand for specialized services

A majority of agencies are hiring specialists such as speechwriters, as well as specialists in investor relations, labor relations, public affairs, media relations management, corporate reputation management, consumer products marketing, and crisis management to cater to the demand for specialized services by clients.

In response to clients expanding their businesses into new markets, global PR firms are acquiring local agencies, as they can benefit from their expertise in local political, cultural, and mass communication aspects. Such offerings make PR services indispensable for larger firms, thus contributing to the growth of the market.

Growing focus on positive brand image

The effect of branding on sales and revenues of organizations is driving the need for PR services. These services aim to make clients, their brands, and service offerings appear exceptional. Buyers prefer service providers that can offer one-stop solutions for their communication and branding needs, which can range from corporate communications to viral marketing campaigns. Knowledge about the industry, markets, geographies, and demographics involved, allows suppliers to understand the target audience and direct branding efforts accordingly.

Corporates are increasing their PR spend for increased brand visibility, online reputation management, viral PR campaigning, and prevention of negative brand advocacy. This is achieved through innovative and proprietary tools such as client engagement models and social analytics.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Release Summary

The global public relations (PR) services market is expected to grow at a steady CAGR of around 8% during the forecast period, according to Technavio’s latest report.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770