The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The global advertising market was valued at US$ 590.3 Billion in 2021.
We expect the global advertising market to exhibit a CAGR of 5.2% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of digital advertising over traditional media platforms, such as billboards across numerous organizations for promoting their products and services, during the lockdown scenario.
The rising spending on advertisements across the media and entertainment industry, along with the growing popularity of mobile advertising, as it is cost-effective, convenient, and highly targeted way of communication for specific groups of mobile users, is primarily driving the global advertising market.
Based on the type, the global advertising market can be bifurcated into television, print (newspaper and magazine), radio, outdoor, internet (search, display, classified, video), mobile, and cinema. Currently, television advertising exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global advertising market include WPP Group PLC, Omnicom Group, Inc., Publicis Groupe, Interpublic Group of Companies, Inc., Dentsu Inc., etc.
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