Growing technological advancements coupled with increasing digital spending by businesses are expected to drive the market over the forecast period.
PORTLAND, PORTLAND, OR, USA, Aug 25, 2021 /EINPresswire.com/ – Increased adoption of smartphones, emergence of high-speed internet, proliferation of social media, growing digital media spending across various industries and Rising popularity of streaming platforms is fueling the growth of the global internet advertising market. On the other hand, the increasing adoption of ad blockers to avoid online advertising is hampering growth to some extent. Nonetheless, the emergence of advertising automation and the growing adoption of identity-based pay-per-click (PPC) marketing are expected to create multiple opportunities in the industry.
The global internet advertising market was estimated at $ 319 billion in 2019 and is expected to reach $ 1.08 trillion by 2027, registering a CAGR of 17.2% from 2020 to 2027.
Based on the pricing model, the performance-based segment accounted for more than half of the global internet advertising market revenue in 2019 and is expected to reign on the roost by 2027, due to increasing demand to shoot the best use of advertising budgets in an increasingly competitive environment. environment in various industries. Simultaneously, the hybrid segment would register the fastest CAGR of 22.7% during the forecast period. This is because the hybrid pricing model for internet advertising allows businesses to more effectively increase the return on their advertising investments through better conversion or greater market reach using the combination of two concepts. advertising in a single campaign.
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On the basis of platform type, the mobile segment contributed almost two-thirds of the global internet advertising market share in 2019 and is expected to maintain its dominance by the end of 2027. The same segment is expected to maintain its dominance by the end of 2027. The same segment is expected to maintain its dominance. also register the fastest CAGR of 18.9%. throughout the forecast period, due to various factors such as increase in number of mobile internet users, growth in popularity of social media and time spent on mobile devices.
Based on geography, North America won the highest share in 2019, holding about two-fifths of the global internet advertising market, due to increased advertiser spending on digital advertising. Asia-Pacific, on the other hand, is said to have the fastest CAGR of 21.6% from 2020 to 2027. In particular, in countries such as India, China and Indonesia, applications are taking a Growing importance due to the ubiquitous use of smartphones as well as gaming. This factor has boosted the growth of the market.
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Covid-19 scenario –
1. The increase in the use of social media during the pandemic has led to an increased drift in the use of social media platforms to promote various media contents to the target audience, which has positively impacted the global health care market. Internet advertising.
2. Media advertising and entertainment content on Twitter, Facebook and Instagram has also become a trend in recent times.
Profiling of key players: Alibaba Group Holding Limited, Google LLC, Baidu, Inc., Amazon.com, Inc., International Business Machines Corporation, Facebook, Inc., Microsoft Corporation, Twitter Inc., Verizon Communications Inc. and Hulu LLC.
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