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The Business Research Company’s Media Buying Agencies And Representative Firms Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, July 4, 2022 /EINPresswire.com/ — The market recovered strongly in 2020-2021 (7.6% growth) from the COVID-induced recessive setback in 2019-2020 (-9.4% fall in revenue) and looks set to continue its positive growth trend through to 2031 (CAGR of 8.8% from 2021-2031).
The growing number of political events, sports events, festivals, and high budget movies is expected to continue to drive growth in the media buying agencies and representative firms’ market. Companies in the Buying Agencies market are also changing their operating model and ways of working, with AI playing an increasingly important role in the delivery and effectiveness of advertising operations (84% AI utilisation across the market).
Historically, North America and Asia Pacific have been neck-and-neck on market share, with around 30% each between 2011-2021.
From 2022 onward, Asia Pacific is expected to steadily advance up to 34% market share by 2031, with North America dropping to 27%. Western Europe is the other large regional market, having 26% in 2021 and dropping slightly, to 24% by 2031.
Eastern Europe will see a significant drop in its share of the market in 2022 (down to 2.6%, from 5.2% in 2011), and is expected to stay at this level through to 2031.
The Middle East and Africa market remain relatively stable at 5% and 2.4% respectively, with a slight upturn to 5.9% and 2.8% by 2031.
At the country level, the USA remains the strongest market, with a 27.3% share, followed by China at around 12.8%, Japan at 7.2%, the UK at 5.3% and Germany at 5.2%.
As per data on the Global Market Model, market share by segment, tells another story. An intriguing change has occurred in segment dominance, with Media Buying Services and Representative Firms sharing 69% of the market equally in 2011, but by 2021, Media Buying Services held 38% of the market and Representative Firms dropped to 26%. During the same period, Media Planning Services rose from 21% market share in 2011, to 25% in 2021. This divergence in segment trajectories is expected to continue through to 2031, with Media Buying Services on 43%, Media Planning on 32% and Representatives on 13%. The Other Services segment has had modest rises since 2011 (9.5%) and is currently at 11%, rising to near parity with Representative Firms in 2031 (12.4%).
The major market segments are:
• Media Buying Service – purchasing media to serve ads at the right time and place to key or targeted audiences to meet the campaign’s goals efficiently
• Media Planning Service – determining where, when, and how often they will run an advertisement to maximize engagements and helping an organization to channel its creative energy towards developing content that supports sales, marketing, and brand awareness goals
• Media Representative Firms – companies that sell media time or space on behalf of media owners
• Other Services – companies engaged in providing services other than media buying service, media planning service, and media representative firms
The media buying agencies and representative firms market consists of the sales of advertising services by entities (organizations, sole traders and partnerships) that purchase advertising time or space from media outlets and resell it to advertising agencies or individual companies directly, and independent representatives that sell media time or space for media owners. Only goods and services traded between entities or sold to end consumers are included.
Major players in the media buying agencies and representative firms market are Publicis Groupe, Omnicom Group Inc., Interpublic Group of companies, Dentsu, Katz Media Group and Edelman.
The Media Buying Agencies and Representative Firms Market Report is one of a series of new reports from The Business Research Company that provides media buying services and representative firms market overviews, analyzes and forecasts media buying services and representative firms market size, share, media buying services and representative firms market players, media buying services and representative firms market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.
About The Business Research Company?
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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