According to the latest report by IMARC Group, titled “Global Print Advertising Market Report & Forecast 2019-2024”, the global print advertising market reached a value of US$ 98 Billion in 2018. Advertising is an activity used for drawing attention towards an event, service or product using public media such as radio, television, print and digital. Amongst these, print advertising is the oldest form of advertising used worldwide and utilizes physically printed advertisements for reaching potential consumers. There are numerous advantages offered by print advertising such as in-depth analysis and coverage of events and mass circulation of quick, inexpensive and tangible news and advertisements. At present, there are different media of print advertising available in the market which include magazines, leaflets, direct mail and newspapers.
Over the past few years, the print advertising market has experienced hindrances in its growth owing to the rising popularity of digital advertising and increasing environmental concerns amongst the consumers. Despite the decline, the market is witnessing a revival in its growth as the advertisers still print media to draw the attention of consumers to their events, products or brand as it is cheaper as compared to other forms of advertising. In addition, the advertisers are concentrating on developing new marketing strategies such as the utilization of local, regional or national newspaper and magazine titles. The local forms of media enable them to cover a larger area in the region. These efforts have, in turn, contributed to the escalating demand for print advertising across the globe. Moreover, there are several other factors which are having a positive impact on the global print advertising market including targeted marketing, loyal readership, credibility, and high retention rates. According to IMARC Group, the market is projected to reach a value of nearly US$ 95 Billion by 2024, at an expected CAGR of -0.5% during 2019-2024.
- The global print advertising market has been segmented on the basis of types which mainly include newspaper advertising and magazine advertising. Presently, newspaper advertising is the most popular type of print advertising as newspapers are more affordable than magazines and have a larger readership.
- On a regional basis, Asia Pacific represents the largest market for print advertising, holding the majority of the total market share. This can be accredited to the consistent demand for newspapers across developing nations in the region, such as India and China. Some of the other major markets include EMEA, North America and Latin America.
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