The global media planning and buying market was valued at more than USD209 billion in 2016 and is expected to reach USD263 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on media planning and buying for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global media planning and buying market during the forecast period. Some of the top vendors listed in this industry analysis include OMD, Starcom Mediavest, ZenithOptimedia, Mindshare, and Carat.
In terms of geographical analysis, the Americas accounted for the largest share of the global market during 2016, with a market share of around 42%. The US was the highest revenue generator in the region and occupied over 95% of the total demand.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “There has been a noticeable shift in preference towards programmatic buying. Programmatic buying helps optimize and analyze the media buying process decisions as it allows a specific group of people and demographics to be targeted. As a result, there is an increased preference for programmatic media buying, especially among large organizations, to enable real-time buying of advertisement slots. Programmatic buying brings about improved efficiency in transactions by cutting down complex tasks in the media buying process.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increase in the demand for consumer analytics
The increase in the number of advertising platforms has made the media landscape very complex and costly in recent years, thereby making it difficult for advertisers to achieve an optimum ROI. It has led to an increase in the demand for consumer analytics, which enables buyers to identify the target audiences’ behavioral patterns and understand which platforms will help achieve the desired visibility objectives. The increased demand for advanced consumer analytics is propelling the demand for media planning and buying services in the global market.
Increasing adoption of content marketing
Content marketing is the technique of creating and distributing valuable and relevant information on online media platforms to attract and acquire customers. Advertisers are looking to achieve a wider target audiences due to changes in consumer behavior. Many companies are delivering consistent, valuable information via content marketing to create brand awareness.
Limited availability of media space
The limited availability of media space, especially for prime slots, is augmenting the demand for media buying services in the global market. Buyers are required to build beneficial relationships with media buying agencies in order to the desired slots, thereby propelling the demand for media buying services in the market.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Media Planning Buying Market – Procurement Market Intelligence 2017.’
