The Advertising and Market Research sector in Turkey has undergone significant changes over the past decade. From 2013 to 2023, the number of employees showed a fluctuating trend with an initial growth rate that later transitioned into a consistent decline. The highest number of employees was recorded in 2015 with a value of 73.59 thousand, after which the sector saw a steady decrease. By 2023, the number of employees stood at 51.1 thousand, marking a clear downward trajectory.
In terms of year-on-year variation, the sector experienced growth until 2015, after which the numbers began to fall. Over the last two years, the sector saw a negative year-on-year change of 5.02% in 2022 and 5.23% in 2023. The compounded annual growth rate (CAGR) over the past five years (2019-2023) indicates an average annual decline of 6.16%.
Looking ahead, the forecasted data suggests a continued decline in the workforce within this sector. The projected values from 2024 to 2028 show a steady reduction in the number of employees, forecasting a CAGR of -4.98% which translates to a 22.55% decrease over the next five years.
Future trends to watch for in the Advertising and Market Research sector in Turkey include:
- Increasing automation and the adoption of AI-driven technologies.
- Shifts in consumer behavior and media consumption patterns.
- Impact of economic policies and global market conditions.
- Emergence of new marketing channels and platforms.
- Potential regulatory changes impacting the advertising landscape.
