Digital advertising is a convenient promotional strategy adopted by companies. Digital advertising is booming globally with digital transformation. The organizations are emphasizing investing heavily in digital ads to boost their business. Digital advertisement has transformed the marketing strategy and spending of a wide range of industries globally.
The hybrid channel purchasing habits are creating several lucrative growth opportunities in the global digital ad spending market. A growing number of people are increasing their spending on digital channels like mobile phones to check social media, read news & blogs, and view streaming videos. Therefore, retailers are boosting their spending on digital ads. Consumers are highly adopting hybrid channels like buy online pick in store, curbside pickup, online shopping, & several similar channels and thereby compelling marketing companies to emphasize more on understanding the buying habits of consumers and increasing their spending in digital ads. Mobile advertising has revolutionized the market by outpacing all other forms of digital advertising. The growing penetration of smartphones along with high-speed internet networks globally is likely to surpass the ad revenue from television advertising.
The widening scope of the media and entertainment sector due to the spike in the number of digital media platforms providing such services will further fuel the growth of the global digital ad spending market. Also, the growing investment in video content is further likely to propel the growth of the market. However, digital video ads are catching the eye of consumers and also offering a high return on investment to companies. All these factors are likely to escalate the growth of the market in the forthcoming years.
The global market can be segmented into enterprise size, ad format, end-user, platform, and region.
By enterprise, the market can be segmented into small-medium enterprises and large enterprises.
By ad format, the market can be segmented into video ads, search ads, native advertising, social media, display ads, and others.
By end-user, the market can be segmented into transportation, government, healthcare, media & entertainment, IT & telecom, automotive, BFSI, retail, e-commerce, and others.
By platform, the market can be segmented into desktop and mobile.
North America accounts for the largest share in the global digital ad spending market due to the growing adoption of digital services by organizations in the region. Furthermore, the presence of a large number of vendors offering such services will also accentuate the growth of the regional market.
Asia Pacific is expected to be the fastest-growing region in the global digital ad spending market due to the growing usage of smartphones and digital services in the region. Also, the growing disposable income of the people will support the growth of the regional market.
Some of the significant players in the global digital ad spending market are Semcon, Vuzix Corporation, Sony Interactive Entertainment LLC, Ltd., Oculus VR LLC, Nokia Corporation, Microsoft Corporation, Manus Machinae B.V., Magic Leap, Inc., HTC Corporation, HP Development Company, Qualcomm Incorporated, L.P., Honeywell International, Inc., Samsung Electronics Co., Google, LLC, and EON Reality, Inc. To cite, AdColony, Inc. in November 2020 partnered with Anzu.io to launch in-game ads solutions across display and video to agencies and brands.
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