The Advertising and Market Research Sector in Austria has demonstrated fluctuations over the past decade. From 2013 to 2023, production values increased from 2.25 billion euros to 2.81 billion euros, a notable growth reflective of both periodical setbacks and recoveries. The lowest point was in 2020, where production dipped by 10.73%, primarily due to the global pandemic. However, the sector rebounded strongly with 15.61% growth in 2021. Over the last two years, the sector has seen a steady upward trajectory, with year-on-year increases of 6.12% in 2022 and 4.78% in 2023. Projected CAGR for the next five years stands at 1.8%, with the sector expected to reach 3.15 billion euros by 2028.
Future trends to watch for:
- Increased digital transformation and the role of AI in advertising strategies
- Growing importance of data analytics in market research
- Potential risks from economic uncertainties and regulatory changes
