DUBLIN--(BUSINESS WIRE)--The "Advertising Agencies Global Market Opportunities And Strategies To 2031: COVID-19 Impact And Recovery" report has been added to ResearchAndMarkets.com's offering.
The global advertising agencies market reached a value of nearly $346,122.5 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.6% since 2016, and is expected to grow at a CAGR of 9.8% to nearly $553,106.5 million by 2026. Also, the market is expected to grow to $890,809.0 million in 2031 at a CAGR of 10.0%.
Growth in the historic period resulted from strong economic growth in emerging markets, rise of globalization, rising penetration of e-commerce, rising advertisement expenditure and rapid development in technology. Factors that negatively affected growth in the historic period were coronavirus pandemic, skilled workforce shortages, increased use of ad-blockers, volatile costs, security challenges and government regulations.
Going forward, rising urbanization, increasing adoption of 5G networks and internet of things (IoT) and increasing adoption of Internet of Things (IoT) will drive the growth. Factors that could hinder the growth of the advertising agencies market in the future include high costs and intense competition.
The advertising agencies market is segmented by mode into online advertising and offline advertising. The online advertising market was the largest segment of the advertising agencies market segmented by mode, accounting for 55.9% of the total in 2021. Going forward, the online advertising segment is expected to be the fastest growing segment in the advertising agencies market, at a CAGR of 12.7% during 2021-2026.
The advertising agencies market is segmented by end use industry into banking, financial service & insurance (BFSI), consumer goods and retail, government and public sector, IT and telecom, media and entertainment and others. The other end use industry market was the largest segment of the advertising agencies market segmented by end use industry, accounting for 35.6% of the total in 2021. Going forward, the media and entertainment segment is expected to be the fastest growing segment in the advertising agencies market, at a CAGR of 12.3% during 2021-2026.
Asia Pacific was the largest region in the global advertising agencies market, accounting for 37.8% of the total in 2021. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the advertising agencies market will be the Africa and South America, where growth will be at CAGRs of 14.1% and 13.0% respectively during 2021-2026. These will be followed by Middle East and Asia Pacific, where the markets are expected to grow at CAGRs of 12.2% and 11.1% respectively.
The top opportunities in the advertising agencies market segmented by mode will arise in the online advertising segment, which will gain $ 158,416.6 million of global annual sales by 2026.The top opportunities in the advertising agencies markets segmented by type will arise in the digital segment, which will gain $ 154,572.4 million of global annual sales by 2026.
The top opportunities in the advertising agencies market segmented by end use industry will arise in the other end users industry segment, which will gain $ 69,417.4 million of global annual sales by 2026. The advertising agencies market size will gain the most in the China at $ 41,933.8 million.
- Launch Of Artificial Intelligence In Advertising
- Rising Storytelling Concept
- Increased Adoption Of Digitalization
- Growing Demand For Interactive Advertising
- Augmented Reality For Advertising
- Increase In Advertising On Streaming Services
- 1) By Mode: Online Advertising; Offline Advertising
- 2) By Type: TV, Digital; Radio, Print; Out-Of-Home (OOH); Others
- 3) By End Use Industry: Banking; Financial Service & Insurance (BFSI); Consumer Goods And Retail; Government And Public Sector; IT And Telecom; Media And Entertainment; Others
Key Topics Covered:
1. Advertising Agencies Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
7. Advertising Agencies Market Characteristics
8. Advertising Agencies Trends And Strategies
9. Impact of COVID-19 On Advertising Agencies
10. Global Advertising Agencies Market Size And Growth
11. Global Advertising Agencies Market Segmentation
12. Advertising Agencies Market, Regional And Country Analysis
13. Asia-Pacific Advertising Agencies Market
14. Western Europe Advertising Agencies Market
15. Eastern Europe Advertising Agencies Market
16. North America Advertising Agencies Market
17. South America Advertising Agencies Market
18. Middle East Advertising Agencies Market
19. Africa Advertising Agencies Market
20. Advertising Agencies Global Market Competitive Landscape
21. Key Mergers And Acquisitions
22. Advertising Agencies Market Opportunities And Strategies
23. Advertising Agencies Market, Conclusions And Recommendations
- WPP PLC
- Dentsu Inc.
- Publicis Groupe
- Omnicom Group Inc.
- Hakuhodo DY Holdings
For more information about this report visit https://www.researchandmarkets.com/r/llstdf