In 2023, the European output of advertising and market research showed robust growth in several countries, with France leading at 20.72 billion Euros, followed by the Netherlands at 10.87 billion Euros and Belgium at 6.39 billion Euros. Smaller markets like Slovakia and Portugal saw outputs of 2.25 billion Euros and 2.0 billion Euros, respectively. Cyprus exhibited the highest year-on-year growth rate at 27.65%, driven largely by increasing investments in digital advertising and analytics. Lithuania and Estonia also showed notable upticks at 5.03% and 6.94% respectively. On the contrary, Luxembourg experienced a slight decline of 2.99%.
Future trends to watch for include:
• Continued investments in digital and data-driven advertising strategies, particularly in rapidly growing markets such as Cyprus and Estonia.
• Increased focus on sustainability and corporate social responsibility in advertising campaigns.
• The potential impacts of regulatory changes related to data privacy and advertising standards across the EU.
• Adoption of AI and machine learning technologies for more precise market research and targeted advertising.
• Consolidation and partnerships among agencies to leverage broader market capabilities and technologies.
Top countries in Output of Advertising and Market Research by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 20,720 | 2023 | +4.04% | +0.75% | View data |
| 2 | 2 Netherlands | 10,870 | 2023 | +1.47% | +1.99% | View data |
| 3 | 3 Belgium | 6,390 | 2023 | +2.82% | +0.56% | View data |
| 4 | 4 Slovakia | 2,250 | 2023 | +4.53% | +4.93% | View data |
| 5 | 5 Portugal | 2,000 | 2023 | +4.07% | +1.14% | View data |
| 6 | 6 Cyprus | 977.9 | 2023 | +13.8% | +27.65% | View data |
| 7 | 7 Lithuania | 799.25 | 2023 | +4.65% | +5.03% | View data |
| 8 | 8 Estonia | 612.93 | 2023 | +5.23% | +6.94% | View data |
| 9 | 9 Luxembourg | 254.57 | 2023 | +1.21% | -2.99% | View data |
