The growing demand for social media and digital advertising

The growing demand for social media and digital advertising

SEOUL, Sep 26, 2022 (GLOBE NEWSWIRE) – According to the latest study by Fact.MR, a market research and competitive information provider, the global advertising services market size is estimated at $664.6 billion in 2022 and is expected to expand at an impressive CAGR of 7.2% during the projected years 2022-2032.

Advertising service providers help organizations develop an advertising and marketing strategy tailored to their operations, brand and product. The advertising company works with the client’s business objectives, adheres to budget constraints, and creates advertising and marketing campaigns to meet the client’s requirements.

increase Demand for advertising services on social media Increasing on-demand services from digital advertising agencies are the main factors driving market growth. Total employment for advertising and marketing managers is expected to increase by 10% from 2020 to 2030. While employment under traditional methods of advertising is likely to see a decline of about 1% and is expected to lead to significant job losses over the coming years.

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to rise benefit In Mobile advertising drives market growth in the US

The US advertising agency services market is estimated to be developing at a compound annual growth rate of 6.9% over the decade.

In the United States, advertisers have shown a growing interest in mobile advertising due to the growing popularity of mobile devices and the constant shift from desktop computers.

  • The number of smartphone users in the United States was about 274.1 million in 2018, rising to 302 million by 2021.

With the increasing use of smartphones and the high penetration of the Internet in the United States, online shopping has gained a lot of popularity. This factor is attributed to the high demand for advertising services in the US e-commerce industry.

The main takeaway from the market study

  • The global advertising agency services market is expected to expand at a high compound annual growth rate of 7.2% and reach US$1,332 billion by 2032.
  • The market showed a compound annual growth rate of 6.7% between 2017 and 2021.
  • Under the service segment, social media ads dominate the market with a 25% share.
  • North America leads the global market with a market share of 47% in 2021.
  • Revenues from advertising services are expected to increase at a compound annual growth rate of 7.5% and 8.4%, respectively, in Europe and East Asia.

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market development

Despite intense competition, the business environment in the market for services provided by advertising agencies still reflects positivity within the sector. Leading service providers use both organic and inorganic technologies to build a firm foothold in the market, such as the acquisition of Smart Digital GmbH by Omnicom Precision Marketing Group and the partnerships between WPP and InMobi Group.

In addition, market players are more focused on providing digital forms of advertising services to gain a competitive advantage in this field.

Competitive scene

Notable advertising service providers are WPP, Accenture Interactive, Black Propeller, BlueFocus Communication Group, Deloitte Digital, Funnel Boost Media, Hakuhodo, Hotspex Media and Interpublic Group of Cos. and Jeffs Media and Madison Communication Pvt. Ltd., McCann Ericsson India Pvt. Ltd. and Mediaplus Group, Omnicom Group, Publicis Groupe, and SeedX Inc. and The Remnant Agency, VCCP, Zerotrillion, and Dentsu Inc.

The global advertising agency services market is expected to be highly competitive with the adoption of various strategic initiatives such as partnerships and acquisitions by the major players in the market.

for example :

  • In September 2019, WPP and InMobi Group partnered to create unique benefits for marketers along with simplifying complexity for Indian marketers.
  • In April 2022, Imagine and Operative Media joined forces to create a cloud-native platform that simplifies advertising across linear and digital channels.
  • In September 2019, Omnicom Precision Marketing Group acquired a significant stake in Smart Digital GmbH. The acquisition aims to expand the company’s service offering in digital marketing and provide real-time customer interactions to provide greater return on investment for organizations with outstanding marketing services.

Segmentation of advertising services industry research

  • By service method:
    • Digital
      • Social media ads
      • Search in advertising media
      • Programmed publicity
    • traditional
      • Radio ads
      • Print ads
      • the television
      • Abroad
      • Aharon
  • By industry end use:
    • selling by pieces
    • Consumer Goods
    • Financial Services
    • energy and manufacturing
    • technology
    • tourist trip
    • Media and entertainment
    • Health Care
    • the cars
    • Aharon
  • By region:
    • North Amarica
    • Latin america
    • Europe
    • East Asia
    • South Asia and Oceania
    • Middle East Airlines

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More valuable ideas on offer

In its new presentation, Fact.MR provides an unbiased analysis of the global advertising services market, providing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals key insights into the way of service (digital [social media advertising, search media advertising, programmatic media advertising]traditionalists [radio advertising, print advertising, television, outdoor, others]and end-use industry (retail, consumer goods, financial services, energy, manufacturing, technology, travel and tourism, media and entertainment, healthcare, automotive, etc.), across key regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa).

Check out more related studies published by Fact.MR Research:

Influencer Marketing Market: The influencer marketing market is expected to grow $6.0 billion by 2021, at a compound annual growth rate of over 20% during the 2021-2031 evaluation period. The demand for influencer marketing will see steady growth in the short term, with optimistic growth prospects in the long term. The inability to measure the effectiveness of the campaign means limited opportunities in the near future, however, the increase in the number of users of the social media platform will provide impetus, in the influencer marketing approach.

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