Industry Analysis & Industry Trends
The Advertising Agencies industry has grown during the past five years after struggling with heavy falls in revenue. Nevertheless, revenue is expected to remain below the levels recorded prior to the economic downturn, in real terms. Demand for advertising services was adversely affected by weak levels of business confidence as it resulted in firms restricting their marketing budgets. The fall in real disposable income also dampened demand for industry services as pressure on household spending generally reduces the ability of advertising campaigns to attract more customers. However, online advertising revenue grew strongly during the past five years as consumers began accessing more media content online through tablets, smartphones and computers... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The services offered by the Advertising Agencies industry have become a part of daily life for both the public and industry customers. The shift towards online communication and digital media applications has caused considerable competition from external players. As a result, the industry is expected to have entered the mature stage of its life cycle.
Industry value added, which measures the industry's contribution to the overall economy, is anticipated to grow at a compound annual rate of 4.1% during the 10 years through 2019-20. Meanwhile, the UK economy is forecast to grow at a compound annual rate of 2.1% over the same period. Although this indicates that the industry will account for a growing share of the economy, the industry is not in the growth stage of its life cycle... purchase to read more