Digital Advertising Market Assessment Covering Growth Factors and Upcoming Trends
Research report presented by UnivDatos, Emphasis on Platform (Desktop, Mobile); Programming Type (Programmatic Type, Non- Programmatic Type); by Ad Format (Search Advertising, Banner Advertising, Social Media Advertising, Video Advertising, Classified Advertising); Industry (Retail, Automotive, Financial Service, Telecom, CPG Industry, Tour & Travel, Other industry) and Geographical analysis (key regions and countries).
Digital Advertising has become one of the fastest e-commerce solutions available worldwide. Increasing smartphone penetration, the growing influence of social media and the surging scope of artificial intelligence and robotics has considerably driven the demand for such time of marketing in the new era. Digital marketing is primarily an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet that may include mobile phones, display advertising, and any other digital medium. The digital marketing industry has introduced various digital marketing channels which helps marketers target the right audience and attract them towards the product or service being marketed. Digital marketing has necessitated the need for a brand to create a solid online presence. Since the Internet allows for near-instantaneous feedback and data gathering, digital marketers nowadays constantly focus on optimizing and improving their online marketing efforts by adopting various platforms ranging from email marketing, search engine marketing, affiliate marketing, influencer marketing, social media marketing, PPC and online advertising.
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Cost-efficient, better exposure, time efficiency, social currency and brand building are some of the major benefits digital marketing is composed of. However, with the coronavirus pandemic leading to a significant economic slowdown, it has also impacted the digital advertising demand. For instance, search ad spending in China declined between 7.0% and 12.4% in H1 2020. The pandemic has impacted various spheres of businesses. It has been observed that most of the business except for those engaged in essentials, many of them are at standstill and enterprises are also cutting back on costs. The virus has brought most scheduled digital marketing plans to a grinding halt or slowed them down. The impact is felt in digital marketing. For instance, 90% of businesses are reviewing budgets for marketing. Email open rates are up, and website visits are down. While retail sales are also expected to witness a fall post COVID era indicating that sellers must fight for a shrunken market presence. Despite the fact, digital marketing seems to be strong. It has been observed that over 2 million coronavirus related pages came into existence between 25th March and 6th April and 100, 000 pages are added each day. Prominent brands are also encouraging social distancing in their ads by emphasizing hygienic practices.
The pandemic has impacted various spheres of businesses. It has been observed that most of the business except for those engaged in essentials, many of them are at standstill and enterprises are also cutting back on costs. The virus has brought most scheduled digital marketing plans to a grinding halt or slowed them down. The impact is felt in digital marketing. For instance, 90% of businesses are reviewing budgets for marketing. Email open rates are up, and website visits are down. While retail sales are also expected to witness a fall post COVID era indicating that sellers must fight for their shrunken market presence. Despite the fact, digital marketing seems to be strong. It has been observed that over 2 million coronavirus related pages came into existence between 25th March and 6th April and 100, 000 pages are added each day. Prominent brands are also encouraging social distancing in their ads by emphasizing hygienic practices.
Insights Presented in the Report
“Amongst Ad format, Search Advertising is expected to dominate the global Digital Advertising Market”
Based on ad- format, the digital advertising market is classified into Search Advertising, banner advertising, social media advertising, media advertising, video advertising and classifieds. It has been observed owing to ease of use, low budget way to reach the right audience has driven the preference for search advertising form of digital advertising. It held a 42.8% market share in 2020.
“Amongst Programming type, Programmatic advertising constitute to be the prominent type of digital advertising”
Based on programming type, the digital advertising market is bifurcated into programmatic and non-programmatic type. It has been observed that programmatic advertising held maximum share owing to greater transparency, ability to tackle ad frauds effectively and enhanced targeting capabilities. The market is anticipated to reach US$ 502.8 Billion by 2026.
“Amongst Platform, Mobiles are anticipated to hold the maximum share digital advertising market during the analyzed period”
Based on the platform, the market is classified into desktop and mobile applications. In 2020, the mobile advertising market was valued at US$ 183 Billion. Increasing smartphone penetration, the launch of various user-friendly online shopping apps and booming internet scope has contributed towards the rising share of mobile phones during the period.
“Amongst Industry Verticals, Retail sector is expected to hold maximum share in the Digital Advertising Marketduring the forecast period”
Based on industry verticals, the market is classified into retail, automotive, financial services, telecom, Consumer Goods, Travel, and others. The omnichannel approach adopted by the retail sector in digital marketing as it helps to map the customer’s journey and results in inconsistency in every turn along with widespread applications of customer service chatbots being embraced by retailers has led to the prominence of the sector.
“Amongst Countries, the United States holds the maximum share in digital advertising
For a better understanding of the digital advertising demand trend, a detailed analysis was conducted for the major regions such as North America, Europe, Asia Pacific, and the Rest of the World. North America occupied the maximum share in the digital advertising market in 2019. With the United States witnessing the marked shift in dynamics over the last decade due to surge in digital advertising accredited to significant growth in mobile internet advertising along with digital ad spending in the country exceeding US$ 100 billion in 2018 has catalyzed the regional performance in the respective market.
Top 10 Competitive Players
Some of the major players operating in the market include Alibaba, Amazon, Facebook Inc, Alphabet, Microsoft Corporation, Sina, Nokia Corporation, Tencent, Twitter and Apple Inc
Customization Options:
The global Digital Advertising Market can further be customized as per the requirements. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.