The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Traditional Radio Advertising Market Size, Growth Rate, And Forecast

The global traditional radio advertising market size is expected to grow from $25.55 billion in 2022 to $26.11 billion in 2023 at a compound annual growth rate (CAGR) of 2.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global traditional radio advertising market size is expected to grow to $28.33 billion in 2027 at a CAGR of 2.1%.

Traditional Radio Advertising Market Drivers

Growing urbanization is expected to boost the growth of the traditional radio advertising market going forward. Urbanization is the process by which cities grow and a growing section of the population relocates there to live. As urban populations grow, residents will look for places to spend their money on durable things like homes and furnishings as well as discretionary purchases like clothing and technology.

Traditional Radio Advertising Market Segments

• By Type: Terrestrial Radio Broadcast Advertising, Satellite Radio Advertising
• By Enterprise Size: Large Enterprise, Small And Medium Enterprise
• By Industry Vertical: Automotive, Financial Services, Media And Entertainment, Fast-Moving Consumer Goods (FMCG), Retail, Real Estate, Education, Other industry verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Traditional Radio Advertising market.

Traditional Radio Advertising Market Key Players

Major competitors in the Traditional Radio Advertising market include Gumas, Sirius XM Radio Inc., iHeartMedia Inc., Entercom Communications Corp., National Public Radio Inc.

The Business Research Company's "Global Traditional Radio Advertising Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.