Paris, Oct. 05, 2022 (GLOBE NEWSWIRE) — According to this study by Fact.MR, market research and competitive intelligence provider, the global media buying services market is estimated at US$ 69 billion in 2022 and is expected to progress at a CAGR of 6.2% during the forecast years of 2022-2032. The market is poised to grow due to an improved business environment and the integration of technology in service offerings.
The U.S. media buying services market is expected to expand at a CAGR of 6.2% during the forecast period.
Media buying services are important for new businesses as well as for established players. For a company to grow in the current competitive world, one needs to establish itself differently from its counterparts. To do so, companies can either come up with something different or the improved versions of existing products, or can market their products in a way where consumers are able to differentiate them.
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Media buying companies can help businesses achieve their desired market share by providing promising and effective strategies to market their products to end consumers. Media buying agencies not only help their clients in buying the right media channels but also in identifying the correct time, place, medium, and target audience. Once the ad is on air, the media buying agency also helps the client by providing the collected data with the help of technology.
Integration of technology into media buying services has streamlined many of the tasks that were manually performed by media buying agency personnel.
Media buying services accounted for nearly 12% share of the global advertising industry in 2021.
There are several reasons why India will be a much bigger market than it is at present. India is a country with one of the largest mobile users armed with the cheapest mobile data in the globe. Indians are spending, on average, around 4.5 hours on their mobiles daily.
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Key Takeaways from Market Study
- The global media buying service market is projected to expand at 6.2% CAGR and reach US$ 125.9 billion by 2032.
- The market expanded at 5.5% CAGR between 2017 and 2021.
- Under channel type, social media advertising is valued at US$ 14.9 billion in 2022.
- North America led the global market with 42% market share in 2021.
- Revenue from media buying services is expected to increase at CAGRs of 6.2% and 6.4%, respectively, in Europe and South Asia & Oceania.
Segmentation of Media Buying Services Industry Research
- By Type :
- Direct Buys
- Programmatic Buys
- By Channel :
- Social Media Advertising
- Search Media Advertising
- Programmatic Media Advertising
- Radio Advertising
- Print Advertising
- By End-use Industry :
- Retail and Consumer Goods
- Business and Consumer Services
- Transportation and Mobility
- Energy and Utility
- Trading and Warehousing
- Media & Entertainment
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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The business environment of the media buying services market continues to reflect the booming conditions within the industry despite intense competition among major players. To increase their market share, major market players are entering into mergers & acquisitions, collaborations, and partnerships. Moreover, industry players are making efforts to increase their customer base by focusing on different end users and geographies.
• For instance, in May 2022, Dentsu Group Inc. acquired additional shares of the digital marketing operations company Dig into Inc.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global media buying service market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (direct buys, programmatic buys), channel (digital – social media advertising, search media advertising, programmatic media advertising, traditional – radio advertising, print advertising, television, outdoor), and end-use industry (BFSI, retail & consumer goods, business & consumer services, healthcare, manufacturing, transportation & mobility, energy & utility, trading & warehousing, media & entertainment, hospitality), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Advertising Services Market – The global advertising services market is estimated at US$ 665 billion in 2022 and is further projected to expand at a CAGR of 7.2% to turn into a trillion-dollar market by the end of 2032.Ad services accounted for approximately 30% share of global marketing spend by all enterprises in 2021. The proportion of ad spend is further anticipated to swell to 45% of overall marketing budgets within the next ten years.
Outdoor Advertising Market – The global outdoor advertising market has reached a valuation of US$ 27.7 billion in 2022 and is predicted to accelerate at a CAGR of 6.4% to top a market size of US$ 51.4 billion by 2032.Outdoor advertising accounted for 4.2% share of the global enterprise advertising market at the end of 2021.
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