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.
Order your copy of the Creative Advertising Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
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.
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.
• Labor cost, production cost, and equipment cost account for the largest cost component of the creative advertising business.
• Most of the service providers offer services such as developing, designing, and producing the creative idea as per the requirements
Browse through Grand View Research’s collection of procurement intelligence studies:
• Blockchain Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Big Data Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
List of Key Suppliers
• WPP
• Omnicom
• Interpublic Group
• Dentsu
• Havas
• MDC Partners
• Ogilvy
• McCann Worldgroup
• BBDO
• Grey Global Group
Creative Advertising Procurement Intelligence Report Scope
• Creative Advertising Category Growth Rate: CAGR of 9% from 2023 to 2030
• Pricing Growth Outlook: 8% – 10%(Annually)
• Pricing Models: Hourly rate pricing model and project fee pricing model
• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence
• Supplier Selection Criteria: Transparency, creativity, innovation, type, technical expertise, security measures, cost and value, support and maintenance, regulatory compliance, and others
• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
