The global PR management market size is estimated at US$ 67.3 billion in 2022 and is expected to expand at a high CAGR of 6.9% during the forecast years of 2022-2032, according to Fact.MR, a market research and competitive intelligence provider.
PR management professionals have been able to transition their operations to digital platforms due to the significant increase in Internet users. As a result of rising Internet usage, PR professionals are choosing email marketing campaigns, social media campaigns, and online advertising to establish public relations for enterprises. These are methods that can be used to run campaigns and collect data. Online initiatives were the most effective during the COVID-19 outbreak as well. As a result, PR management companies have benefited from rising revenues as Internet usage grows.
In addition, public relations services providers are significantly investing in programmatic PR in a digital medium. With the world moving towards digital ways of interaction, artificial intelligence has gained immense popularity to efficiently automate advertisements for the target audience. Public relations management service providers have benefited from enhanced transparency & control with algorithm-based audience targeting abilities.
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Key Takeaways from Market Study
- The global PR management market is projected to expand at 6.9% CAGR and be valued at US$ 131.3 billion by 2032.
- The market evolved at 6.2% CAGR for the period of 2017-2021.
- Under the service segment, social media services lead the market with a share of 19%.
- North America is the leading regional market with 35% share in 2021.
- Use of PR management services is expected to increase at CAGRs of 7.0% and 7.5%, respectively, in Europe and East Asia.
“Improved corporate numbers will escalate the growth opportunity for PR management service providers,” says a Fact.MR analyst.
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The PR management services market has exploded with the presence of various emerging and established market players in the Industry.
- For instance, in September 2022, Finn Partners, a global marketing agency, acquired The Winston Agency. The acquisition will bolster the firm’s social impact and ESG communications.
In addition, are focusing on diverse end-use industries and regions to cope with the intense competition.
Key Companies Profiled
- APCO Worldwide
- Brunswick Corporation
- Daniel J. Edelman Holdings, Inc.
- Finn Partners
- FTI Consulting
- Havas PR Global Collective
- ICF International, Inc.
- Omnicom Group
- Publicis Groupe
- Real Chemistry
- Sunny Side Up Inc
- Syneos Health
- Teneo Holdings
- The Interpublic Group of Companies
- The mc Group
- Vector Inc.
- WE Communications
- WPP plc
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global PR management market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (private PR firms, public PR firms), service (investor relations, social media, public affairs, crisis management, content marketing, corporate communication, media relation, event management, others (not covered elsewhere)), and end-use industry (BFSI, retail & consumer goods, business & consumer services, healthcare, manufacturing, transportation & mobility, energy & utility, media & entertainment, hospitality, others (not covered elsewhere)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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