Growth of the creative Advertising Category is driven by increasing demand for digital marketing and increasing diversity of the target audience

Creative Advertising Category - Procurement Intelligence

The creative advertising category is expected to grow at a CAGR of 9% from 2023 to 2030. The global creative advertising category size was valued at USD 321 billion in 2022. The growth of this field is being driven by the expansion of digital marketing, which allows organizations to more precisely target their advertising and measure the success of their campaigns. This makes it easier for firms to recognize and invest in creative advertising. Another element fueling the growth of creative advertising is the growing importance of data analytics. Data analytics enables organizations to better understand their customers and generate more successful advertising efforts. Consumers are increasingly seeking individualized experiences in creative advertising, prompting firms to employ data analytics to more accurately target ads, resulting in more effective and engaging campaigns. Consumer demographics are changing, fueling the growth of creative advertising. Consumers are becoming more fragmented and demanding, and they want advertising that speaks to and is relevant to their values. Businesses that use innovative advertising can engage their customers on a more personal basis.

Companies are continuously focusing on merging and/or collaborating with their competitors/peers to strengthen their operational & functional capabilities. For instance:

• In July 2023, Havas purchased 51% of the stake in Uncommon, a renowned creative company in the UK. This investment is in line with Havas’ vision to strengthen its creativity portfolio

• In May 2023, DDB Worldwide merged with Adam&EveNYC and DDB New York, establishing a new company known as Adam&EveDDB. Caroline Winterton, currently president of Digitas New York and Atlanta, will join Adam&EveDDB New York as CEO. She starts her new job in the fall.

In this category, technology such as artificial intelligence is used in the creation of more tailored and relevant marketing, as well as the analysis of data about the target audience in order to discover their requirements and interests. This data is utilized to develop campaigns that are more likely to resonate with the intended audience. Data analytics is a valuable tool for optimizing targeting, analyzing customer interests and demographics, and designing stronger creative campaigns in the creative advertising market. Data analytics may find the correct audiences for ads by tracking customer activity, resulting in better targeting and ROI. Virtual reality (VR) and augmented reality (AR) are used to produce more engaging and memorable immersive creative advertising experiences. 

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Creative Advertising Sourcing Intelligence Highlights

• The number of both large and small companies operating in different areas has caused the creative advertisement category to become highly fragmented on a worldwide scale. Players compete aggressively with one another to grow their customer base and offer superior customer service.

• Creative consultants’ salaries/labor, production cost, equipment and technology, facilities/rent, marketing/advertising, administrative expenses/utilities, and legal cost are some of the cost components in creative advertising services business.

• Most of the service providers offer services such as developing, designing, and producing the creative idea as per the requirements

Creative Advertisement Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape

• Market estimates and forecasts from 2022 to 2030

• Growth opportunities, trends, and driver analysis

• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments

• Porter’s 5 forces

• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis

• Engagement and operating models, KPI, and SLA elements

• LCC/BCC analysis and negotiation strategies

• Peer benchmarking and product analysis

• Market report in PDF, Excel, and PPT and online dashboard versions

Cost Intelligence Highlights

Grand View Research has identified the following key cost components for the creative advertisement category:

• Creative Consultants’ Salaries/Labor

• Production Cost

• Equipment and Technology

• Facilities/Rent

• Marketing/Advertising

• Administrative Expenses/Utilities

• Legal Cost

• Others

Creative Consultants’ salaries/labor form the largest cost components of the creative advertisement category. 

List of Key Suppliers in the Creative Advertisement Category

• WPP

• Omnicom

• Interpublic Group

• Dentsu

• Havas

• MDC Partners

• Ogilvy

• McCann Worldgroup

• BBDO

• Grey Global Group