Between 2013 and 2023, the Gross Value Added (GVA) of Advertising and Market Research in Spain showed fluctuating trends, with notable growth and contraction periods. The market saw a considerable decline in 2020, attributed to the global pandemic, with a 24.48% decrease year-on-year. However, there was a strong recovery over the next two years, with a GVA reaching 6.45 billion Euros in 2023, marking a 7.3% increase from 2022. The market demonstrated an average annual growth rate (CAGR) of 1.2% over the last five years.

Future forecasts suggest a continuation of growth, albeit at a moderate average annual rate of 1.47% up to 2028, with an overall increase of 7.58% in GVA. By 2028, the sector is expected to achieve a value of 7.08 billion Euros.

Key future trends to watch for include:

The increasing integration of digital technologies and data analytics in advertising and market research applications.
A shift towards personalized marketing strategies and consumer-centric approaches driven by advanced data insights.
Potential impacts of regulatory changes and data privacy concerns on market strategies and operations.