Global Television Advertising Market to Reach US$ 322.0 Billion by 2032, Propelled by Increasing Business Need to Enhance Brand Awareness

May 15, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Television Advertising Market Report by Service Type (Terrestrial, Multichannel, Online), Industry (Automotives, Hotels and Restaurants, Insurance and Finance, Communication Telecom, Food and Beverages, and Others), and Region 2024-2032,” the global television advertising market size reached US$ 235.9 Billion in 2023. Television advertising is a form of marketing communication that uses broadcast, cable, and satellite television channels to promote products or services through commercials. It is a popular and effective form of advertising that typically involves creating short video commercials that are broadcasted on television networks during commercial breaks or other designated advertising slots. These commercials contain music, impressive visuals, and special effects and require numerous skilled professionals, such as writers, directors, and actors. Television advertising can be used to build brand awareness, promote products, and generate sales and can be targeted to specific audiences based on demographics such as age, gender, and location. It is widely employed by various brands and businesses to reach out to a maximum number of individuals and retain potential clients.

Global Television Advertising Market Trends:

The increasing use of television advertising by various brands and businesses to enhance their popularity and improve overall sales represents one of the primary factors driving the market growth. In addition to this, the growing use of programmatic advertising to publish ads on numerous platforms and expand their customer reach is contributing to the market growth. Moreover, the surging use of televisions in households to watch live matches, award shows, and movies, combined with the rising popularity of smart televisions, is creating a positive outlook for the market. Concurrent with this, the expanding installation of televisions in commercial buildings, malls, showrooms, and retail outlets to entertain customers with music videos, movies, and other media content is presenting remunerative growth opportunities for the market. Furthermore, the increasing employment of television advertising by small and medium-sized enterprises (SMEs) due to their affordability and effective functionalities is acting as a significant growth-inducing factor. Besides this, the widespread availability of customizable and affordable television subscription packages and increased spending on product advertising and promotion are strengthening the market growth. Looking forward, the market value is projected to reach US$ 322.0 Billion by 2032, expanding at a CAGR of 3.4% during 2024-2032.

Market Summary:

On the basis of the service type, the market has been divided into terrestrial, multichannel, and online. Amongst these, terrestrial represents the biggest market segment.
Based on the industry, the market is categorized into automotive, hotels and restaurants, insurance and finance, communication telecom, food and beverages, and others. Currently, automotive accounts for the largest market share.
On a regional basis, the market has been segmented into North America, Asia Pacific, Western Europe, Latin America, Eastern Europe, and the Middle East and Africa. At present, North America is the leading market for television advertising.
The competitive landscape of the industry has also been examined, covering the competitive structure and key player profiles.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Service Type Industry Region
Service Types Covered	Terrestrial, Multichannel, Online
Industries Covered	Automotives, Hotels and Restaurants, Insurance and Finance, Communication Telecom, Food and Beverages, Others
Region Covered	North America, Asia Pacific, Western Europe, Latin America, Eastern Europe, Middle East and Africa
Companies Covered	CBS, Comcast, News Corporation, Viacom and Cox Communications
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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