However, not all industries might see uniform growth.
Forrester estimates accelerated marketing growth in the post-pandemic era. The growth is predicted to be at a CAGR of 6% between 2021 -2025. For the 2015 – 2019 period, a 5% CAGR growth was observed.
Forrester traces the drivers of marketing growth back to an accelerated shift to digital marketing and the increasing importance of marketing as a function. While the general trajectory for marketing is that of growth, it might not be uniform across industry sectors.
Where interactive media and services will grow at 21% between 2021 – 2025, the energy space could even see a 1% decline. Headroom for growth could be available to “laggard” industry sectors such as travel and leisure, real estate and consumer finance, all of which struggled amid the pandemic.
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[2 minute read]