The Business Research Company's just-released global analysis of media buying agencies and representative firms forecasts growth of 10.6% in 2022, from 2021's $70.82 billion to $78.35 billion in 2022, with growth expected to reach $112 billion by 2026. North America represents the largest region in the media buying agency and representative firm market, accounting for 30% of 2021's total.
The report's estimates are chiefly due to companies having rearranged operations and recovering from the pandemic, which had led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges.
The research points out strategic partnerships and collaborations with other companies to broaden product portfolios and expand media buying agencies and representative firms' business in 2021, such as Outbrain's $55 million acquisition of Video Intelligence, which is in the early phases of developing its connected TV (CTV) offering.
Also mentioned in The Business Research Company's analysis is the fragmented nature of the business, with the top ten competitors in the market accounting for 17.34% of the total market in 2020. Major players include Publicis Groupe, WPP PLC, Omnicom Group Inc., Dentsu Inc., The Interpublic Group of Companies, Havas SA, Horizon Media, Hakuhodo DY Media Partners Inc., Kingstar Media and EXL Media.
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