Digital Ad Spending Market – Introduction
- The growing digitization is encouraging advertisement companies to adopt digital advertisements that influence more number of customers, resulting in increased digital ad spending internationally.
- The growing digital ad spending market is the result of the increasing adoption of e-marketing across the globe.
- Top companies that provide the platform for digital advertisements are Google, Inc. Facebook, Inc., etc. which are some of the major shareholders in the digital advertisement market in regions such as North America and Europe.
- Most major economies such as India, China, and the U.K. are expected to account for more than 50% of the digital ad spending in the coming years.
Increasing influence of social media expected to drive the digital ad spending market
- The number of social media users have increased significantly in the past few years and are projected to rise further in the coming years.
- Technological awareness and social media influence is the major reason for the population leaning toward social media.
- Major retail companies have also realized that digital ads are the most influencing and convincing due to the adoption of an omni-channel approach for marketing.
- TV ad spending has reduced due to the social media influence which drives digital ad spending in social media.
- This in turn has given rise to adoption of digital ad spending, thus escalating the market growth.
- Moreover, internet marketing, contextual advertising, and programmatic advertising are also expected to have a positive impact on the digital ad spending market.
Implementation of customer centric approach drives the market
- Customers these days have become more digitally conscious due to their increasing participation in social media and because information on the web is easily accessible. Moreover, users nowadays are demanding speed in their daily transactions or online activities.
- Thus, major companies are increasing their investments in the digital ad spending.
- Exceeding customer expectations and providing solutions to implicit customer needs and explicit customer requests are the prime objectives of organizations these days. This obliges organizations to implement improved user experiences in order to engage more customers.
- These factors drive the digital ad spending market globally.
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North America expected to hold major share of the global digital ad spending market
- In terms of region, the global digital ad spending market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America is expected to account for major share of the global digital ad spending market during the forecast period, due to advancements in technology and the introduction of airport biometrics with enhanced customer experience in the region.
- The major shareholder in this region is the U.S. which results in rising share of North America in the digital ad spending market.
- The digital ad spending markets in Asia Pacific and Middle East & Africa are expected to expand at a significant rate during the forecast period.
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