TheBusinessResearchCompany.com offers Public Relations Global Market Report 2019 from its latest research collection set.
LONDON, GREATER LONDON, UK, August 12, 2019 /EINPresswire.com/ — The public relations (PR) market consists of sales of public relations and related services. Public relations services’ companies manage, design and implement communication between an organization and its customers. Activities of PR firms aims to promote the image of their clients and encourages favorable relations between the client and its stakeholders, such as consumers, government, general public, employees and investors.
The global public relations market was valued at about $63.8 billion in 2018 and is expected to grow to $93.07 billion at a CAGR of 9.9% through 2022. North America was the largest region in the public relations market in 2018. This region is expected to remain the largest during the next five years. The public relations market in North America is forecasted to register the highest CAGR during 2018-2023, followed by Europe.
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Rising need to gain competitive advantage is driving the public relations market. Public relations can unite all functions with a single vision as per the mission of the organization. A well-made, integrated PR plan can connect customers and clients with the organization and creates competitive advantage for organizations. It helps to attract attention and raise the visibility for the product/service.
Stringent data collection regulations such as GDPR (General Data Protection Regulation) prove to be a restraint on the market. These regulations strengthen data protection and privacy of a country’s citizens, regardless of where they live or work. For instance, the companies that collect personal information from EU customers, receive web traffic from the EU, or do business with EU citizens, fall under the ambit of GDPR. GDPR helps customers be aware of the type of data being collected and thus can opt-out or decline to opt-in. The market for PR focuses heavily on the collection, storage and use of personal information for media relations. The data must be collected more cautiously and individuals have the option to not provide their personal information, which could restrain the market for public relations.
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Public relations (PR) companies are increasingly investing in programmatic PR in the digital medium. Programmatic PR refers to the automation of advertising. Increasing volume of global digital communications led to handing over the manual tasks to artificial intelligence. Programmatic PR increases transparency and control and is more efficient as it has better targeting capabilities for audiences. The area of reach is also greater in programmatic PR. For instance, in 2018 Accenture Interactive entered ad-buying world will incorporate the planning, buying and management of programmatic advertisement campaigns. It will also help brands in developing a strategy on attacking programmatic buying. These technological advances will help PR and drive the market further.
Major players in the public relations market include IPG, Publicis, Omnicom, WPP and Prezly.
Public Relations Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides public relations market overviews, analyzes and forecasts public relations market size and growth for the global public relations market, public relations market share, public relations market players, public relations market size, public relations market segments and geographies, public relations market trends, public relations market drivers and public relations market restraints, public relations market’s leading competitors’ revenues, profiles and market shares. The public relations market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Public Relations Global Market Report 2019 from The Business Research Company for information on the following:
Markets Covered: global public relations market
Data Segmentations: public relations market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Public Relations Market Organizations Covered: IPG, Publicis, Omnicom, WPP and Prezly.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2014-18) and forecast (2018-22).
Other Information And Analyses: PESTEL analysis, public relations market customer information, public relations market product/service analysis – product examples, public relations market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global public relations market in 2019 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Public Relations Industry: the report explains a number of strategies for companies in the public relations market, based on industry trends and company analysis.
Opportunities For Companies In The Public Relations Sector: The report reveals where the global public relations industry will put on most $ sales up to 2022.
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Source: EIN Presswire