Public Relations Global Market Sees Growth Rate Of 11% Through 2022

4 Feb, 2022

The global public relations market is expected to grow from $92.55 billion in 2021 to $102.80 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The growth in the market 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 public relations market is expected to reach $149.44 billion in 2026 at a CAGR of 9.8%.

What is the Global Public Relations Market?

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.

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What drives the Global Public Relations Market?

The rising need to gain a competitive advantage is driving the public relations market. Public relations can unite all functions with a single vision as per the mission of the organization. A well-made, integrated PR plan can connect customers and clients with the organization and creates a competitive advantage for organizations. It helps to attract attention and raise visibility for the product/service. In a PR Campaign, beverages brand Tropicana set out to show that even a small 150ml glass of Tropicana orange juice provides 60 percent of the daily Vitamin C. They set up an interactive billboard in London and showed an animated character, Little Glass, which discussed the health benefits of Vitamin C, of orange juice, specifically Tropicana and Tropicana representatives gave away 150ml glasses of orange juice. A research report in The Telegraph following the campaign showed that 88% of respondents said the campaign drove them to buy Tropicana more often and 100% of the respondents said that they had come away from the campaign believing Tropicana is worth paying more.

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Global Public Relations Market Segments
The global public relations market is segmented:
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 regions covered in the public relations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Public Relations Global Market Report 2022provides market size and growth forecasts for the global public relations market, global public relations market share, public relations market segments and geographies, public relations market competitive landscape including 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.

Global Public Relations Industry Playersinclude IPG, Publicis, Omnicom, WPP, Prezly, Business Wire, Havas PR, MWWPR, Mikhailov & Partners and DJE. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.