Advancement in technology along with the rising usage and easy access to the Internet across the world has escalated the global online advertising market in past few years. The advertising firms use the data provided by the client or the user on social media and then choose the target audience accordingly as per their usage pattern. There are several forms of online advertising like email, video, etc.
A few years back, the advertising methods were easier. The brand promotions and advertisements were given in print media, such as magazines and newspapers. But, the reach of these mediums was limited and not focused; albeit the prices of these methods were high. However, with the emergence of the internet and its rising usage, it became a stronger medium that has a better reach with more targeted audiences at much lower costs than print media.
The global online advertising market has turned out to be highly strong on promotional strategy and marketing level. This is credited to the wider reach and simpler ways to get to the targeted audiences. Initially, only the search method was the one that gained traction. However, with the advancement, the companies shifted towards better advertising formats like video, mobile advertising, display ads, etc. Among these, mobile advertising is the leading method contributing to market growth. Due to the impact of the COVID-19 pandemic, the digital advertising industry has also seen a surge. The firm owners have re-assessed their efforts for marketing and checking out for the best solutions.
The global online advertising market is broadly categorized into ad formats, platform, end-user vertical, and region. The ad format segment is divided into the email, video, search engine, social media, and others. In terms of end-user vertical, the market is segregated into retail, automotive, BFSI, healthcare, telecom, and others. On the basis of platform, the global online advertising market is categorized into laptops & desktop, mobile, and others.
Geographically, North America is expected to lead the global online advertising market within the forecast period. The region is trailed by Asia Pacific. This is attributed to the rising scope for online advertising due to the high customer base in the region. Besides, easy access to the Internet is another factor contributing to the growth.
The key players leading in the global online advertising market are SAP AG, IBM Corp., Oracle Corp., Aplicor LLC, Salesforce.com Inc., Adobe Systems Inc., Ebay GSI Commerce, ComScore Networks Inc., Lithium Technologies Inc., Attensity Corp., Demandware Inc., Microsoft Corp., OpenText Corp., LongJump CRM, StrongMail Systems Inc., Zoho CRM Inc., Percussion Software Inc., Yahoo Analytics, Netsuite Inc. SugarCRM Inc., and Sitecore Inc.
A year ago, a well-known social media advertising platform, Smartly.io, had launched new features for its Pinterest solution. In partnership with Pinterest, Smartly.io provided advanced solutions on its platform for the brands to connect with its customers.