Digital Advertising Market to Gain Significant Growth Driven by Data-driven Advertising and Rise of Influencer Marketing
PRESS RELEASE
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
- Baidu
- Microsoft Corporation
- Amazon Web Services
- International Business Machines Corporation
- Verizon Communication
- Hulu LLC
- Others
Market Analysis
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