| Source: Research and Markets Research and Markets
Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) — The “Digital Advertising and Marketing – Global Market” report has been added to ResearchAndMarkets.com’s offering.
Global Digital Advertising and Marketing Market to Reach $786.2 Billion by 2026
Global market for Digital Advertising and Marketing estimated at US$350 Billion in the year 2020, is projected to reach a revised size of US$786.2 Billion by 2026, growing at a CAGR of 13.9% over the analysis period.
The Covid-19 pandemic resulted in people staying at home and/or working remotely from home, resulting in huge increase in online traffic. The large increases in online traffic provide opportunities for companies to keep their target audience engaged through digital marketing initiatives.
While overall digital marketing spending declined due the pandemic-induced cuts in marketing and advertising budgets during the lockdown , available budgets are being directed at digital marketing initiatives. In addition, advertisers are realizing higher returns on their investments owing to lower competition for advertising space. As a result, the pandemic is driving changes to digital marketing strategies at companies, especially at companies where digital marketing initiatives had relatively low priority.
Clicks and display ads are among the most prominent forms of digital marketing initiatives. Clicks are expensive compared to display ads, as clicks ensure the customer is directed to the advertiser`s website. However, clicks provide a better return on investment.
The declines in digital marketing budgets across the spectrum resulted in lower costs per click. As a result, marketers are gaining more clicks for the same cost. Proactive advertisers with long-term outlook are utilizing the lower costs of clicks to improve their marketing plans and stand to gain the most when conditions improve.
The continued spending on digital marketing initiatives would ensure that such advertisers have a high recall for their products or services when the conditions improve. In addition, the lower costs of digital marketing, as well as the unfavourable circumstances for other marketing and advertising formats is resulting in advertisers exploring and/or increasing their marketing spends on digital marketing.
The U.S. Market is Estimated at $155.3 Billion in 2021, While China is Forecast to Reach $254.9 Billion by 2026
Developed regions including the US, Canada, Japan and Europe, constitute key revenue contributors for the global digital advertising and marketing market.
Factors such as huge penetration of connected devices, highly developed digital ecosystem backed by large media companies and ICT services providers, and robust focus on digital media campaigns among businesses remain the prime contributors for growth and progress digital ad market in the developed countries.
Per capita spending on connected devices remains high in the developed regions, with a significant portion of consumers purchasing mid- to high-end devices for various purposes. Products with sophisticated features and functions are popular among consumers, and price of the product remains mostly irrelevant as majority of consumers are affluent.
While consumer affluence and general inclination towards advanced technologies favour wider acceptance of connected devices, active participation of leading electronics manufacturers drives momentum in the market. As penetration of connected devices and consumer inclination towards digital solutions remains high, developed regions represent the primary markets for digital advertising and marketing, globally.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 311 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/d09are