The global internet advertising market was estimated at $319 billion in 2019, and is expected to hit $1,089 billion by 2027, according to new research.
According to the report published by Allied Market Research, this growth represents a compound annual growth rate (CAGR) of 17.2% from 2020 to 2027.
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in growing expenditure on digital media across various industries and surge in popularity of streaming platforms drive the growth of the global internet advertising market. On the other hand, rising adoption of ad-blockers to avoid online advertising restrains the growth to some extent.
However, emergence of advertising automation and rise in adoption of identity-based pay-per-click (PPC) marketing are projected to pave the way for lucrative opportunities in the coming years.
- Increase in use of social media during covid-19 led to rising drift to resort to social media platforms to endorse various media content with the target audience, which boosted the global market for Internet advertising.
- This trend is likely to continue post-pandemic as well, since advertising of the media and entertainment content over Twitter, Facebook, and Instagram has almost become a new drift in the recent time.
The global internet advertising market report is analyzed across platform type, ad format, pricing/revenue model, enterprise size, industry vertical, and region. Based on platform type, the mobile segment accounted for nearly two-thirds of the total market share in 2019 and is expected to rule the roost by 2027. The same segment would also manifest the fastest CAGR of 18.9% during the forecast period.
Based on pricing model, the performance-based segment garnered more than half of the total market revenue in 2019 and is expected to lead the trail by 2027. At the same time, the hybrid segment would manifest the fastest CAGR of 22.7% throughout the forecast period.
Based on geography, North America held the share in 2019, holding around two-fifths of the global market. The market across Asia-Pacific, on the other hand, would cite the fastest CAGR of 21.6% from 2020 to 2027. The report also analyzes the market growth across LAMEA and Europe.
The key market players analyzed in the global internet advertising market report include Google LLC, Baidu, Inc., Amazon.com, Inc., Hulu LLC.., Alibaba Group Holding Limited, Facebook, Inc., Microsoft Corporation, Twitter Inc., International Business Machines Corporation, and Verizon Communications Inc.These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.