Public Relations Market Size, Industry Forecast, Insights 2024-2033

The Public Relations Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Public Relations Global Market Report 2024, The public relations market size has grown strongly in recent years. It will grow from $106.93 billion in 2023 to $114.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The  growth in the historic period can be attributed to growing traditional media landscape, corporate reputation management, crisis communication needs, word of mouth and advocacy, community engagement and csr.

The public relations market size is expected to see strong growth in the next few years. It will grow to $144.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to digital and social media dominance, influencer marketing integration, authenticity and transparency, globalization and cross-cultural communication, data-driven decision-making. Major trends in the forecast period include diversity, equity, and inclusion in communications, interactive content and experiences, employee advocacy, regulatory compliance, collaboration across departments.

The rising need to gain a 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 create a competitive advantage for organizations. It helps to attract attention and raise visibility for the product or service. In a PR Campaign, beverages brand Tropicana set out to show that even a small 150ml glass of Tropicana orange juice provides 60 percent of the daily Vitamin C. They set up an interactive billboard in London and showed an animated character, Little Glass, who discussed the health benefits of Vitamin C and orange juice, specifically Tropicana, and Tropicana representatives gave away 150ml glasses of orange juice. A research report in The Telegraph following the campaign showed that 88% of respondents said the campaign drove them to buy Tropicana more often, and 100% of the respondents said that they had come away from the campaign believing Tropicana was worth paying more for.

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The public relations market covered in this report is segmented –

1) By Medium: Events, Social Media, Influencer Marketing, Company Websites, TV, Print, Other Mediums

2) By Type: Private PR firms, Public PR firms

3) By End User: Consumer Goods and Retail, BFSI, Government and Public Sector, Telecom, IT, HealthCare, Media, Entertainment

Top Major Players:
Google LLC
Wells Fargo Advisors LLC
Teachers Insurance and Annuity Association of America,
Salesforce.com Inc.
Charles Schwab & Co.Inc.

Public relations (PR) companies are increasingly investing in digital PR in the digital medium. Programmatic PR refers to the automation of advertising. The increasing volume of global digital communications has 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, Accenture Interactive’s entry into the ad-buying world will incorporate the planning, buying, and management of programmatic advertisement campaigns. It will also help brands develop a strategy for attacking programmatic buying. These technological advances will help PR and drive the public relations market further.

 The public relations market report table of contents includes:

1. Executive Summary
2. Public Relations Market Characteristics
3. Public Relations Market Trends And Strategies
4. Public Relations Market – Macro Economic Scenario
5. Global Public Relations Market Size and Growth
….
32. Global Public Relations Market Competitive Benchmarking
33. Global Public Relations Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Public Relations Market
35. Public Relations Market Future Outlook and Potential Analysis
36. Appendix

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