The output of Advertising and Market Research in Greece has exhibited fluctuations over the years from 2013 to 2023. In 2023, the market value stood at 1.26 billion Euros. The period between 2013 and 2018 witnessed a gradual increase in value despite minor dips, with significant growth in 2018. This upward trend continued until 2019. However, 2020 marked a decrease due to external economic factors, contributing to a downward trend through to 2023.
Recent year-on-year variations illustrate a decline: -2.09% in 2021, -2.09% in 2022, and -2.09% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years highlighted an average decrease of -1.22% per year.
From 2023 onwards, forecasted data predicts a steady decline in market value, reaching 1.12 billion Euros by 2028. The forecasted 5-year CAGR stands at -1.87%, with a total forecasted growth rate of -9.01% by 2028.
Future Trends to Watch For:
- The impact of digital transformation and technological advancements on market dynamics.
- Shifts in consumer behavior and their preference for personalized market solutions.
- Economic and geopolitical factors influencing advertising expenditures.
- Potential rises in data-driven marketing approaches and their market share implications.
