Advertising Services to Witness US$ 1,332 Billion Market Opportunity by 2032 as Proliferation of E-Commerce Platforms Grows

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Oct 21, 2022, 08:08 ET

Nearly 1/5^th of Advertising Services Sales to be Contributed by Consumer Goods Industry by 2032

The advertising services market research report published by Fact.MR delves into key observations concerning prominent expansion parameters prevailing across key segments for the upcoming decade. It provides details about growth drivers, trends, and opportunities across leading segments, including mode of service, end-use industry, and region.

NEW YORK, Oct. 21, 2022 /PRNewswire/ -- The global advertising services market is projected to reach US$ 665 Billion in 2022. Growth in the market is poised to expand at a CAGR of 7.2% during the forecast period (2022-2032). Rising demand for social media advertising services for businesses such as retail, consumer goods, and others is propelling the growth.

Advertising services platforms enables app developers to generate revenue without charging consumers for the usage of their apps. On the basis of the information gathered by the applications and cache files, in-app adverts aid in reaching a focused audience while also being cost-effective.

Furthermore, numerous firms interact with their target audience via various marketing platforms and encourage consumers to publish reviews and leave comments on their goods and services. Brands may more effectively contact their target demographic in this way. These elements are boosting in-app advertising's adoption that will lead to drive the growth.

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As per the study, China is considered to be one of the nations that spends the most money on advertising globally. As proliferation of e-commerce and digital payment grows, key companies are investing significant amount on in-app internet advertising.

According to the American Psychological Association, advertisers are likely to pay over US$ 12 Billion every year to woo the millennials as they are likely to watch 40,000 commercials annually. With numerous industries such as consumer goods, retail, IT, manufacturing going digital, the need for advertising services is expected to burgeon at a robust pace, exceeding US$ 1,332 Billion by 2032.

Key Takeaways:

The U.S. advertising agency services is anticipated to grow at a CAGR of 6.9% between 2022 and 2032.
Sales in China advertising services agencies market are slated to grow at 8.5% CAGR during the assessment period.
In terms of end-use industry, the consumer goods segment is anticipated to be valued US$ 689.23 billion by 2032, accounting for 18% of the market in 2022.
In 2022, the social media advertisement segment will account for 25% of the market shares.
Demand in East Asia advertising services market is likely to surge at an impressive 8.4% CAGR during the projection period.

Growth Drivers:

Rising popularity of social media advertising in consumer goods sector will drive the growth.
Expansion of in-app advertising, especially in travel and tourism industry, is propelling growth in the advertising services market.
Growing need for social media engagement in the IT and healthcare sectors will boost the market.

Restraints:

Strict laws on advertising pertaining to the data theft might limit the sales in the market.
Operational integrity due to increasing brand value is likely to impede the growth in advertising services market.

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Competitive Landscape:

The advertising services market is expected to be highly competitive, as per Fact.MR. Some of the leading firms are boosting their market presence by forming an alliance with end users. Meanwhile, some of the players are collaborating with international players to strengthen their global footprints.

For instance,

In March 2022, Zerotrillion announces its formal entry into the United States with the appointment of Chantelle Brinkley in New York. Although the Agency now has clients in Texas, California, and Florida, the business has been managed internationally from Zerotrillion's headquarters in Toronto and Amsterdam.
In May 2021, Dentsu Ventures Global Fund II was founded with a total capital of 10 billion yen.

Key Companies Profiled by Fact.MR

WPP
Accenture Interactive
Black Propeller
BlueFocus Communication Group
Deloitte Digital
Funnel Boost Media
Hakuhodo
Hotspex Media
Interpublic Group of Cos.
Jives Media
Madison Communication Pvt. Ltd.
McCann Erickson India Pvt. Ltd.
Mediaplus Group
Omnicom Group
Publicis Groupe
SeedX Inc.
The Remnant Agency
VCCP
Zerotrillion
Dentsu Inc.

More Valuable Insights on Advertising Services Market

By Mode of Service:

Digital

Social Media Advertising
Search Media Advertising
Programmatic Media Advertising

Traditional

Radio Advertising
Print Advertising
Television
Outdoor
Others

By End-use Industry:

Retail
Consumer Goods
Financial Services
Energy & Manufacturing
Technology
Travel & Tourism
Media & Entertainment
Healthcare
Automotive
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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Key Questions Covered in the Advertising Services Market Report

What is the projected value of the advertising services market in 2022?
At what rate will the global advertising services market grow until 2032?
Which are the factors hampering the growth in the advertising services market?
Which region is expected to lead in the global advertising services market during 2022-2032?
Which are the factors driving the advertising services market during the forecast period?

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