Trends in the development of global market of advertising services

Abstract

Advertising is the driving force of any business. The internationalization of economic affairs contributes to the formation of the world market of advertising services that, in present time, has been developing as global and digitalized. The authors have set as a purpose of the article the revealing and exploring the trends in the contemporary global market of advertising services under the globalization and digitalization socio-economic megatrends. Methodology and Results: Based on the evolutionary approach to the global market of advertising services, and analysis of the relevant statistical data, the authors have systematized the main trends in the development of the global advertising market as well as have provided some explanation for them. The shifts in global advertising market produced by the COVID 19 global pandemic crisis have also been paid attention to. Besides, the authors have revealed and analyzed the particular directions in the development of global advertising services market within the general trends. Having applied the pragmatic approach to the study, the authors have elaborated some recommendations that, along with the outcomes of the article, may help business to develop its strategies in line of the revealed and systematized trends and particular directions in order to become more competitive at the contemporary global market of advertising services. CZU: 659.13/.16:339.5(100); JEL: F0, M3, DOI: https://doi.org/10.53486/cike2022.12