The value added of advertising and market research in Spain experienced fluctuation and growth between 2013 and 2023. Starting from 4.41 billion euros in 2013, it increased to 6.44 billion euros by 2023, with a significant dip in 2020 at 5.06 billion euros due to the pandemic. The sector recovered strongly in 2021 with a 22.75% increase. Despite an overall fluctuating trend, the compound annual growth rate (CAGR) over the last five years (2018-2023) stands at 1.45%.
Future trends to watch for include advancements in digital advertising, increasing emphasis on data-driven marketing strategies, and the potential impact of economic conditions on advertising spend. The forecast indicates steady growth, with the CAGR for 2024-2028 at 1.35% and the value projected to reach 7.01 billion euros by 2028.
