Forecast: Turnover in Advertising and Market Research by Size Class in Denmark

The turnover in the Advertising and Market Research sector in Denmark experienced fluctuations over the past decade. From 2013 to 2019, there was a general upward trend, peaking at 19.28 billion DKK in 2019. However, starting in 2020, the sector saw a significant decline. In 2023, the turnover stood at 16.36 billion DKK, a substantial drop from the peak in 2019. The year-on-year variations for 2023 saw a decrease of 2.9%, and the last two years also indicated a downward trend, with declines of 2.84% in 2022 and 2.18% in 2021. The 5-year CAGR reflects a negative growth, averaging a 2.36% decline per year over the last five years.

Looking ahead, the forecast indicates a continued decline in turnover through 2028, with an average annual contraction rate of 2.5% according to the 5-year CAGR. Future trends to watch for include the impact of digital transformation, changing consumer behavior, and the potential for economic disruptions or market innovations that could either mitigate or exacerbate the current decline.