The Global Market for Digital Advertising and Marketing in Terms of Spending is Projected to Exceed US$522.8 Billion by 2024

April 03, 2018

Emergence of Mobile Devices as the Preferred Digital Media Platform Drives Growth of Digital Advertising & Marketing, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Digital Advertising and Marketing market. The global market for Digital Advertising and Marketing in terms of spending is projected to exceed US$522.8 billion by 2024, driven by the rapid shift of media spending from traditional to digital, and expanding digital media user base supported by the emergence of mobile devices as the preferred digital media platform.

Digital advertising and marketing, also known as online advertising, Internet advertising, Internet marketing, web advertising or e-advertising, serves a larger number of global audiences leveraging Internet technologies to deliver promotional material through devices that are connected to the Internet, such as smart phones, smart TVs, and gaming consoles, among others. The global media spending is rapidly shifting from the hitherto high cost and relatively low visibility traditional media channels towards the low cost and higher visibility digital media such as internet and mobile. Key factors driving the transformation include the rise of the connected consumer as a result of the rapid penetration of smartphones and tablets; expanding internet user base as well as mobile internet user base; and the faster growth of broadband connectivity in both developed and developing countries. With several advantages such as higher viewer recall retention of digitally displayed messages, consumer-targeting capabilities and sophisticated measurement techniques stacked in its favor, digital advertising services are poised to witness healthy growth in the coming years.

Future growth in the market will be primarily driven by the growing proliferation of mobile devices as the preferred digital media platform, rapid adoption across various industry verticals, improving economic environment, expanding mobile subscriber base, and increasing distribution of films and music online. Continuous shift of users towards digital media and rapid evolution in consumer behavior towards value-based advertising where the target audience are appropriately compensated for their time and attention through loyalty points, free/subsidized content, and various user-friendly tools, are additionally providing impetus to market growth. Overall increase in advertising budgets, generous allocation of budget to online ads, augmented prices for direct response vehicles and branding ads, and an increase in the number of advertising agencies incorporating online media into their integrated campaigns are some of the major factors driving market expansion. Other important factors poised to benefit market prospects in the near term include surging popularity of social media networking that promote improved targeting; increasing trend towards mobile apps offering huge potential for cross-platform advertising; growing prominence of IoT and the resulting growth in connected devices; and robust demand for digital video advertising supported by effective delivery and streaming of ad content.

As stated by the new market research report on Digital Advertising and Marketing, the United States represents the largest market worldwide. Asia-Pacific represents the fastest growing market with a CAGR of 15.2% over the analysis period. Key factors driving growth in the region include steady migration from traditional media channels to the attractive digital medium; growing mobile and broadband penetration; increasing adoption of 4G mobile network technologies; expanding middle class population; changing media consumption habits; growing popularity of Internet-based activities such as online shopping, and spiraling sales of Internet-enabled mobile devices.

Key players in the market include Acxiom Corporation, Alibaba Group Holding Limited, Amazon.com Inc., AOL Inc., Baidu Inc., Conversant Inc., Dentsu Aegis Network, DoubleClick Inc., Eniro AB, Facebook Inc., Google Inc., IAC/InterActiveCorp., InfoSpace Inc., LinkedIn Corporation, Microsoft Corporation, Oath Inc., ONE by AOL, Pandora Media Inc., Sina Corporation, Sohu.com Inc., Tencent Inc., TOM Group Limited, TradeDoubler AB, Twitter Inc., Xaxis, and Yahoo! Inc. among others.

The research report titled “Digital Advertising and Marketing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in terms of Ad spending for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Sweden, the Netherlands, and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Various modes and formats analyzed in the report include Search, Display, and Others.

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