Source: Research and Markets
ResearchAndMarkets.com has added the “Digital Advertising Global Market Opportunities And Strategies To 2031” report to its offering.
Since 2016, the global digital advertising market has grown at a compound annual growth rate of 18.5%, reaching nearly $486.0 billion (48.6 crore) in 2021. As the market grows at a rate of 15.1%, it is expected to reach $980.2 billion in 2026. A CAGR of 12.8% is then projected from 2026 to 2031 for the market to reach $1793.6 billion.
In the historic period, economic growth in emerging markets was strong, internet penetration increased, government initiatives in developing economies were successful, e-commerce penetration increased, mobile devices became more available, technology rapidly developed, social media usage increased, and COVID-19 had a significant impact.
Market growth will be driven by increasing advertising expenditures by end-use industries, urbanization, and the adoption of 5G networks and the internet of things (IoT). Stringent regulations, intense competition, security challenges, and the localization of data could hinder the growth of the digital advertising market in the future.
In addition to mobile ads (in-app and mobile web), desktop ad, digital TV, and other platforms, the digital advertising market is segmented by platform. In 2021, desktop advertising accounted for 43.4% of the total digital advertising market segmented by platform. From 2021-2026, the digital TV segment is expected to grow at a CAGR of 15.3% as the fastest-growing segment of the digital advertising market.
Ad formats in the digital advertising market include digital display ads, internet paid search, social media, online video, and others. 30.5% of the digital advertising market in 2021 was accounted for by internet paid search, which accounted for the largest segment divided by ad format. From 2021 to 2026, the online video segment will grow at a CAGR of 20.5%, making it the fastest-growing segment in the digital advertising market segmented by ad format.
There are also industrial vertical segments within the digital advertising market, including media and entertainment, consumer goods, retail, banking, financial services, and insurance, telecommunications and information technology, travel, healthcare, manufacturing, supply chain, logistics, energy, power, and utilities, and other industries. In 2021, the banking, financial service, and insurance market accounted for 23.6% of the total digital advertising market. As the digital advertising market segments by industrial vertical, the media and entertainment segment is expected to grow at a CAGR of 18.3% between 2021 and 2026.
Trends in the market
- The demand for interactive advertising is growing
- Digital Advertising and Artificial Intelligence
- The concept of storytelling is on the rise
- Augmented Reality For Digital Advertising
- Conversational interfaces and chatboxes are becoming more popular
- Automated email marketing with personalized content
- Increase In Advertising On Streaming Services
- Expansion of brands through partnerships and acquisitions
The following platforms are available for mobile ads: mobile apps, mobile web, desktop ads, and digital ads on TV.
Advertisers can choose from Digital Display Ads, Internet Paid Search, Social Media, Online Video, or Other Ad Formats.
Vertical analysis of media and entertainment, consumer goods and retail, banking, financial services, insurance, telecommunications, information technology, travel, healthcare, manufacturing, supply chain management, transportation, logistics, energy, power, and utilities, as well as other industries.
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