Media Buying Agencies And Representative Firms Market Key Insights 2024-2033: Growth Rate, Trends And Opportunities
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The media buying agencies and representative firms market has witnessed steady growth, increasing from $79.29 billion in 2023 to $82.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period is attributed to strong economic growth in emerging markets, an increasing number of events, growth in the world population, and rising advertising expenditure. Moving into the future, the market is expected to see steady growth, reaching $97.55 billion in 2028 at a CAGR of 4.1%. Anticipated growth drivers in the forecast period include an increase in mobile video viewing, rising internet penetration, government support, and the growing young or millennial population. Major trends involve leveraging artificial intelligence (AI) and machine learning (ML) for marketing strategies, focusing on metaverse applications for virtual realistic interactions, new product launches for competitiveness and consumer preferences, utilizing big data for understanding customer ad preferences, providing digital services for targeted and personalized campaigns, and focusing on streaming services to capture audiences.
The surge in political events, sports spectacles, festivals, and high-budget movies is expected to contribute to the demand for media buying agencies and representative firms. As an example, the 2020 US presidential elections witnessed targeted ads released in 14 Indian languages by the Democratic Party to engage voters of Indian origin. In September 2023, according to the Federal Election Commission, presidential candidates reported substantial financial figures, with total receipts reaching $167.9 million and disbursements amounting to $65.0 million for the 2024 election cycle. Notably, crowd-gathering events like the Coachella Valley Music and Arts Festival, drawing around 750,000 attendees in 2022, continue to propel the market for media buying agencies and representative firms. These dynamics contribute significantly to the market size projections for 2023, 2024, and 2028.
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What Are The Key Trends That Influence Media Buying Agencies And Representative Firms Market Share Analysis?
Media buyers utilizing Artificial Intelligence (AI) for media optimization are gaining traction within media buying agencies and representative firms. AI is revolutionizing advertising operations. According to the 2022 State of Marketing AI Report by Drift and the Marketing Artificial Intelligence Institute, 51% of respondents consider AI essential or highly important for marketing success. In August 2021, BLKBOX.ai launched its Intelligent Media Buying Platform, designed to scale businesses profitably. This SaaS-based platform enhances campaign profitability and scales ad spending threefold while reducing media buying management time from six hours to six minutes. It simplifies digital campaigns for large organizations, corporations, and small and medium-sized businesses (SMBs) by requiring just three inputs: creative assets, budget, and KPIs.
Which Market Players Are Driving Growth In The Media Buying Agencies And Representative Firms Market?
Major companies operating in the market are 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
How Is The Global Media Buying Agencies And Representative Firms Market Segmented?
The media buying agencies and representative firms market covered in this report is segmented –
1) By Services: Media Buying Service, Media Planning Service, Media Representative Firms, Other Services
2) By Mode: Offline, Online
3) By Application: Banking, Financial Services And Insurance (BFSI) Sector, Consumer Goods And Retail, Government And Public Sector, IT (Information Technology) And Telecom, Healthcare , Media And Entertainment
Read The Full Media Buying Agencies And Representative Firms Market Report Here
The Media Buying Agencies And Representative Firms Global Market Report 2024 provides an overview of the media buying agencies and representative firmsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The media buying agencies and representative firms market forecast analyzes media buying agencies and representative firms market size, media buying agencies and representative firms market share, leading competitor and their market positions.
The Table Of Content For The Media Buying Agencies And Representative Firms Market Include
1. Media Buying Agencies And Representative Firms Market Executive Summary
2. Media Buying Agencies And Representative Firms Market Segments
3. Media Buying Agencies And Representative Firms Market Size And Template Market Growth Rate
4. Key Media Buying Agencies And Representative Firms Market Trends
5. Major Media Buying Agencies And Representative Firms Market Drivers
……
25. Key Mergers And Acquisitions In The Media Buying Agencies And Representative Firms Market
26. Top Media Buying Agencies And Representative Firms Companies
27. Media Buying Agencies And Representative Firms Market Opportunities And Strategies
28. Media Buying Agencies And Representative Firms Market, Conclusions And Recommendations
29. Appendix
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