Global Media Buying Agencies And Representative Firms Market Size 2024, Forecast To 2033

The media buying agencies and representative firms market has witnessed steady growth, increasing from $79.29 billion in 2023 to $82.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period is attributed to strong economic growth in emerging markets, an increasing number of events, growth in the world population, and rising advertising expenditure. Moving into the future, the market is expected to see steady growth, reaching $97.55 billion in 2028 at a CAGR of 4.1%. Anticipated growth drivers in the forecast period include an increase in mobile video viewing, rising internet penetration, government support, and the growing young or millennial population. Major trends involve leveraging artificial intelligence (AI) and machine learning (ML) for marketing strategies, focusing on metaverse applications for virtual realistic interactions, new product launches for competitiveness and consumer preferences, utilizing big data for understanding customer ad preferences, providing digital services for targeted and personalized campaigns, and focusing on streaming services to capture audiences.