Global Online Advertising Market Expected to Reach US$ 309 Billion by 2023, Driven by its Cost-Effectiveness and Wide Demographic Coverage

In recent times, the global online advertising market has witnessed an exponential growth as it has enabled both small and large businesses to reach the target audience. This has been a result of factors such as cost-effectiveness, wide reach, increasing popularity of electronic devices, growing consumer-base, etc.

According to a recently published report by IMARC Group, entitled “Global Online Advertising Market Report & Forecast 2018-2023”, the global online advertising market was valued at US$ 181 Billion in 2017, exhibiting a CAGR of 14% during 2010-2017. online advertising is a marketing technique that involves the use of internet as a medium for the promotion of products and services by collecting advertising data and targeting potential customers. As it is an inexpensive mode of advertising, it enables small and emerging business companies with limited funds to endorse their products and services covering a large demographic area. Apart from this, the growth in the number of internet users and easy availability of electronic devices have also added to the popularity of internet advertising.

The report has evaluated the growth inducing factors which have accelerated the growth of the market in recent times. Real-time analysis and the measurability of the audience’s response represent the biggest driving factors. Internet advertising helps the companies to assess the audience’s response towards the ad-content which can be recorded by analysing the online behaviour and search patterns. This helps in creating advertisements that cater to the needs and demands of the potential consumers.  All this can be done by spending a meagre price as compared to other forms of media, which would require a hefty budget to track public response towards their advertisements. From the point of the audience as well, online advertising brings inventive and creative ways of marketing different brands. The audience is presented with innovative and interactive advertisements on diverse formats such as sound, video, texts, link, etc. which assures a lasting imprint on their minds. Considering these factors, the market value of online advertising is further expected to reach US$ 309 Billion by 2023.

global online advertising market

The report provides a comprehensive assessment of segmentation of the market. Some of these include search advertising, lead generation, display advertising, rich media, classified advertisements, video advertisements, etc. Apart from this, the key-end users of internet advertising covered in the report are retail, leisure, telecom and automotive, financial services. A thorough evaluation of the market on the basis of key regions is also given. Some of the key regions include North America, Asia Pacific, Western Europe, Eastern Europe, Middle East & Africa and Latin America. Currently, North America represents the largest market for internet advertising. The report has also presented the details of the key players operating in the market such as Google, Amazon, Yahoo, Facebook, AOL, Baidu, Microsoft, Twitter and LinkedIn.

This report provides a deep insight into the global internet advertising industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, key market drivers and challenges, recent trends, Porter’s five forces analysis, internet advertising pricing models, margins in internet advertising, etc. This report is a must-read for entrepreneurs, researchers, consultants, investors, business strategists, and all those who have any kind of stake or are planning to foray into the internet advertising industry in any manner.

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