Global Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Global Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global advertising market size reached US$ 615.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 834.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.35% during 2023-2028.

Advertising refers to a means of communication through which various brands inform about their product or service as well as influence the consumer buying behavior. It further aids consumers in learning about upcoming events and discovering new products or services. With time, the advertisers have realized the potential of mobile devices as a medium of reaching an individual or mass audience virtually from anywhere and at any time. As a result, the advertising industry has evolved from traditional media platforms to online and digital advertising.

There is a continual increase in the expenditure on media and entertainment across the globe. This essentially indicates to the steadily rising consumer expenditure capacity for acquiring internet access, subscribing to newspapers and magazines, and television and radio, along with video gaming and regular visits to movie theaters. Advertising brands and companies, on the other hand, have never failed to attract consumers’ attention and have continuously increased their investments on advertising as it is essential for a company’s survival. Apart from this, mobile advertising has witnessed exponential growth over the past few years as it has emerged as a cost-effective, convenient, and highly targeted way of communication for specific groups of mobile users. Moreover, several leading advertising agencies are nowadays significantly investing in digital advertising, which is creating a positive outlook for the market.

Breakup by Type:

Television
Print (Newspaper and Magazine)
Radio
Outdoor
Internet (Search, Display, Classified, Video)
Mobile
Cinema

Television advertising currently dominates the market, holding the majority of the overall market share. This can be attributed to the prevalence of televisions, which has made them one of the preferred modes of advertisement.

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

At present, North America holds the largest market share.

Competitive Landscape:
The competitive landscape of the market has also been characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

WPP Group PLC
Omnicom Group Inc.
Publicis Groupe
The Interpublic Group of Companies, Inc.
Dentsu Inc.

Key Questions Answered in This Report

1. What was the size of the global advertising market in 2022?
2. What is the expected growth rate of the global advertising market during 2023-2028?
3. What has been the impact of COVID-19 on the global advertising market?
4. What are the key factors driving the global advertising market?
5. What is the breakup of the global advertising market based on the type?
6. What are the key regions in the global advertising market?
7. Who are the key players/companies in the global advertising market?