Published June 9, 2023
Market Scope & Overview
The Digital Advertising Market, as reported by SNS Insider, achieved a valuation of USD 502.79 billion in 2022 and is anticipated to attain USD 1401.39 billion by 2030, with a projected compound annual growth rate (CAGR) of 13.67% during the forecast period from 2023 to 2030.
Digital advertising refers to the practice of promoting products, services, or brands through various online platforms and channels. It involves using digital technologies, such as the internet, mobile devices, social media, search engines, and display networks, to deliver targeted marketing messages to potential customers.
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Major Key Players Included in the Report are:
- Alibaba Group Holdings Limited
- Google LLC
- Microsoft Corporation
- Amazon Web Services
- International Business Machines Corporation
- Verizon Communication
- Hulu LLC
The digital advertising market is influenced by several key drivers that shape its growth and evolution. The widespread availability of the Internet across the globe has significantly expanded the potential audience for digital advertising. As more people gain access to the Internet, advertisers have greater opportunities to reach their target customers online. Programmatic advertising utilizes automated systems and algorithms to buy and sell advertising space in real-time. It streamlines the ad buying process, improves targeting precision, and increases efficiency, making it a key driver in the market. The popularity of online video content has surged in recent years, leading to the growth of video advertising.
Impact of Recession
While a recession may initially lead to a decrease in overall ad spending, the market can still offer opportunities for advertisers to reach their target audience effectively. Advertisers who can adapt their strategies, capitalize on cost efficiencies, and understand the changing consumer landscape are more likely to navigate the challenges posed by a recession successfully.
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While Search Engine Advertising (SEA) and large enterprises segments are expected to dominate the digital advertising market, it’s important to note that the landscape is dynamic and constantly evolving. New players, innovative technologies, and emerging advertising channels can disrupt the market, creating opportunities for smaller businesses and niche segments to gain prominence. Advertisers of all sizes can thrive in the digital advertising space by staying agile, embracing new trends, and delivering compelling and relevant content to their target audience.
Market Segmentation and Sub-Segmentation Included are:
On The Basis of Platform Type
- Desktop & Laptop
On The Basis of Ad Format
- Search Engine Advertising/Search Engine Marketing
- Display Advertising
- Mobile Advertising
- Social Media Advertising
- Video Advertising
- Online Classifieds Ads
On The Basis of Enterprise Size
- Large Enterprises
- Small & Medium-Sized Enterprises
On The Basis of Industry Vertical
- Media & Entertainment
- Retail & Consumer Goods
- Transport & Tourism
- IT & Telecom
Regional Status & Analysis
The Asia-Pacific region is poised to take the lead in the global digital advertising market and is expected to maintain its dominant position throughout the forecast period. This trend can be attributed to a multitude of factors, including the growing reliance of consumers on online sources for information and the substantial amount of time spent by individuals online. As a result, the market in this region is experiencing rapid growth and expansion. One of the key drivers behind the surge in digital advertising in the Asia-Pacific region is the increasing consultation of online sources by purchasers. Consumers are increasingly turning to the internet to gather information, compare products and services, and make informed purchasing decisions.
The future of the digital advertising market is bright, with advancements in technology and changing consumer behavior driving its growth. Mobile advertising, programmatic advertising, video advertising, influencer marketing, data privacy, AR/VR, and voice-activated advertising are among the key areas that will shape the industry’s prospects. Advertisers who embrace these trends and focus on delivering personalized, relevant, and engaging content will have a competitive edge in the evolving digital advertising landscape.
Frequently Asked Questions/ Key Reasons to Purchase this Report
- What is the projected outlook for digital advertising market growth?
- By 2030, the market is projected to reach a staggering valuation of USD 1401.39 billion.
- What are the major factors influencing the digital advertising market?
- The increasing concern over data privacy and regulations, such as the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA), will shape the future of digital advertising.
- Who are the leading players in the digital advertising market?
- Alibaba group holdings limited, Twitter inc., Verizon communication inc., Amazon web services, inc., Google LLC, Baidu, inc., Microsoft Corporation, Facebook, inc., Hulu LLC.
Table of Contents – Major Key Points
- Research Methodology
- Market Dynamics
- Impact Analysis
- COVID-19 Impact Analysis
- Impact of Ukraine- Russia war
- Impact of ongoing Recession on Major Economies
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Digital Advertising Market Segmentation, by Platform Type
- Digital Advertising Market Segmentation, by Ad Format
- Digital Advertising Market Segmentation, by Enterprise Size
- Digital Advertising Market Segmentation, by Industry Vertical
- Regional Analysis
- Company Profiles
- Competitive Landscape
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