The global advertising market surpassed a half-trillion dollars in 2014 totaling $525 billion with the top 10 countries accounting for nearly three-quarters of global advertising spend, according to a report from Strategy Analytics entitled Global Advertising Market Forecast Outlook.
The US alone accounted for over a third of global ad spend in 2014, 3.8 times higher than the second largest market, China, and over 16 times larger than Canada, the 10th largest market. Meanwhile China surpassed Japan in 2013 to become the second largest advertising market and will surpass Germany (4th largest market) and the UK (5th largest market) markets combined in 2015.
The US also has by far the largest TV advertising market. In 2014 it was nearly 5 times larger than China, the second largest market.
“While in absolute terms US ad spend continues to grow its share of global advertising it is declining as spend in other regions grows.” said Strategy Analytics‘ Leika Kawasaki. “Despite this, the US remains at #1 in ad spend across all media types and we do not anticipate this changing any time in the foreseeable future.”
Other key findings from this report include:
– Global advertising continued to show strong growth in 2014, expanding 5.3 per cent YoY. In 2015, global ad spend will increase 5 per cent to $551 billion and by year-end 2017 will surpass the $600 billion mark.
– In 2014, the US advertising market was six times larger than the bottom 10 markets combined.
– The bottom 10 markets accounted for only 5.8 per cent of global ad spend.
– The top 10 digital advertising markets accounted for over 81 per cent of global digital ad spend in 2014.