Global advertising market has experienced a significant growth as a result of increasing population, rising incomes and improving standards of living. Apart from this, diversified media channels such as print, internet, television, radio, etc. are also providing several opportunities to the advertisers.
According to the latest report by IMARC Group titled, “Global Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2021”, the global advertising market reached a value of more than US$ 650 Billion in 2016, growing at a CAGR of 8% during 2009-2016. Global advertising is a process of endorsing a product or a service on the global level which assists the businesses to make profitable advertising decisions. It enhances the consumers’ awareness about the new products and helps them choose from different substitutes available in the market. On the other hand, it eliminates the middlemen from the chain of supplies, thereby increasing the manufacturer’s profit. It is also instrumental in increasing the goodwill of the market as repeated advertisements tend to create a lasting impression on the consumer’s mind and earn loyal customers to the companies.
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Highlights of the global advertising market:
Global advertising assists businesses to endorse their products on the global level.
The market is influenced by the increased expenditure on entertainment media.
The emerging markets have recorded a faster growth in the market as compared to the developed regions.
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As a result of increasing expenditure on media and entertainment on part of the consumers, the market for global advertising has witnessed a rapid growth in recent years. The consumers have started to direct their expenditure towards accessing the internet, reading newspapers and magazines, subscribing to television and radio, playing video games, going to the movies, etc. This emerges as a sporting chance for the advertisers to capture the attention of the audience through these media and promote their businesses. To accomplish this, eye-catching and informative advertisements are broadcasted through several media channels such as television, print, radio, outdoor, internet, mobile and cinema. As a consequence, they succeed in arresting the audience’s attention while they are engaged in listening to music, reading an article in the newspaper, or surfing the internet.
Some of the growth-inducing factors which have contributed to the growth of the market include infrastructure development, technological advancement, increasing population, rising incomes, improving standards of living, etc. Considering these factors, the global advertising market is expected to reach a value of around US$ 1000 Billion by 2022, growing at a CAGR of around 7% during 2017-2021.
On the regional basis, the growth of this market is slow in the developed regions such as Western Europe and North America. However, the emerging markets have exhibited a comparatively faster growth including Asia Pacific, Eastern and Central Europe, Middle East & Africa and Latin America.
The report by IMARC Group has examined the global ferrite magnet market on the basis of:
Global Television Advertising Market
Global Print Advertising Market
Global Radio Advertising Market
Global Outdoor Advertising Market
Global Internet Advertising Market
Global Mobile Advertising Market
Global Cinema Advertising Market
WPP Group PLC
Interpublic Group of Companies
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