Major players in the digital advertising market are Google Ads, Facebook, Alibaba, Amazon, Baidu, Tencent, Microsoft, Verizon, Twitter, and Sina.
The global digital market is expected to grow from $155.53 billion in 2020 to $179.77 billion in 2021 at a compound annual growth rate (CAGR) of 15.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $281.32 billion in 2025 at a CAGR of 11.8%.
The digital advertising market consists of the sales of advertising services by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities in digital media. Only goods and services traded between entities or sold to end consumers are included.
In May 2019, LinkedIn acquired Drawbridge for $300 million to strengthen its marketing and advertising offerings.Drawbridge is a start-up headquartered in the USA and uses artificial intelligence technology for understanding its customers using machine learning.
LinkedIn will now use this technology for its customers in reaching and understanding the target audience. LinkedIn, headquartered in the USA, is a social networking site that focuses on professional networking and career development.
The digital advertising market covered in this report is segmented by platform into mobile ad (in-app and mobile web); desktop ad; digital tv; others. It is also segmented by ad format into digital display ad (programmatic and non-programmatic transactions); internet paid search; social media; online video; others and by industrial vertical into media and entertainment; consumer goods & retail industry; banking, financial service & insurance; telecommunication & IT sector; travel industry; healthcare sector; manufacturing & supply chain; transportation and logistics; energy, power, and utilities; others.
Technological advancements such as AR (Augmented Reality) are a major trend gaining popularity in the global digital advertising market.These days, advertisers have adopted augmented reality in their advertising strategies to enhance the user experience.
For instance, in 2018, Snapchat, a pioneer in AR ads, started giving consumers the option to display items in a "real-life" environment.These augmented reality ads increase the interaction of the viewer and create a more memorable user experience.
AR ads are more than informative as people will have the ability to interact with the content rather than just viewing it.
The internet user base expansion along with self-service platforms is driving the global digital advertising market.Internet is extensively used for e-commerce, e-learning, social connectivity, media, communication, and file transfers.
According to Internet World Stats, as of June 2020, the number of internet users in the world is 4.8 billion which accounts for more than 60% of the global population. In addition to this, the growing popularity of self-service advertising platforms is also being the main contributor to the digital advertising market. Self-service advertising platforms are providing advertisers more convenience in the placement of their advertisements. The ease of being able to set up and administer their campaigns without the inconvenience of dealing with human intermediaries draws advertisers’ attention towards digital marketing. Therefore, an increase in the internet user base along with self-service platforms is driving the market.
The growing use of ad blockers is expected to hinder the global digital advertising market.Most internet users do not prefer ads as they are not interested in the ad content and block these ads.
According to the Global Ad Blocking Behavior report 2019 by Social Media Today LLC, among all internet users, around 30% now use ad blockers to cut down the interruptive and deceptive promotions that are seen online.This is becoming a constraint to the advertisers in reaching their audience and promoting their business.
Therefore, the rise in the use of ad blockers is expected to limit the market growth.
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