Global ad spends growth is set to slow next year as the global economy weakens and geopolitical uncertainty continues.

Growth is forecast to fall to 3.9% next year and 2.1% in 2021. That compares to growth of 5.7% in 2018 and 4.8% this year.

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That still means the total global ad market will about to $628bn in 2020, and close to $700bn when direct mail and directories are included.

TV spend is expected to increase by 1.8% next year, slower than the global average and meaning its market share will decline. Internet-related advertising is forecast to grow by 11% in 2020 and account for 52% of global spend.

By 2025, 80% of marketers who have invested in personalisation will abandon their efforts due to a lack of ROI, the challenges of customer data management, or both.

More than a quarter (27%) of marketers believe data is the main obstacle to personalisation because of weaknesses associated with data collection, protection, and integration.

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Personalisation comprises around 14% of marketing budgets, on average. But more than one in four marketing leaders cite technology as a major hurdle to personalisation.

Source: Gartner