LONDON, March 09, 2023 (GLOBE NEWSWIRE) -- According to The Business Research Company's research on the digital advertising market, the growing internet user base, along with self-service platforms, are major drivers of the global digital advertising market. E-commerce, e-learning, social connectivity, media, communication, and file transfers are all common uses for the Internet. According to Internet World Stats, the global internet user population was 4.8 billion as of June 2020, accounting for more than 60% of the global population. Furthermore, the rising popularity of self-service advertising platforms is a significant contributor to the digital advertising market. Self-service advertising platforms are making it easier for advertisers to place advertisements. Advertisers are drawn to digital marketing because it allows them to set up and manage their campaigns without the hassle of dealing with human intermediaries.
The global digital advertising market size will grow from $178.2 billion in 2022 to $185.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 3%. The size of digital advertising market is then expected to grow to $209.4 billion in 2027 at a CAGR of more than 3%.
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AR (augmented reality) is a major trend that is growing in popularity in the global digital advertising market. Advertisers are increasingly incorporating augmented reality into their marketing strategies in order to improve the user experience. For example, Snapchat, a pioneer in AR ads, launched a studio in 2021 to assist clients in developing augmented reality advertising and experiences as part of an effort to popularize the use of technology that can overlay computer-generated images over a person's current perspective of the world. AR advertisements are more than just informative because people will be able to interact with the content rather than simply viewing it.
The global digital advertising market is segmented by platform into mobile ad (in-app and mobile web), desktop ad, digital TV, other platforms; by ad format into digital display ad (programmatic and non-programmatic transactions, internet paid search, social media, online video, other ad formats; by industrial vertical into media and entertainment, consumer goods & retail industry, banking, financial service & insurance, telecommunication IT sector, travel industry, healthcare sector, manufacturing & supply chain, transportation and logistics, energy, power, and utilities, other industrial verticals.
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North America was the largest region in the digital advertising market in 2022. Asia-Pacific was the second-largest region in the global digital advertising market. The regions covered in the global digital advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Digital Advertising Market Global Report 2023 by The Business Research Company provides insights on the digital advertising market share, digital advertising market segments, digital advertising industry trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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