New York—The b2b media sector will grow 4.9% to $26.60 billion this year, according to the “VSS Communications Industry Forecast” released by Veronis Suhler Stevenson. The increase in the sector is being driven by a turnaround in live and virtual events as well as gains in Web and mobile platforms, according to VSS.
VSS projected that the b2b media sector will post a compound annual growth rate of 5% from 2011 to 2016, when it will reach $34.03 billion. Between 2006 and 2011, CAGR for b2b media was essentially flat.
VSS said the Business & Professional Information & Services sector will grow 7.2% to $204.40 billion this year. The sector will post a 7% CAGR from 2011 to 2016, fueled by growth in business and professional services related to economic, financial, marketing, and scientific and technical Information, as well as technology services, VSS said.
Overall communications industry spending in the U.S. is expected to rise 5.2% this year to $1.18 trillion. It will grow at a 5.2% CAGR from 2011 to 2016.