Nowadays, internet represents one of the fastest growing media segments with over 3 billion people accessing the world wide web every day. People use the internet through devices ranging from mobile phones and tablets to personal computers. These users belong to a diverse range of geographical locations and demographics, which is a distinctive advantage that internet has over other media such as television, newspapers, magazines, etc. As a result of internet’s wide reaching capabilities, organisations are increasingly moving towards internet advertising in order to promote their services and products. According to IMARC Group’s new report, titled, “Global Online Advertising Market Report & Forecast 2018-2023”, the global online advertising market reached a value of around US$ 181 Billion in 2017, exhibiting a CAGR of around 14% during 2010-2017.
The online advertising market is being driven by a number of factors. It represents a much cheaper tool for advertisement than other media and also has a continuously growing consumer base. Moreover, as a result of the availability of big data and online customer analysis, online advertisements can be targeted at the right customers or audience, thereby making the advertisements relevant and useful. The use of social media advertising has also gained preference in recent years as a result of the growing user base of social media platforms and the increase in time spent by the users on these websites. Other growth inducing factors include sophisticated advertisement placements, advancement in technologies and growth in emerging markets.
The report has segmented the market on the basis of various segments of online advertising. Some of the major segments include search advertising, lead generation, display advertising, rich media, classified advertisements, video advertisements, etc. The report has also analysed the market on the basis of end-use. Some of the key end-user industries covered by the report include retail, financial services, leisure, telecom and automotive. The report has further segmented the market on the basis of key geographical regions covering Asia-Pacific, Eastern Europe, Latin America, Middle-East & Africa, North America and Western Europe. Currently, North America represents the largest market for online advertising accounting for the majority of the total market share. The report has also analysed the competitive landscape covering the key global players currently operating in the market.
This report provides a deep insight into the global online 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, online advertising pricing models, margins in online 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 online advertising industry in any manner.