The production of advertising and market research in Colombia has shown a consistent upward trajectory from 2014 to 2023, where it stood at 5.0908 trillion Colombian Pesos. Year-on-year variations indicate some volatility, with notable increases in 2015 (7.15%) and 2016 (15.54%), and a slight decline in 2020 by -2.85% due to possible market disruptions. The last two years before 2024 exhibited moderate growth: 7.52% in 2021 and 2.06% in 2022, stabilizing at 1.97% in 2023. The five-year Compound Annual Growth Rate (CAGR) from 2018 to 2023 is 1.86%, reflecting a steady growth phase over the period.
Future projections up to 2028 suggest that this upward trend will continue at a slightly slower average annual growth rate (1.52% CAGR), with an anticipated cumulative five-year growth rate of 7.82%. This indicates a more stable yet positive outlook for the sector in the coming years.
Future trends to watch for include:
- Increasing digital transformation in advertising and market research.
- Expanding investment in data analytics and AI to facilitate targeted marketing strategies.
- Growth in mobile marketing and the use of social media platforms.
- A shift towards more sustainable and ethical marketing practices.
