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Advertising Agencies Market 2022 – Opportunities And Strategies – Forecast To 2031
The Business Research Company’s Advertising Agencies Market 2022 – Opportunities And Strategies – Global Forecast To 2031
LONDON, GREATER LONDON , UK, July 19, 2022 /EINPresswire.com/ -- Rising urbanization is expected to contribute to the advertising agencies market growth in the forecast period. Globally, urbanization is increasing at a rapid pace. For instance, according to the World Bank Group, over 50% of the global population lives in urban areas. The world's urban population is expected to increase by 1.5 times by 2045 to 6 billion. In addition, according to the United Nations, by 2050, it is estimated that around 68% of the total world population will live in urban areas. The increase in the urban population leads to an increase in traffic congestion and waiting times. For example, in the USA, Los Angeles, New York, and San Francisco are the most congested cities with congestion levels of 42%, 37%, and 36% respectively. In Europe, Greater Moscow is the most congested city with 59% congestion. According to the advertising agency industry analysis, increasing congestion times provides opportunity for brands to advertise their products through advertising, driving the market.
Read more on the Global Advertising Agencies Market Report https://www.thebusinessresearchcompany.com/report/advertising-agencies-market
The global advertising agencies market size reached a value of nearly $346.12 billion 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 $553.11 billion by 2026. Also, the advertising agencies market share is expected to grow to $890.81 billion in 2031 at a CAGR of 10.0%.
The storytelling concept is increasingly becoming popular, as it boosts customer engagement. Consumers can be overloaded with information so storytelling allows customers to interact directly with the story and builds self-association with the brand. Customers want to make purchases that they feel connected with beyond the product or service itself. The concept also conveys the awareness messages to important causes such as abuse, AIDS and poverty, which are difficult to talk about. Some storytelling advertisements only tell part of the story, which makes the audience wait for the next ad in the storyline. Storytelling improves retention and helps consumers recall events.
Major players covered in the global advertising agencies industry are WPP PLC, Dentsu Inc., Publicis Groupe, Omnicom Group Inc., Hakuhodo DY Holdings. TBRC’s advertising agencies market segmentation is divided by mode into online advertising, offline advertising, by type into TV, digital, radio, print, out-of-home (OOH), others, by end-use industry into banking, financial service & insurance (BFSI), consumer goods and retail, government and public sector, IT And telecom, media and entertainment, others,
Advertising Agencies Market 2022 – By Mode (Online Advertising And Offline Advertising), By Type (TV, Digital, Radio, Print, Out-Of-Home (OOH)), By End Use Industry (Banking, Financial Service & Insurance (BFSI), Consumer Goods And Retail, Government And Public Sector, IT And Telecom, Media And Entertainment), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a advertising agencies market overview, forecast advertising agencies market size and growth for the whole market, advertising agencies market segments, geographies, advertising agencies market trends, advertising agencies market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research. It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology. Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
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