Media Buying Agencies And Representative Firms Global Market Opportunities And Strategies To 2032

This report describes and explains the media buying agencies and representative firms market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global media buying agencies and representative firms market reached a value of nearly $75,498.2 million in 2022, having grown at a compound annual growth rate (CAGR) of 2.9% since 2017. The market is expected to grow from $75,498.2 million in 2022 to $91,799.5 million in 2027 at a rate of 4.0%. The market is then expected to grow at a CAGR of 5.3% from 2027 and reach $118,687.2 million in 2032.

Growth in the historic period resulted from strong economic growth in emerging markets, increasing number of events, growth in world population and rising advertisement expenditure.

Going forward, increase in mobile video viewing, increasing internet penetration, government support and growing young or millennial population will drive the growth. Factors that could hinder the growth of the media buying agencies and representative firms market in the future include privacy concerns and the Russia-Ukraine war.

The media buying agencies and representative firms market is segmented by services into media buying service, media planning service, media representative firms and other services. The media buying service market was the largest segment of the media buying agencies and representative firms market segmented by services accounting for 38.7% of the total in 2022. Going forward, the media planning service market is expected to be the fastest growing segment in the media buying agencies and representative firms market segmented by services, at a CAGR of 6.5% during 2022-2027.

The media buying agencies and representative firms market is segmented by mode into offline and online. The offline market was the largest segment of the media buying agencies and representative firms market segmented by mode accounting for 70.9% of the total in 2022. Going forward, the online market is expected to be the fastest growing segment in the media buying agencies and representative firms market segmented by mode, at a CAGR of 5.6% during 2022-2027.

The media buying agencies and representative firms market is segmented by application into banking, financial services, and insurance (BFSI) sector, consumer goods and retail, government and public sector, IT (Information Technology) and telecom, healthcare and media and entertainment. The consumer goods and retail market was the largest segment of the media buying agencies and representative firms market segmented by application accounting for 38.1% of the total in 2022.

Going forward, the consumer goods and retail market is expected to be the fastest growing segment in the media buying agencies and representative firms market segmented by application, at a CAGR of 4.5% during 2022-2027.

Asia Pacific was the largest region in the media buying agencies and representative firms market, accounting for 30.8% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the media buying agencies and representative firms market will be South America and Eastern Europe where growth will be at CAGRs of 7.3% and 6.2% respectively. These will be followed by the Middle East and Africa where the markets are expected to grow at CAGRs of 6.1% and 5.6% respectively.

The media buying agencies and representative firms market is fairly fragmented, with a large number of small players. The top ten competitors in the market made up to 19.46% of the total market in 2021. WPP PLC was the largest competitor with 5.11% share of the market, followed by Publicis Groupe with 4.36%, Omnicom Group Inc. with 3.36%, Dentsu Inc. with 2.53%, The Interpublic Group of Companies with 1.40%, Havas SA with 1.36%, Katz Media Group with 0.82%, Hakuhodo DY Media Partners Inc. with 0.39%, Horizon Media with 0.12%, and Kingstar Media with 0.01%.

The top opportunities in the media buying agencies and representative firms market segmented by services will arise in the media buying service segment, which will gain $8,878.0 million of global annual sales by 2027. The top opportunities in segment by mode will arise in the offline segment, which will gain $9,384.1 million of global annual sales by 2027. The top opportunities in segment by application will arise in the consumer goods and retail segment, which will gain $7,057.0 million of global annual sales by 2027. The media buying agencies and representative firms market size will gain the most in China at $2,998.8 million.

Market-trend-based strategies for the media buying agencies and representative firms market include leveraging artificial intelligence (AI) and machine learning (ML) to help marketers to run more experiments and to further develop new strategies, focusing on metaverse applications to interact with customers in virtual realistic settings, focusing on new product launches to stay competitive and meet the evolving needs and preferences of consumers, leveraging big data to help advertisers and companies better understand the customer ad preferences, focusing on digital services for more targeted and personalized campaigns and focusing on streaming services to capture audiences.

Player-adopted strategies in the media buying agencies and representative firms market include expanding media planning and buying business through strategic partnerships, maximizing consumer attention through strategic collaborations, creating more efficient media planning and measurement models and focusing on launch of new solutions.

To take advantage of the opportunities, the publisher recommends the media buying agencies and representative firms companies to focus on focus on use of artificial intelligence and machine learning, focus on new product launches, focus on metaverse applications, focus on increasing investments to improve product portfolio, increasing adoption of digitalization, expand in emerging markets, continue to focus on developed markets, target countries with high and fastest-growing digital ad spending, provide competitively priced offerings, participate in trade shows and events, focus on online marketing and continue to focus on fast-growing applications.