In 2023, Italy led European countries in the number of high growth enterprises in advertising and market research with 166 enterprises, showing a modest year-on-year increase of 3.03%. Hungary followed with 146 enterprises, with a significant growth of 20.28%. The Czech Republic had 101 enterprises, increasing by 1.88%. Lithuania and Portugal also saw positive growth, with increases of 4.13% and 5.8% respectively. Conversely, Romania and Latvia experienced decreases of 3.29% and 6.01%, while Iceland showed significant growth at 14.87% despite its small base of just 2 enterprises. Norway maintained steady growth at 1.92%.
Looking ahead, pay attention to economic conditions influencing advertising spend and innovation indexes. Changes in digital marketing and analytics technologies could drive the number of high growth enterprises, particularly in tech-oriented countries. Regional policies on entrepreneurship and investment might also impact growth, especially in emerging economies within Europe. Monitoring shifts in consumer behavior and market research methodologies can provide further insights into future opportunities in this industry.
Top countries in Number of High Growth Enterprises in Advertising and Market Research by Country
| # | 10 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 166 | 2023 | +12.16% | +3.03% | View data |
| 2 | 2 Hungary | 146 | 2023 | +23.73% | +20.28% | View data |
| 3 | 3 Czech Republic | 101 | 2023 | +13.48% | +1.88% | View data |
| 4 | 4 Lithuania | 71 | 2023 | +14.52% | +4.13% | View data |
| 5 | 5 Portugal | 57 | 2023 | +18.75% | +5.8% | View data |
| 6 | 6 Slovakia | 51 | 2023 | +8.51% | +7.21% | View data |
| 7 | 7 Romania | 33 | 2023 | +10% | -3.29% | View data |
| 8 | 8 Latvia | 11 | 2023 | -8.33% | -6.01% | View data |
| 9 | 9 Norway | 11 | 2023 | +22.22% | +1.92% | View data |
| 10 | 10 Iceland | 2 | 2023 | 0% | +14.87% | View data |
