Advertising Agencies Global Market Report 2020-30: COVID 19 Growth And Change

The Business Research Company’s Advertising Agencies Global Market Report 2020-30: COVID 19 Growth And Change

LONDON, GREATER LONDON, UK, December 8, 2020 /EINPresswire.com/ -- Avail up to 50% off on ALL research reports at: https://www.thebusinessresearchcompany.com/global-market-reports. Offer applies until Dec 31st.

The launch of artificial intelligence (AI) in advertising is gaining popularity in the advertising agencies market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, as of May 2019, according to a survey, 47% of advertisers are currently using artificial intelligence for audience targeting. It has been reported that several companies are focusing their AI capacities to streamline their sales process, sorting out “hot” leads from “cold” prospects, cutting sales lead considerably, and improving sales productivity.

The global advertising agencies industry is segmented by mode into online advertising, offline advertising, by type: TV, digital, radio, print, out-of-home (OOH), others, by end-user industry: banking, financial services, and insurance sector (BFSI), consumer goods and retail, government and public sector, IT & telecom, healthcare, media & entertainment.

The global advertising agencies market size is expected to decline from $346.9 billion in 2019 to $346.5 billion in 2020 at a compound annual growth rate (CAGR) of -0.12%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The advertising agencies market growth is then expected to recover and reach $418.3 billion in 2023 at a CAGR of 6.48%. The regions covered in the global advertising agencies market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America has the largest advertising agencies market share, while Asia-Pacific is expected to be the fastest-growing region in the forecast period.

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