Global Digital Ad Spending Market Size By Platform(Mobile, Desktop, Laptop), By Advertising format(Display Ads, Social media, Search Ads), By End-user vertical(Automotive, Healthcare & Pharmacy, BFSI, Retail & e-Commerce), By Geographic Scope And Forecast
Global Digital Ad Spending Market Size By Platform(Mobile, Desktop, Laptop), By Advertising format(Display Ads, Social media, Search Ads), By End-user vertical(Automotive, Healthcare & Pharmacy, BFSI, Retail & e-Commerce), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Digital Ad Spending Market size was valued at USD 410 billion in 2020, and it is expected to reach USD 1250 billion by 2030 followed by growing at a CAGR of 10.2% from 2023 to 2030.
Digital transformation all around the world is one of the biggest drivers of the digital ad spending market. With the latest advancement in the telecommunication industry, users can access high-speed data with the help of 4G and 5G technologies. It has also increased the demand for digital advertising in every sector. The Global Digital Ad Spending Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Digital Ad Spending Market Definition
Think of digital advertising as using the internet to get your message out to the people you want to reach. By investing in digital ads, companies can drive traffic to their website and get noticed. More than that, it can nudge potential customers towards clicking that "buy" button. It's a quick and simple way for brands to connect with the right audience and keep them interested. The money spent on digital ads is a huge deal in the IT world! As more and more of our lives move online, digital advertising has really taken off. Plus, it's created new ways for advertising companies to do business, sparking fresh trends and bringing new players onto the global stage.
So, digital ad spending? Think of it as the money companies spend to advertise online – on everything from phones and computers to tablets and laptops. You'll notice marketing budgets are spread pretty thin these days, across all sorts of media. Keeping track of digital ad spending can tell you where the market's headed. And honestly, the growth in digital ad spending doesn't seem to be slowing down anytime soon. Remember COVID-19? It pushed companies to get smarter about online marketing. Digital advertising actually helped a lot of them bounce back from those losses. Plus, with more and more people online, the demand for digital ad spending is only going up worldwide.
Digital Ad Spending Market Overview
People are spending a lot of time online – over 7 hours a day! When COVID-19 disrupted everything, many businesses turned to digital advertising to stay afloat and reach more customers. So, in a way, COVID-19 gave the digital ad spending market a boost. We saw things improve both during and after the pandemic. Thanks to the latest technological advancements, the digital ad spending market is really taking off, and we expect it to keep growing. Digital platforms are helping companies connect with customers and create engaging content about their business.
Digital transformation all around the world is one of the biggest drivers of the digital ad spending market. With the latest advancement in the telecommunication industry, users can access high-speed data with the help of 4G and 5G technologies. It has also increased the demand for digital advertising in every sector. Digital advertising platforms enable users to interact with online content on multiple devices. The integration of the latest technologies like artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and machine learning with every vertical of the organization has also enhanced the adoption of digital platforms.
However, a lower return on investment can impede the growth in the digital ad spending market. Digital advertising requires a long-term digital marketing strategy which might take months or sometimes years to enjoy the return on investment. Such unpredictable nature of this market has made it difficult for companies to forecast their profits. Besides this, uncertainty may also be created due to a lack of short-term return on investment which can impede the growth in the digital ad spending market.
The digital ad spending market has numerous opportunities to grow in the forecast years. Digitalization and the latest technological advancements are the main reason for elevating more opportunities in the digital ad spending market. Many big companies are going to invest in this market to gain more profit in their businesses. The emergence of advertising in healthcare, automotive, retail & e-Commerce, BFSI, and other sectors has provided lucrative opportunities for growth in this market.
Digital Ad Spending MarketSegmentation Analysis
The Digital Ad Spending Market is Segmented by Platform, Advertising format, End-user vertical, and region.
Digital Ad Spending Market, By Platform
• Mobile• Desktop• Laptop
Different advertisements are available for mobile devices such as click-to-call, click-to-download, banner ads, and image text. Due to the increasing popularity of mobile marketing, the mobile platform is expected to grow more in the coming years followed by the desktop and laptop platforms.
Digital Ad Spending Market, By Advertising Format
• Display Ads• Social media• Search Ads• Video Ads
It can be analyzed that the top companies are spending more on display ads and this segment is dominating the market. With the help of such trends, revenue opportunities are also developing in various companies. Other segments including social media, search ads, and video ads are also expected to grow significantly in the coming years.
It can be analyzed that the retail and e-commerce segment is dominating others and it is expected to grow more. A slow rate of growth is also expected in the healthcare and pharmacy segment. Other segments are also forecasted to achieve better growth including automotive, BFSI, Education, IT & Telecom.
Digital Ad Spending Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East and Africa
It can be analyzed that North America is dominating the digital ad spending market. The reason behind this is the escalation in spending on advertising. However, another region like Asia Pacific is also predicted to experience higher growth during the forecasted period. Besides this, Europe, and LAMEA are also developing their digital ad spending market.
Key Players
The primary players in the digital ad spending market are Microsoft Corp., Google LLC, Facebook Inc., Twitter Inc., Amazon, Alphabet Inc., Meta Platforms Inc., Effective Spend, Omnicom Group Inc., and Power Digital Marketing.
These companies are integrating with the latest technologies to deliver a better solution for advertising all over the world.
Key Developments
In May 2022, the written word media declared to launch Reader Reaches Amazon Ads for authors as well as publishers. It is a data-driven ads solution that can provide a simpler way for the authors by which they can run ads and easily advertise them.
In September 2021, Microsoft advertising also started allowing businesses to show their dedication and align with customer values. This initiative is helping build genuine relationships, and trust with the customers based on exclusive advertisements.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Microsoft Corp., Google LLC, Facebook Inc., Twitter Inc., Amazon, Alphabet Inc., Meta Platforms Inc., Effective Spend, Omnicom Group Inc., and Power Digital Marketing.
SEGMENTS COVERED
By Platform, By Advertising format, By End-user vertical, and By Geography.
CUSTOMIZATION SCOPE
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