Categories: Market Research

Media Buying Agencies And Representative Firms Market Size and Forecast 2024-2033|WPP PLC, Publicis Groupe, Omnicom Group Inc., Dentsu Inc., The Interpublic Group Of Companies

The Media Buying Agencies And Representative Firms by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Media Buying Agencies And Representative Firms, 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 in the historic period can be attributed to strong economic growth in emerging markets, increasing number of events, growth in world population and rising advertisement expenditure.

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 growth in the forecast period can be attributed to increase in mobile video viewing, increasing internet penetration, government support and growing young or millennial population. Major trends in the forecast period include leveraging artificial intelligence (ai) and machine learning (ml) to help marketers to run more experiments and to further develop new strategies, focusing on metaverse applications to interact with customers in virtual realistic settings, focusing on new product launches to stay competitive and meet the evolving needs and preferences of consumers, leveraging big data to help advertisers and companies better understand the customer ad preferences, focusing on digital services for more targeted and personalized campaigns and focusing on streaming services to capture audiences.

An increasing number of political events, sports events, festivals, and high-budget movies is anticipated to contribute to the demand for media buying agencies and representative firms’ market. For instance, for the 2020 US presidential elections, the Democratic Party has released ads in 14 Indian languages to encourage voters of Indian origin. For instance, in September 2023, according to the Federal Election Commission, a US-based agency of the United States government, presidential candidates running for office in 2024 reported total receipts of $167.9 million and disbursements of $65.0 million. Furthermore, in 2022, Coachella Valley Music and Arts Festival, an annual rock festival, draws in crowds of around 125,000 per day. That means that around 750,000 people attended the festival in total over the course of six days. As a result, crowd-gathering events such as political events, sporting events, and festivals are propelling the market for media buying agencies and representative firms.

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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

Media buyers who use Artificial Intelligence (AI) for media optimization are gaining traction in the market for media buying agencies and representative firms. AI is changing the way advertising operations are run. According to Drift and Marketing Artificial Intelligence Institute, 2022 State of Marketing AI Report, the majority of respondents (51%) said AI is crucial or very important to their marketing success. In August 2021, BLKBOX.ai, a Facebook advertising management platform, launched an Intelligent Media Buying Platform, allowing businesses to scale profitably. Their SaaS-based intelligent and automated media buying platform generates profitable campaigns and scales ad spending threefold while cutting the time required to manage end-to-end media buying from six hours to six minutes. The platform enables big organizations, major corporations, and small and medium-sized businesses (SMBs) to expedite their digital campaigns by requiring only three inputs: creative assets, budget, and KPIs.

The media buying agencies and representative firms market report table of contents includes:

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

5. Global Media Buying Agencies And Representative Firms Market Size and Growth

26. South America Media Buying Agencies And Representative Firms Market

27. Brazil Media Buying Agencies And Representative Firms Market

28. Middle East Media Buying Agencies And Representative Firms Market

29. Africa Media Buying Agencies And Representative Firms Market

30. Media Buying Agencies And Representative Firms Market Competitive Landscape And Company Profiles

Top Major Players: