Between 2013 and 2023, the production of advertising and market research in Hungary experienced fluctuations. The production value grew steadily from 2013 to 2018, with a significant jump in 2018 (16.24% year-on-year). However, a slight dip occurred in 2019, followed by a sharp decline in 2020 due to sectoral challenges, notably the impact of the COVID-19 pandemic. Recovery was observed in the subsequent years, reaching 345.64 billion forints in 2023, marking a modest annual growth rate of 2.84%. The compound annual growth rate (CAGR) over the last five years stood at 2.25%.
Future trends to watch for in the advertising and marketing research sector in Hungary include the continued impact of digital transformation, the integration of advanced data analytics, and shifting consumer behavior preferences. These factors will likely drive moderate growth, with forecasted values indicating a CAGR of 2.12% from 2024 to 2028, culminating in a projected production value of 395.53 billion forints by 2028. Additionally, the sector is expected to benefit from technological advancements and increased investment in innovative marketing techniques.
