Organic Expansion To Run Through The Online Advertising Market
The digital trend has been gaining momentum over the past years, thereby benefiting in online advertisers. New and attractive apps, tools, and websites are launched every day, and the marketing and media landscape is continuously and progressively shifting from offline to online platforms. This creates profitable opportunities to develop online advertising solutions in a more effective and targeted fashion. Persistence Market Research recommends that online advertising solution providers could offer improved solutions by adopting these advanced technologies. Additionally, with rapid adoption of smartphones worldwide, the way consumers interact with various sellers and brands has significantly transformed, mainly because of easily accessible high-speed Internet on smartphones. Also, in order to understand consumers’ interests and buying patterns, brands are switching to smartphone advertisements to stimulate consumer purchase decisions, thereby augmenting market growth for online advertising. The global online advertising market is estimated to register a note worthy CAGR of 14% during the forecast period (2021-2031).
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Key Takeaways from Market Study
- Demand for social media advertising is estimated to surge. However, search engine advertising is estimated to continue to hold a significant market share through 2031.
- Travel & hospitality sector expected to emerge as high-growth market during the forecast period. This is mainly due to rising tourism industry, not only to make purchases through specific web pages, but also to access other technology such as social networks, search engines, etc., to which communication, advertising strategies, and sales are directed.
- By ad format, the web/desktop format is estimated to hold substantial market share during the forecast period. However, the mobile-based ad format is expected to expand at a higher CAGR of over 15% during the next ten years.
- The South Asia & Pacific market is expected to register a high CAGR, as the proliferation of social media and mobile apps is contributing toward high demand for online advertising across the region. Moreover, apps are gaining importance due to increasing indulgence in smartphones as well as gaming, especially in countries such as China, Indonesia, and India.
- The market for online advertising in Japan and the U.K. is expected to surge at growth rates of around 17% and 16%, respectively.
- Online advertising sales in the U.S. are anticipated to witness strong growth of close to 10% from 2021 to 2031.
- The Indian market for online advertising is projected to expand at are markable CAGR of over 22% through 2031.
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Search Engine Advertising and Display Advertising Likely to Become Most...
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