OVERVIEW OF THE MARKET OF BRAND-RELATED SERVICES
The market for brand-related services in Europe has experienced significant growth over the past decade, fueled by the digital transformation, globalization, and an increased focus on brand differentiation. These services include brand strategy, marketing, digital advertising, brand valuation, and consultancy.
MARKET VOLUME AND GROWTH OF BRAND-RELATED SERVICES
Market Size
The European branding services market contributes significantly to the global market, which was valued at approximately $5.2 billion in 2023. Europe accounts for a substantial portion due to the presence of globally renowned branding agencies and its thriving small and medium-sized enterprise (SME) ecosystem.
Growth Rate
The market for branding and related services in Europe is expected to grow at a CAGR (Compound Annual Growth Rate) of 6.2% from 2023 to 2032, driven by the adoption of digital tools and increasing demand for integrated brand strategies.
Key Component
Digital Advertising is a key component. The European digital advertising market, closely tied to brand-related services, reached €86 billion in 2022, marking a 9.8% increase from the previous year.
KEY TRENDS AND DRIVERS OF BRAND-RELATED SERVICES
Digital Transformation
Businesses are prioritizing digital-first strategies, including social media management, SEO, and e-commerce branding, leading to growth in demand for branding services that offer measurable outcomes.
Purpose-Driven Branding
Consumers in Europe prefer brands that align with their values. Branding agencies are helping businesses craft sustainability narratives, making it a major focus area. The European Union’s single market has encouraged companies to invest in multilingual and multicultural branding strategies.