The Business Research Company’s Advertising, Public Relations, And Related Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 21, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The PR industry overview by TBRC states that advances in technology are expected to drive targeted advertising, making it more accurate than ever before. Companies such as Google, Facebook, and Twitter have developed advertisement delivering methods where they track netizen's movements around the web and enable advertisers to reach users via tailored advertisements, where people see products based on what they have previously searched for. Other examples of targeted advertising include tracking where people shop, what they buy online and what they read about online. This helps companies build up profiles of consumers with their behavioral patterns and shopping habits and other information such as their job and income. This facilitates advertisers in reaching people with personalized advertisements. Such improvements and advances in online advertising are expected to drive market growth in the forecast period.
The global advertising, public relations, and related services market size is expected to grow from $691.1 billion in 2020 to $754.3 billion in 2021 at a compound annual growth rate (CAGR) of 9%. 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 market is expected to reach $966.2 billion in 2025 at a CAGR of 6%.
According to public relations market research, Asia Pacific was the largest region in the global advertising, public relations, and related services market, accounting for 33% of the market in 2020. North America was the second largest region, accounting for 28% of the global market. Africa was the smallest region in the advertising and public relations market.
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