Social Media Advertisement Global Market Report 2022

(MENAFN- GlobeNewsWire - Nasdaq)

New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- announces the release of the report 'Social Media Advertisement Global Market Report 2022' -
(Tik Tok), Advance Publications, Inc.
(Reddit), and Sina Corp (Sina Weibo).
The global social media
advertisement market
is expected to grow from $111.97 billion in 2021 to $130.53 billion in 2022 at a compound annual growth rate (CAGR) of 16.6%. The market
is expected to grow to $201.36 billion in 2026 at a compound annual growth rate (CAGR) of 11.4%.
The social media
advertising market
consists of sales of social media
advertising by entities (organizations, sole traders, partnership) that are promotional activities to connect with the audience to build the brand, increase sales, and drive website traffic on social media
.Advertising refers to communication with the consumers of a product or a service.
Social media
advertising or market
ing includes generating and sharing content on social media
s such as Facebook, Twitter, and Instagram to accomplish market
ing and branding goals.
The main types of social media
advertisement are microblogging, photo sharing, video
sharing, and other types.Microblogging is a combination of instant messaging and content production.
The devices used are mobile, personal computers, or laptops. The various end-user industries include healthcare, automotive, retail, telecom, BFSI, and other end users.
The North America market
was the largest region in 2021.The Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in social media
advertising market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Growing internet penetration coupled with increasing social media
users contributed to the growth of the social media
advertising market
.The tremendous growth in the number of social media
users worldwide is encouraging advertisement and market
ing companies to focus on social media
s to advertise their products and services.
For instance, according to TheNextWeb, a Netherlands-based media
company in January 2019, internet users across the globe were 4.38 billion with 57% penetration in the total population in 2019. Moreover, social media
users increased to 3.48 billion in January 2019. Therefore, rising internet penetration together with the growth in the number of social media
users across the globe is projected to propel the revenues for the social media
advertising market
over the forecast period.
Stringent regulations imposed by the government
of various countries are expected to limit the growth of the social media
advertising market
in the coming years.The stringent regulations imposed by regulatory bodies make it difficult for a social media
advertising company to operate and function smoothly.
For instance, in May 2019, lawmakers in Singapore proposed stringent regulations to control fake news published on social media
and internet platform
s, which in turn is likely to impact the revenues generated by these channels.This move is expected to stimulate India to introduce similar regulations.
This scenario is projected to hamper the expansion of the social media
advertising market
over the upcoming years.
The advancement in technology
is a major trend in the social media
advertising market
.Social media
is likely to experience an increase in the adoption of technologies such as virtual reality (VR) and augmented reality (AR).
These technologies help a social media
advertising company enhance its product appearance to attract more users.For instance, Sephora, a France-based retail company has incorporated AR features on its Facebook page to enhance user experience.
Through this, a user can try different products and know if they work. This advancement will draw more audiences and affect social media
advertising positively.
In December 2019, Sprinklr, a US-based software company has acquired the social advertising business of Nanigans for an undisclosed amount.Nanigans social advertising business is a perfect complement to Sprinklr's platform
for customer experience management.
This acquisition is expected to be the company's definitive powerhouse in brand social advertising and managing annual ad spending of $1.5 billion on social media
channels such as Facebook, Twitter, and Instagram. Nanigans is a US-based performance advertising software company.
The countries covered in the social media
advertising market
are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Read the full report:
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