NEW YORK, May 27, 2021 / PRNewswire / – The digital trend has gained momentum in recent years, benefiting online advertisers. New and engaging apps, tools, and websites are launched every day, and the marketing and media landscape is continually and gradually shifting from offline platforms to online platforms. This creates profitable opportunities to develop online advertising solutions in a more efficient and targeted manner. Persistence Market Research recommends that providers of online advertising solutions provide improved solutions by adopting these advanced technologies.
In addition, with the rapid adoption of smartphones around the world, the way consumers interact with various sellers and brands has changed dramatically, mainly due to the high speed internet readily available on smartphones. In addition, in order to understand the interests and buying habits of consumers, brands are turning to smartphone advertising to drive consumers’ purchasing decisions, thereby increasing the growth of the online advertising market.
The global online advertising market is expected to register a remarkable 14% CAGR during the forecast period (2021-2031).
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Main takeaways from market research
- It is estimated that the demand for social media advertising will increase. However, it is estimated that search engine advertising will continue to hold a significant market share until 2031.
- The travel and hospitality industry is expected to become a high growth market during the forecast period. This is mainly due to the growth of the tourism industry, not only to make purchases through specific web pages, but also to access other technologies such as social media, search engines, etc., to which communication, advertising strategies and sales are directed.
- Depending on the ad format, the web / desktop format is expected to hold a substantial market share during the forecast period. However, the mobile ad format is expected to grow at a higher CAGR of over 15% over the next ten years.
- the South Asia & The Pacific market is expected to register a high CAGR as the proliferation of social media and mobile apps contributes to a strong demand for online advertising in the region. Additionally, apps are gaining in importance due to the growing leniency for smartphones and games, especially in countries such as China, Indonesia, and India.
- The online advertising market Japan and the UK is expected to grow at growth rates of around 17% and 16%, respectively.
- Online advertising sales in the United States are expected to experience strong growth of nearly 10% from 2021 to 2031.
- The Indian online advertising market is expected to grow at a markable CAGR of over 22% through 2031.
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âGlobal spend on online video advertising continues to increase significantly as it positions itself as the ideal medium for brand marketers and advertisers, combining the power and engagement of TV ads with the tracking, interactivity and targeting of online advertising, âsays Persistence Market Analyst.
Search engine advertising and display advertising likely to become the most sought after
Search Engine Advertising (SEA) uses search engines such as Google and Bing. These search engines give the opportunity to rank above organic search results with paid advertisements. Additionally, display advertising focuses on advertising with visual advertisements, often referred to as banners. These come in many different shapes and sizes, and there are many channels they can be used on. An interesting development in this trend is the use of remarketing, where the advertiser approaches groups of users who have visited a website before and already know some things about it. This makes it possible to tailor the message even more specifically to the wishes and interests of a target group. Therefore, search engine advertising and display advertising are expected to play a key role in increasing the demand for online advertising in the coming years.
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More valuable information
The Persistence Market Research report on the Online Advertising Market is segmented into four main sections: Advertising Format (Social Media Advertising, Search Engine Advertising (Including PPC), Email Marketing, Display Advertising , native advertising and others), platform (mobile and web / desktop), vertical (automotive, healthcare and medical, retail and CPG, education, media and entertainment, BFSI, travel and hospitality, telecommunications and others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and assess the lucrative opportunities in this space.
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