Integration of Technology to Majorly Shape Future of Media Buying Services Market, Predicts Fact.MR
Integration of Technology to Majorly Shape Future of Media Buying Services Market, Predicts Fact.MR
According to this study by Fact.MR, a market research and competitive intelligence provider, the global media buying services market is estimated at US$ 69 billion in 2022 and is expected to progress at a CAGR of 6.2% during the forecast years of 2022-2032. The market is poised to grow due to an improved business environment and the integration of technology in service offerings.
Media buying services are important for new businesses as well as for established players. For a company to grow in the current competitive world, one needs to establish itself differently from its counterparts. To do so, companies can either come up with something different or the improved versions of existing products, or can market their products in a way where consumers are able to differentiate them.
Media buying companies can help businesses achieve their desired market share by providing promising and effective strategies to market their products to end consumers. Media buying agencies not only help their clients in buying the right media channels but also in identifying the correct time, place, medium, and target audience. Once the ad is on air, the media buying agency also help the client by providing the collected data with the help of technology.
Integration of technology into media buying services has streamlined many of the tasks that were manually performed by media buying agency personnel.
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Key Takeaways from the Market Study:
“Media buying services market to enjoy high growth amid improved business conditions,” says a Fact.MR analyst.
Market Development:
The business environment of the media buying services market continues to reflect the booming conditions within the industry despite intense competition among major players. To increase their market share, major market players are entering into mergers & acquisitions, collaborations, and partnerships. Moreover, industry players are making efforts to increase their customer base by focusing on different end users and geographies.
Leading Players Driving Innovation in the Media Buying Services Market:
Key industry participants like Anderson Collaborative, ARSENL, ATTN Agency, Booyah Advertising, Colormatics, Dentsu, EXL Media, GKV, Hotspex Media, Interpublic Group, Katz Media Group, Mancuso Media, Metric Theory, Moburst, MuteSix, Omnicom Group Inc., Publicis Armenia, Publicis Groupe, The buying Hub, The Remnant Agency, Wingman Media, WPP etc. are driving the media buying services industry.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global media buying service market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (direct buys, programmatic buys), channel (digital - social media advertising, search media advertising, programmatic media advertising, traditional - radio advertising, print advertising, television, outdoor), and end-use industry (BFSI, retail & consumer goods, business & consumer services, healthcare, manufacturing, transportation & mobility, energy & utility, trading & warehousing, media & entertainment, hospitality), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Media buying is the process of purchasing advertising space and time on various media channels to promote products or services effectively.
CAGR stands for Compound Annual Growth Rate, which represents the mean annual growth rate of an investment over a specified time period.
Programmatic advertising is the automated buying and selling of online advertising space, using technology to target specific audiences.
Social media advertising involves promoting products or services through paid advertisements on social media platforms to reach targeted audiences.
Media buying agencies are firms that specialize in purchasing advertising space and time on behalf of clients, optimizing their advertising strategies.
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