Press release
Advertising Agencies Market Analysis, Trends, Growth, Research And Forecast 2032
Advertising Agencies Market
The Business Research Company's Advertising Agencies Global Market Report 2023 identifies increase in advertisement spending across industries as the major driver for the advertising agencies market's growth in the forecast period. Video and mobile ads are major contributors to the increase in ad investment. Digital advertising has recently surpassed total TV ad spending.
The global advertising agencies market size will grow from $372.55 billion in 2022 to $391.6 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global advertising agencies market size is expected to grow to $463.83 billion in 2027 at a CAGR of 4.3%.
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Major competitors in the advertising agencies market are Caveni Digital Solutions, Socialiency Advertising, Tegra, BrandBurp Digital, Plan Z, Titan SEO Group, Breakneck Creative, Thevisiontech.
A key trend in the advertising agencies market includes technological advancement. Major players are adopting advanced technologies to strengthen their positions.For instance, in smaller regions or markets, the cost of hiring an advertising agency could vary anywhere from $95 to $225 per hour, depending on the service and the skill of the person supplying that service. The average cost for digital marketing services ranges from $2,500 to $12,000 per month for small-to-midsized businesses (SMBs). Thus, the high costs associated with hiring an advertising agency are likely to hinder the growth of the market over the forecast period.
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The advertising agencies market is segmented -
• By Mode: Online Advertising, Offline Advertising
• By Type: TV, Digital, Radio, Print, Out-of-home (OOH), Other Types
• By End-User Industry: Banking, Financial Services, and Insurance Sector (BFSI), Consumer Goods and Retail, Government and Public Sector, IT & Telecom, Healthcare, Media & Entertainment
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the advertising agencies market.
The Business Research Company's "Global Advertising Agencies Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Advertising Agencies Market Include:
1. Executive Summary
2. Advertising Agencies Market Characteristics
3. Advertising Agencies Market Trends And Strategies
4. Advertising Agencies Market - Macro Economic Scenario
5. Advertising Agencies Market Size And Growth
……
26. Africa Advertising Agencies Market
27. Advertising Agencies Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Advertising Agencies Market
29. Advertising Agencies Market Future Outlook and Potential Analysis
30. Appendix
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