• by Wayne Friedman , August 11, 2015

Ovum, a global technology research company, estimates that worldwide traditional TV advertising will climb -- on a compounded annual rate growth basis -- 28% to $224 billion from $174 billion in 2014. Ovum says the annual rate of growth for revenue will climb around 5% over the next five years.

The largest TV market -- North America -- will climb much more slowly 2.4% to $80 billion in 2020. Asia-Pacific will climb 5.8% to $66 billion; Western Europe will add on 2.7% to $34 billion; and Eastern Europe, will grow 2.7% to $8 billion.

The big growth will occur in the Mideast and Africa territories -- growing at a compounded rate of 10.4% to $11 billion by 2020. Latin America will also make big gains, up 8.4% to $26 billion in 2020.

Worldwide TV advertising has seen steady growth since 2010, when it was around $145 billion. At the height of the global recession, in 2009, TV advertising dropped 7% from 2008 to around $130 billion.