The Digital Advertisement Market Is Expected To Reach Us$ 317.64 Billion By The End Of 2020, North America To Witness The Highest Demand
As the coronavirus outbreak wreaks havoc around the world, infecting more than 3 million people globally, every industry vertical has witnessed an economic slowdown. COVID-19 is known to affect the respiratory system of the patient who is required to be put on a ventilator. However, as precautionary measure usage of personal protective equipment such as hand sanitizers, masks has been promoted extensively in the outbreak of COVID-19. Apart from this, social distancing, lockdown measures across the globe have further impacted the economy worldwide thereby affecting the digital advertising arena. Consumer inclination towards social media, increasing living standards and enhanced internet as well as smartphone penetration, and diversion towards online shopping channels through various shopping applications accredited to ease and convenience has tremendously catalysed the demand for digital advertising across the world. Furthermore, improvement in living standards, rising disposable income and considerable career opportunities lying ahead in digital advertising have further boosted the preference for digital advertisement across the world.
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However, privacy concerns and the outbreak of pandemic COVID-19 since 2019 tend to hamper the growth of the hand sanitizer market across the world. The impact is felt in digital marketing. For instance, 90% of businesses are reviewing budgets for marketing. Email open rates are up, and website visits are down. While retail sales are also expected to witness a fall post COVID era indicating that sellers have to fight for shrunken market presence Digital Advertisement has turned out to be a practice of delivering promotional content to users through various online and digital channels. Digital marketing trends continue to evolve each year as more companies enter the space and new technologies are taking birth in the advertising landscape. Looking ahead to 2020, social media influencers, the video being the top strategy as digital marketers capitalize on users’ short attention spans and desire to stream rather than the read content, artificial intelligence, augmented and virtual reality encompass to be some of the trends that help to continue to shape this domain.
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Also, various established players as well as emerging players have paved their way into the digital advertisement market with the companies aiming to meet the surging demand for online applications and convenience in approaching the product or services. Enhanced productivity, aiming to understand the audience better, effective, and efficient marketing and increase in Return on Investment, has catalysed the market prospects across the globe. Based on ad-format, the digital advertisement market is classified into Search Advertising, Banner Advertising, Social Media Advertising, Video Advertising, and classifieds. While based on programming type, the market is bifurcated into programmatic and non-programmatic type. Based on the platform, the market is segmented into desktop and mobiles. Increasing smartphone penetration, the launch of various user-friendly online shopping apps and booming internet scope has contributed towards the rising share of mobile phones during the period. Lastly, based on industry vertical, the market is classified into Retail, Automotive, Financial Services, Telecom, Consumer Goods, Travel and Others. An increasing number of departmental stores across various regions and quick access to the product in contrast to online channels where the consumers are made to wait for the delivery of the product.
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For a better understanding on the Digital Advertisement demand trend arises due to COVID-19, a detailed analysis was conducted for the major regions; North America, Europe, Asia Pacific and the Rest of the World, including countries such as the United States, Canada Germany, France, Italy, Spain, China, Japan, India, South Korea and Australia and Rest of World. With the growing scope of social media, mobile penetration and exponential rise in advertisement spend, North America currently is expected to lead the digital advertisement field. The region acquires more than a 40% share of the global digital advertisement market. Some of the major players profiled in the Digital Advertisement demand market study include Alibaba, Amazon, Facebook Inc, Alphabet, Microsoft Corporation, Sina, Nokia Corporation, Tencent, Twitter and Apple Inc. These industry players are entering into several mergers & acquisitions and partnerships for the expansion of their reach and increasing their hold on the market.
Digital Advertisement Market Segmentation
Digital Advertisement Market Insights, by Ad-Format
- Search Advertising
- Banner Advertising
- Social Media Advertising
- Video Advertising
Digital Advertisement Market Insights, by Programming Type
Digital Advertisement Market Insights, by Platform
Digital Advertisement Market Insights, by Industry Vertical
- Financial Services
- Fast Moving Consumer Goods
Digital Advertisement Market Insights, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Rest of World
- South Africa
- Rest of World
Top Company Profiles
- Apple Inc
- Facebook Inc
- Microsoft Corporation