LONDON, Nov. 7, 2016 /PRNewswire/ --
The advertising, public relations, and related services market comprise establishments offering services for planning, developing, creating and managing advertisement and promotional activities.
The Americas was the largest geographic market in the advertising, public relations and related services market in 2015, accounting for around $160 billion or 35% of the global market. This was mainly due to the presence of a large number of private and government establishments seeking advertising services. Europe was the second largest geographic market, accounting for $155 billion or 30.0% of the global market. Asia was the third largest geographic market, accounting for $135 billion or 28.0% of the global market. The Middle East & Africa accounted for 5.0% and $20 billion, while Oceania accounted for 1.0% of the global advertising, public relations and related services market.
Global per capita advertising, public relations and related services expenditure grew from $55 in 2011 to $65 in 2015 at a CAGR of 35% and is expected to grow to $75 in 2019 at a CAGR of 4%.
Companies in the advertising, public relations, and related services market are using events and occasions to increase consumer reach and brand awareness. This includes events such as presidential elections, festivals, sports events such as Olympics and FIFA, or even releases of high budget movies. Use of advertisements, discounts and sales, in such relevant events is expected to add more than $6 billion to the global advertising market in 2016 adding about 1.1% to the year's growth rate for global advertising expenditure. For instance, in 2014, Walmart introduced limited edition toys during the holiday season before the release of the year's most awaited movie "Star Wars: The Force Awakens." The company also tried to drive sales keeping its stores open 24 hours to host special midnight events
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