Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Media Buying Agencies and Representative Firms Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The media buying agencies and representative firms market size has grown steadily in recent years. It will grow from $79.29 billion in 2023 to $82.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth observed in the historic period can be attributed to factors such as strong economic growth in emerging markets, an increasing number of events, growth in the world population, and rising expenditure on advertisements.
The media buying agencies and representative firms market size is expected to see steady growth in the next few years. It will grow to $97.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
The anticipated growth in the forecast period can be attributed to factors such as the increase in mobile video viewing, rising internet penetration, government support, and the growing young or millennial population. Major trends expected in the forecast period include leveraging artificial intelligence (AI) and machine learning (ML) to enable marketers to conduct more experiments and develop new strategies, focusing on metaverse applications for interacting with customers in virtual realistic settings, launching new products to remain competitive and meet evolving consumer needs, utilizing big data to enhance understanding of customer ad preferences, emphasizing digital services for more targeted and personalized campaigns, and focusing on streaming services to capture audiences.
The demand for media buying agencies and representative firms is expected to rise due to an increasing number of political events, sports events, festivals, and high-budget movies. Notably, during the 2020 US presidential elections, the Democratic Party released ads in 14 Indian languages to engage voters of Indian origin. In September 2023, presidential candidates reported significant receipts and disbursements, emphasizing the financial scale of political campaigns. Major crowd-gathering events, including political rallies, sports events, and festivals such as Coachella, are significant contributors to the growing market for media buying agencies and representative firms.
The growth of the media buying agencies and representative firms' market is further propelled by the escalating use of the internet and social media platforms. Social media platforms serve as communication channels facilitating conversations, information exchange, and content creation. Businesses leverage social media for cost-effective marketing and advertising, engaging with a global audience. Recent data from Meltwater indicates an increase in internet users in the UK, with substantial LinkedIn and Instagram user bases. The pervasive use of the internet and social media platforms is a key driver fostering the expansion of the media buying agencies and representative firms' market.
Artificial Intelligence (AI) adoption for media optimization is gaining prominence among media buyers, reshaping advertising operations. The 2022 State of Marketing AI Report highlights the significance of AI in marketing success. In August 2021, BLKBOX.AI launched an Intelligent Media Buying Platform powered by AI, allowing businesses to scale profitably by automating media buying processes. This AI-driven platform streamlines campaign management, significantly reducing the time required while enhancing efficiency and profitability.
Major companies in the media buying agencies and representative firms' market are focusing on innovative solutions to gain a competitive edge. AVOW Intelligence, introduced by AVOW, is one such solution providing cost-effectiveness, performance monitoring, and optimization. This proprietary technology processes vast amounts of data from various mobile OEMs, bridging the gap between media buyers and data. AVOW's initiative to launch AVOW Intelligence in India aims to transform mobile OEM advertising, offering clients a competitive advantage in user acquisition initiatives on different app stores.
Key Topics Covered:
1. Executive Summary
2. Media Buying Agencies and Representative Firms Market Characteristics
3. Media Buying Agencies and Representative Firms Market Trends and Strategies
4. Media Buying Agencies and Representative Firms Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Media Buying Agencies and Representative Firms Market Size and Growth
5.1. Global Media Buying Agencies and Representative Firms Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Media Buying Agencies and Representative Firms Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Media Buying Agencies and Representative Firms Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Media Buying Agencies and Representative Firms Market Segmentation
6.1. Global Media Buying Agencies and Representative Firms Market, Segmentation by Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Media Buying Service
- Media Planning Service
- Media Representative Firms
- Other Services
6.2. Global Media Buying Agencies and Representative Firms Market, Segmentation by Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Offline
- Online
6.3. Global Media Buying Agencies and Representative Firms Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- BFSI
- Consumer Goods and Retail
- Government and Public Sector
- IT and Telecom
- Healthcare
- Media and Entertainment
7. Media Buying Agencies and Representative Firms Market Regional and Country Analysis
7.1. Global Media Buying Agencies and Representative Firms Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Media Buying Agencies and Representative Firms Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes
- WPP PLC
- Publicis Groupe
- Omnicom Group Inc
- Dentsu Inc
- The Interpublic Group Of Companies
- Havas SA
- Katz Media Group
- Hakuhodo DY Media Partners Inc.
- Horizon Media
- Kingstar Media
- Initiative Media Private Limited
- Brand Catalyser
- AJ Marketing
- GrowthElements Private Limited
- Adworth Media Pvt Ltd
- Alchemy One
- MK Media
- GDR Media Group
- KKBC
- KOL Media
- Sootoo Network
- DLG SA (Digital Luxury Group)
- Eastidea Integrated Solutions
- RuiYing Media
- Premium.Digital
- Havas Media Shanghai
- Totem Media
- The One Stop Marketing Ltd.
- Sage+Archer
- Media Reach Advertising
- Media Alive
- Hotspex Media
- Digital Star
- ERKA Agile Communication
- Media Pozitiv
- MoloSo Agency
- Evolution Media
- Moburst
- Media Matters Worldwide
- Acquire Media Corporation
- LoyaltyPlant
- Zwick Roell Group
- Belenus of Brazil S / A
- METALAC
- Fastener SRL
- Oasn Me Ltd.
- Amazonas Industria E Comercio Ltd
- Sika
- H.B. Fuller
- Henkel
- Alsayegh Media
- Le Astrid International LLC
- Twofour group
- PAZ marketing
- Shells advertising
- Saba consultants
- KENZ advertising
- Amber communications
- Socialize
- Prodesign Advertising
- Keyade
- Amorphous new media
- Terragon group
- NXT Digital
- Adclick Africa
- Sprout performance partners
- Gloo design agency
- Brand republic SA
- Sauce advertising
- WetPaint advertising
- NP Digital south Africa
- Fogg agency
- Fuse factory
For more information about this report visit https://www.researchandmarkets.com/r/w46ocq
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