Employment in the UK advertising and market research sector has shown variability over the past decade. From 2013, with 142.98 thousand FTEs, the sector experienced fluctuations with notable declines in 2014 and 2018. The figure began to stabilize post-2018, with 2023 marking 147.02 thousand FTEs, reflecting a relatively steady trend in recent years. Year-on-year variations revealed a general moderation from 2018 to 2023, with incremental growth rates ranging from 0.63% to 0.67%. The CAGR for 2023 stands at 1.3%, indicating modest, yet positive average growth over the past five years.
Forecasts for 2024 and beyond project a consistent increase, with employment expected to reach 151.25 thousand by 2028. The forecasted 5-year CAGR is 0.45%, and the overall growth for this period is projected at 2.27%, suggesting a stable upward trend, though at a slower pace compared to the previous decade.
Future trends to watch for include technological advancements impacting workforce needs, increasing demand for digital marketing expertise, and potential economic fluctuations influencing advertising budgets. Changes in consumer behavior and regulatory developments may also significantly affect employment dynamics in this sector.
