Global Public Relations Market 2016-2020

Overview of the global public relations (PR) market

Market research analysts at Technavio predict the global public relations (PR) market to grow at a moderate CAGR of around 7% during the forecast period. PR can act as an effective reputation management tool for brands, politicians, public figures, NGOs, hospitals to leverage their strengths in shaping public opinion. The power to reach mass audience is one of the most predominant advantages of PR owing to their enhanced credibility. The importance of PR is increasing significantly across organizations which is helping them to position themselves better among stakeholders. Technavio estimates that an average PR campaign generates 8 times more credibility than an advertising campaign. In the recent times, the scope of public relations is witnessing a dynamic change where the PR professionals are not just responsible for media mentions but also provide a strategic aim to protect the reputation of their brands. One of the latest developments in this market is the growing popularity of digital PR campaigns that are viewed three times more than the traditional ones. These digital campaigns allow campaigners to track the performance and effectiveness of PR through real-time information, which helps companies to plan their future campaigns in a better way.

In terms of geography, the Americas accounted for the majority of the PR revenue in 2015 and will continue to dominate the market during the forecast period. The US alone accounted for around 75% of the total revenue in this region. The huge number of global vendors based in the US is one of the major factors contributing to the high market share of the Americas. The growing use of digital mediums, especially social media, will spur further growth of the market in the Americas in the coming years.

Competitive landscape and key vendors

The global PR market is primarily dominated by global firms such as DJE, IPG, Omnicom, Publicis, and WPP. According to the public relations market statistics report, recovery and growth in the PR market after recession have not only attracted several new players but also provided a huge growth room for the existing market vendors to increase their market shares. Intense competition exists among market vendors as they strive to build credibility with their customers through their quality campaigns.

Leading vendors in the market are -

• DJE
• IPG
• Omnicom
• Publicis
• WPP

Other prominent vendors in the PR market include APCO, Coyne PR, Bell Pottinger, Dentsu, FTI Consulting, Havas, Hopscotch Group, Huntsworth, KREAB, Mikhailov & Partners, MMWPR, Prain Global, Ruder Finn, W2O, and WE.

Segmentation by type of firm and analysis of the PR market

• Private PR firms
• Public PR firms

Based on the  public relations market outlook, private PR firms accounted for more than 59% of the total market share in 2015 and will continue to dominate the market during the forecast period. Much of this segment’s growth comes from the increased freedom these firms have in decision making. These firms have the advantage of making innovations in the PR strategies rather than following a traditional PR approach, which will further augment the growth prospects for this segment over the predicted period.

Segmentation by medium and analysis of the PR market

• Events
• Social media
• Influencer marketing
• Company websites
• TV
• Print

Print is the largest medium for PR and accounted for around 50% of the total market share in 2015. One of the major advantages that the print media offers is that the companies can convey a high degree of professionalism through it. The enhanced credibility associated with the print medium has made it the first choice among PR firms to gain publicity.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global PR market?
• What are the key market trends impacting the growth of the global PR market?
• What are the challenges to market growth?
• Who are the key vendors in the global PR market?
• What are the market opportunities and threats faced by the vendors in the global PR market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global PR market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Public Relation Robots Market 2016-2020
• Public Relations Services - Procurement Market Intelligence 2016