Global Advertising Agencies Market Size 2024, Forecast To 2033
11 Mar, 2024
The advertising agencies market size has exhibited robust growth, climbing from $390.77 billion in 2023 to $410.82 billion in 2024, reflecting a steady CAGR of 5.1%. The historic period's expansion can be attributed to strong economic growth in emerging markets, the rise of globalization, increased penetration of e-commerce, rising advertisement expenditure, and rapid technological development. Moving into the future, the market is expected to sustain steady growth, reaching $492.07 billion in 2028 with a CAGR of 4.6%. Factors driving this growth include rising urbanization, increased adoption of 5G networks and the Internet of Things (IoT), fostering the growth of IoT. Key trends in the forecast period include the launch of artificial intelligence in advertising, the rise of storytelling concepts, increased adoption of digitalization, growing demand for interactive advertising, augmented reality for advertising, and an uptick in advertising on streaming services. Strategies adopted by players in the advertising agencies market involve ensuring safe digital engagement through strict compliances on online advertising, strengthening digital marketing business through acquisitions, providing data-driven advertising solutions for clients, and expanding business operations in other regions.
Global Advertising Agencies Market Key Driver
The advertising agency market is poised for increased demand, fueled by a surge in advertising spending across various industries. Significant contributors to this rise include video and mobile ads, with digital advertising surpassing total TV ad spending. As indicated by WordStream, digital ad spend was estimated at $441 billion in 2022, projected to reach $485 billion in 2023 globally, surpassing traditional media spending in the US. Notably, the retail industry allocates the highest percentage of total advertising spend. This uptick in advertising spending is predicted to be a driving force for the advertising agency market. The market size is set to grow from $X billion in 2023 to $Y billion in 2024 and further expand to $Z billion by 2028.
Get A Free Sample Of The Global Advertising Agencies Market ReportGlobal Advertising Agencies Market Segments
The advertising agencies market covered in this report is segmented –
1) By Mode: Online Advertising And Offline Advertising
2) By Type: TV, Digital, Radio, Print, Out-Of-Home (OOH) And 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 And Others
By Geography:The regions covered in the advertising agencies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the advertising agencies market in 2023. Western Europe was the second largest region in the global advertising agencies market share. The regions covered in the advertising agencies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Advertising Agencies Industry Players
WPP PLC, Dentsu Inc., Publicis Groupe, Omnicom Group Inc., Hakuhodo DY Holdings, BlueFocus Communication Group, The Interpublic Group of Companies, Inc., Accenture Interactive, Havas, MDC Partners, 303 MullenLowe, ADA, Red search, Schbang, Medium rare content agency, King content, DDB Group, Wieden + Kennedy (Shanghai) Co. Ltd., Guangdong Advertising Co. Ltd, Lowe Shanghai, VCCP, Mediaplus Group (München Deutschland), Bartle Bogle Hegarty (BBH), The&Partnership, Braaxe, Saatchi & Saatchi, Admind Agency, BrainDonors, Brain Tank Marketing Agency, Zest Creations, Purple PR Ltd., Funktional and Subsign, Ogilvy, The O Group, Digital Silk, studiofilms, Ignite Social Media, The Bureau of Small Projects, OKD Marketing, Cundari, Giants & Gentlemen, Let’s Get Optimized, Social Media 55, Burrell Communications, Arcane Marketing, Forge and Smith, Strano + Pettigrew Design Associates, Jelly Digital Marketing & PR, Art & Science, Sid Lee, John St., BETC Havas, Lowe Lintas, Leo Burnett, Grey Worldwide, FCB Ulka, Rediffusion DYR, Euro RSCG, 9thWonder, Hoopla, Way2net Digital Marketing Agency, TBWA Raad, FP7 McCANN, Tonic International, Mullen Lowe, BPG Group, Mars Media Group, Intango, Executive Digital, Adbot, dKilo, Ads Gate, AdCrew, JCDecaux
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Advertising Agencies Market Overview
Advertising agencies are in charge of initiating, managing, and implementing paid marketing communications. It creates the ads, plans how, when, and where they will be delivered, and then delivers them to the client.
Advertising Agencies Global Market Report 2023 provides data on the global advertising agencies market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The advertising agencies market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.