(Companies: IPG, Publicis, Omnicom, WPP and Prezly)
The global public relations market was valued at about $63.8 billion in 2018. North America was the largest region in the public relations market in 2018. This region is expected to remain the largest during the next five years.
Public relations services’ companies manage, design and implement communication between an organization and its customers. Activities of PR firms aims to promote the image of their clients and encourages favorable relations between the client and its stakeholders, such as consumers, government, general public, employees and investors.
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The global public relations market is expected to grow to $93.07 billion at a rate of about 9.9% through 2022. Rising need to gain competitive advantage is driving the public relations market. Public relations can unite all functions with a single vision as per the mission of the organization. A well-made, integrated PR plan can connect customers and clients with the organization and creates competitive advantage for organizations. It helps to attract attention and raise the visibility for the product/service.
Stringent data collection regulations such as GDPR (General Data Protection Regulation) prove to be a restraint on the market.
Public relations (PR) companies are increasingly investing in programmatic PR in the digital medium. Programmatic PR refers to the automation of advertising. Increasing volume of global digital communications led to handing over the manual tasks to artificial intelligence. Programmatic PR increases transparency and control and is more efficient as it has better targeting capabilities for audiences. The area of reach is also greater in programmatic PR. For instance, in 2018 Accenture Interactive entered the ad-buying world and incorporates the planning, buying and management of programmatic advertisement campaigns. It also helps brands in developing a strategy on attacking programmatic buying. These technological advances will help PR and drive the market further.
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Major players in the market are IPG, Publicis, Omnicom, WPP and Prezly. Omnicom is an inter-connected global network of leading marketing communications companies. As a global leader in marketing communications, Omnicom provides brand and advertising services to over 5000 clients in over 100 countries
Few Points From List of Tables:
Table 1: Global Historic Market Growth, 2014-2018, $ Billion
Table 2: Global Forecast Market Growth, 2014-2022F, 2025F, 2030F, $ Billion
Table 3: Global Public Relations Market, Segmentation By Medium, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 4: Global Public Relations Market, Segmentation By End User, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 5: Global Public Relations Market, Segmentation By Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 6: Global Public Relations Market, Split By Region, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 7: Global Public Relations Market, Split By Country, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 8: Asia-Pacific, Public Relations Market, Segmentation By Medium, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Table 9: Asia-Pacific, Public Relations Market, Segmentation By End User, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
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