According to the latest report by IMARC Group, titled “Online Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global online advertising market reached a value of more than US$ 200 Billion in 2018, growing at a CAGR of 12% during 2011-2018. Online advertising, also known as internet advertising, is a marketing technique that involves the use of the internet as a medium to distribute advertising data and target potential consumers. It includes display ads, contextual ads, media ads, networking ads, emails, pop-ups, paid search and spyware. As it is an inexpensive mode of advertising, online ads enable small and emerging businesses with limited funds to promote their products and services over a large area. Nowadays, real-time bidding (RTB) and programmatic media buying are also gaining traction in the digital advertising market.
The number of internet users tripled from 1 billion in 2005 to more than 3 billion at the end of 2015. The rising internet penetration across the world, along with the reducing costs of mobile devices, has added to the popularity of mobile advertising. Moreover, online advertising helps organizations to assess the response of the audience towards the ad-content by analyzing its online behavior and search patterns. This analysis assists in further creating advertisements that are tailored to potential consumers. From the audiences’ viewpoint, internet based ads are gaining popularity as they utilize inventive and creative ways of marketing, often using social media platforms, which creates a lasting impression on the minds of the viewers. Owing to this, the leading companies are opting for online ad formats to promote their brands. Looking forward, the market is expected to grow at a CAGR of 9% during 2019-2024, reaching a value of US$ 338.3 Billion by 2024.
- Based on types, search advertising is the most popular segment, holding the largest share. Search advertising is followed by lead generation, display advertising, rich media, classified advertisements and video advertisements.
- The market has also been classified on the basis of the industry into retail, financial services, leisure, telecom and automotive. Currently, retail represents the largest industry, accounting for the majority of the overall market share.
- Region-wise, North America enjoys the leading position in the global market, accounting for the majority of the global share. Other regions include Asia Pacific, Western Europe, Eastern Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has also been examined with some of the key players being Google, Amazon, Yahoo, Facebook, AOL, Baidu, Microsoft, Twitter and LinkedIn.
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