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Digital Ad Spending Market
Increase in penetration of tablets and smartphones, and technology implementation in enterprises are key factors drives the growth of digital ad spending market
ALBANY , NY, US, October 22, 2021 /EINPresswire.com / -- Transparency Market Research delivers key insights on the global digital ad spending market . In terms of revenue, the global digital ad spending market is estimated to expand at a CAGR of ~14% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global digital ad spending market.
Digital advertising is the process of delivering promotional content to users through numerous digital and online channels such as affiliate programs, social media, search engines, mobile apps, email, and websites to show advertisements and messages to consumers or audiences. The six main types of digital ads include video, display, native, social media, search, and email marketing.
The growing digitization is encouraging advertisement companies to adopt digital advertisements that influence more number of customers, resulting in increased digital ad spending internationally. The rising trend of augmented reality becoming progressively social & collaborative, along with the rapid penetration of smartphones and tablets, is expected to offer several growth opportunities to the digital ad spending market during the forecast period.
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Digital Ad Spending Market: Dynamics
Digital advertisement companies are focused on providing customized ads as per the audience viewing behaviour. The rise in the adoption of smartphones among end users is expected to boost the digital ad spending market. Internet has revolutionized the world benefiting enterprises, industries, and end users. The increase in the use of mobile Internet is a key reason for the rapid increase in the number of mobile applications , which, in turn, is estimated to fuel the digital ad spending market during the forecast period.
For instance, according to Interactive Advertising Bureau (IAB), the U.S. mobile internet advertising revenues accounted for 70.7% of the digital ad spending market in 2020. It is expected to increase at a rate of ~24% on a yearly basis.
The expansion of the market can be evaluated by the availability of expected network quality, which provides instant access to information. The advent of 5G, along with easy availability of mobile networks such as 4G/LTE for smartphones is anticipated to boost the digital ad spending market. For instance, as per the GSM Association, two-thirds of the global population subscribed to mobile services in 2020. Additionally, half of the population were using mobile Internet, i.e. 4 billion mobile Internet subscribers in 2020.
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Digital Ad Spending Market: Prominent Regions
North America is expected to hold a major share of the global digital ad spending market in 2021, owing to the emergence of new channels, platforms, and formats, including OTT content, podcasts, and augmented reality, and smartphones. The presence of a large number of digital ad spending players and the high consumer demand led by high consumer disposable income are anticipated to support the demand for digital ad spending in North America in the upcoming years. The U.S. is expected to be a significant contributor to the digital ad spending market in North America. Europe is projected to contribute substantial market share during the forecast period, owing to the demand from media and entertainment and retail & eCommerce sectors during the forecast period.
However, the digital ad spending market in Asia Pacific is projected to expand at a robust pace during the forecast period. Asia Pacific is expected to witness the highest CAGR with major dominance by China, Japan, South Korea, and India by the end of the forecast period. Rise in penetration of technology, proliferation of mobile, social media, and mobile apps as well as significant investment in digitalization of each sector across countries such as India, China, Japan, and Brazil is anticipated to offer lucrative opportunities for providers of digital ad spending in the near future. South America and Middle East & Africa are expected to be high growth potential regions of the global digital ad spending market during the forecast period.
The rising economic growth in European countries such as France and the U.S. after a decline in COVID-19 cases is anticipated to generate revenue opportunities for stakeholders in the digital ad spending market. This trend is predicted to lift different advertising channels and formats such as digital video, social media, and the out-of-home. The analysts at Transparency Market Research (TMR) expect a double-digit growth in digital ad spending, whereas traditional mediums including national radio and TV are estimated for a single digit growth.
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Digital Ad Spending Market: Key Players
Key players operating in the global digital ad spending market are Alibaba.com, AdColony, Inc., Adknowledge, Amazon.com, Inc., Apple Inc., Applovin Corporation, Baidu, Inc., Chartboost, Inc., Facebook Inc., Google LLC, IAC (InterActiveCorp), Microsoft Corporation, MMedia Group Ltd., Sina Corporation, Taboola, Inc., Tencent Holdings Ltd., TubeMogul, Twitter, Inc., Unity Technologies, and Yahoo! Inc.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Rohit Bhisey
TMR
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