Global Public Relations Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
12 Aug, 2021
The public relations (PR) market consists of sales of public relations and related services. Public relations services’ companies manage, design, and implement communication between an organization and its customers. Activities of PR firms aim to promote the image of their clients and encourages favorable relations between the client and its stakeholders, such as consumers, government, the general public, employees, and investors.
Global Public Relations Market Size And Drivers:
The global public relations market is expected to grow from $88.13 billion in 2020 to $97.13 billion in 2021 at a compound annual growth rate (CAGR) of 10.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The PR market is expected to reach $129.35 billion in 2025 at a CAGR of 7.4%. The rising need to gain a competitive advantage is driving the public relations market.
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Trends In The Global Public Relations Market
Public relations companies are increasingly investing in programmatic PR in the digital medium. Programmatic PR refers to the automation of advertising. The increasing volume of global digital communications led to hand over the manual tasks to artificial intelligence. Programmatic PR increases transparency and control and is more efficient as it has better targeting capabilities for audiences. The area of reach is also greater in programmatic PR.
Global Public Relations Market Segments:
The global public relations market is further segmented based on medium, end user, type and geography.
By Medium: Events, Social Media, Influencer Marketing, Company Websites, TV, Print, Others
By End User: Consumer Goods and Retail, BFSI, Government and Public Sector, Telecom, IT, HealthCare, Media, Entertainment
By Type: Private PR Firms, Public PR Firms
By Geography: The global public relations market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Public Relations Market At:https://www.thebusinessresearchcompany.com/report/public-relations-global-market-report
Public Relations Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides public relations market overviews, analyzes and forecasts market size and growth for the global public relations market, public relations market share, public relations market players, public relations market segments and geographies, public relations market’s leading competitors’ revenues, profiles and market shares. The public relations market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.