The advertising and market research output in Austria has shown a consistent growth trend from 2013 to 2023, where it stood at 5.37 billion euros. Significant fluctuations were observed notably in 2020 due to the COVID-19 pandemic, causing a sharp decline of 7.02% year-on-year. However, the sector quickly rebounded with an 8.23% increase in 2021, achieving a value of 5.29 billion euros by 2022. The compound annual growth rate (CAGR) over the last five years has averaged 1.17%, demonstrating steady growth.
Future outlook forecast indicates continued sustainable growth with a forecasted CAGR of 0.97% over the next five years, suggesting moderate but consistent market expansion through 2028. The anticipated output in 2028 is projected to be 5.71 billion euros, illustrating a total growth rate of 4.93% from 2023.
Future trends to watch for:
- Digital transformation driving more resources into online and digital marketing channels.
- Increased adoption of artificial intelligence and big data analytics for more personalized and targeted advertising.
- Shifts in consumer behavior and preferences influencing market research methodologies and strategies.
- Regulatory changes and their impact on advertising practices, especially in data privacy.
