PUBLISHER: The Business Research Company | PRODUCT CODE: 1414163
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414163
“Digital Ad Spending Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on digital ad spending market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for digital ad spending? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The digital ad spending market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Digital ad spending pertains to the financial resources allocated to digital advertising, encompassing various online marketing strategies utilizing electronic media channels to promote products, services, or companies. This form of advertising involves payment for clicks, impressions, or other interactions aimed at driving traffic to a website or other digital platforms.
Key categories of digital ad spending comprise diverse formats such as display ads, social media, native advertising, search ads, video ads, among others. Display ads, for instance, encompass a digital advertising variant featuring text, images, and a URL guiding viewers to a website for further information or purchase decisions. These ads are deployed across mobile, laptop, and desktop platforms and find application in industries including retail, healthcare, automotive, media and entertainment, education, transportation and tourism, as well as IT and telecommunications.
The digital ad spending market research report is one of a series of new reports from The Business Research Company that provides digital ad spending market statistics, including global market size, regional shares, competitors with a digital ad spending market share, detailed digital ad spending market segments, market trends and opportunities, and any further data you may need to thrive in the digital ad spending industry. This digital ad spending market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The digital ad spending market size has grown rapidly in recent years. It will grow from $0.6 billion in 2023 to $0.67 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The expansion observed in the historical period can be ascribed to heightened internet penetration, widespread proliferation of mobile devices, the exponential growth of social media platforms, advancements in data analytics and targeting capabilities, the continual expansion of e-commerce, and the increased consumption of video content.
The digital ad spending market size is expected to see rapid growth in the next few years. It will grow to $1.05 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be ascribed to the rising prominence of connected TV advertising, the surge in interactive and shoppable ads, the impact of privacy regulations and compliance measures, the growing emphasis on sustainability and social responsibility, and the expansion of emerging markets. Key trends expected in the forecast period encompass the prevalence of programmatic advertising, advancements in ad fraud prevention, the emergence of new ad formats, the integration of content marketing, cross-channel integration, and the increasing integration of artificial intelligence and machine learning technologies.
The anticipated growth in the digital ad spending market is expected to be driven by the increasing penetration of tablets and smartphones. These mobile devices, providing internet access and versatile functionalities such as app usage, video streaming, gaming, and video calling, have become integral to digital content consumption. The rising significance of mobile devices in the advertising landscape, encompassing display ads, videos, social media ads, and in-app ads, has led advertisers to adapt their strategies to engage audiences effectively through these platforms. For example, as of February 2023, Uswitch Limited reported a 3.8% increase in mobile connections in the UK, totaling 71.8 million, compared to 2021. Furthermore, it is projected that 95% of the 68.3 million UK population, equivalent to 65 million individuals, will own a smartphone by 2025. This surge in tablet and smartphone penetration is a key factor propelling the growth of the digital ad spending market.
The digital ad spending market is the escalating demand for video content marketing. Content marketing, a strategic approach focused on creating and disseminating valuable and relevant content, has seen a substantial shift toward video content. Advertisers recognize the effectiveness of video advertisements in capturing audience attention and delivering compelling messages. As of February 2023, a survey by Wyzowl revealed that 91% of businesses adopted video content marketing, marking an increase from the 86% observed in 2022. This surge in demand for video content marketing is poised to fuel the growth of the digital ad spending market.
The prevailing trend in the digital ad spending market is the rapid adoption of advanced technologies. Key players in the market are actively incorporating cutting-edge technologies such as artificial intelligence (AI), augmented reality (AR), virtual reality (VR), machine learning, and blockchain to maintain and strengthen their market positions. For instance, in January 2023, Verizon Media, a prominent US-based technology company, launched the Next-Gen Solutions suite. This innovative suite is designed to deliver relevant ad experiences independently of cookies or mobile app IDs. It employs real-time data signals such as weather, location, and device types to power machine-learning algorithms, connecting advertisers with pertinent audiences without relying on user-level profiles or browser storage. Verizon Media's Next-Gen Buying feature further utilizes machine-learning algorithms to enable advertisers to connect with relevant audiences without the need for cookies, mobile app IDs, browser storage, or the creation of user-level profiles.
Major companies within the digital ad spending market are actively exploring AI-based tools, including advertising testing tools, to broaden their customer base and gain a competitive edge. An advertising testing tool is a software program designed to measure the effectiveness of advertising campaigns. For instance, in May 2022, Kantar, a leading UK-based marketing data and analytics company, introduced Link AI for Digital, an AI tool tailored for testing digital advertising formats. This solution utilizes AI to forecast the in-market performance of digital ads, drawing insights from a dataset comprising over 230,000 survey-enabled ad tests and 30 million real-world interactions.
In January 2022, Smith, a reputable US-based IT services and consulting company, acquired Adept, a digital advertising services company, for an undisclosed amount. This acquisition aims to leverage Smith's expertise to achieve better results and business objectives, allowing both companies to enhance their service offerings and expand their product portfolios.
Major companies operating in the digital ad spending market report are Microsoft corporation, Google LLC, Meta Platforms Inc., Hulu LLC, Ignite Visibility LLC, L7 Creative, Alibaba Group Holdings Limited, Amazon Web Services Inc., Baidu Inc., Coalition Technologies LLC, Dentsu Group Inc., Disruptive Advertising Inc., Effective Spend, Omnicom Group, Publicis Groupe, Tencent Holdings Limited, Adobe Inc., The Trade Desk Inc., Verizon Communications Inc., Twitter Inc., Pinterest Inc., Snap Inc., Roku Inc., Spotify Technology S.A., Expedia Group, TripAdvisor Inc., JD.com Inc., Criteo SA, InterActiveCorp, Datorama Inc., PubMatic Inc., Magnite Inc., Taboola, Outbrain Inc., AdRoll Group, Rubicon Project Inc., Xandr Inc., OpenX, MediaMath Inc.
North America was the largest region in the digital ad spending market in 2023. The regions covered in the digital ad spending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the digital ad spending market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The digital Ad spending market includes revenues earned by entities through audio ads, in-app ads, mobile applications, and email marketing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.