01 October, 2019
RALEIGH, North Carolina, October 1, 2019 - The global market for media planning and buying is expected to grow by 4 percent, with the global media expenditure forecasted to increase by $52.5 billion between 2018 and 2021 according to Beroe Inc., a procurement intelligence firm. The internet is the fastest growing medium, estimated to have 37 percent of the global ad spend in 2019.
North America has the largest media planning and buying market size, estimated to be worth $126–168 billion, growing at an annual rate of 3–4.5 percent, followed by the APAC with market size of $120–151 billion with a growth rate of 7–10 percent annually. North America and Europe have a higher concentration of network agencies, while the APAC has large buyers increasing their footprints fuelled by massive consumer bases and adoption of technology.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report - on its recently launched market intelligence platform Beroe LiVE: https://live.beroeinc.com/
The key drivers of the media planning and buying market are increasing digital penetration at a global level, with more marketers spending higher proportions of their advertising budgets on mobile formats. The primary constraints the market faces is the varying regulations that are applicable based on the specific industry, medium, and geography.
The media industry is growing by 4–5 percent globally and is also witnessing increased penetration of mobile and internet media. The shift of media budget from traditional to non-traditional media channels, increasing focus on emerging regions and cross-screen planning, artificial intelligence and technology-based media planning and buying are the major trends in the industry.
The research methodology adopted for the report included:
Outsourcing still forms a major part of media planning and buying, with 65–75 percent of buyers preferring to outsource services, compared to the 15–25 percent opting in-house services that offer less cost-saving potential. The maturity level of the market and the advertiser, level of media spend and cost of overheads play a major role in the adoption of the right sourcing model.
The report includes:
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc., please visit: http://www.beroeinc.com