Advertising plays an imperative role in the market by delivering the information flows and addressing information asymmetries to the customers about new products or deals. Online advertising, also well-known as online marketing, internet advertising, digital advertising, or web advertising is a method of marketing and advertising which utilizes the Internet to convey the promotional marketing messages to customers. Online advertising is delivered by a series of interconnected several platforms that facilitate the matching of advertisers and customers. The increasing habits of individuals towards online portals and social networking sites, which resulted in an augmented the online population and streaming, are the foremost influencing drivers for the growth of the Online Advertising market.
The switch from traditional print media to online advertising is propelled by present technological innovations in communication technologies. Based on the online advertising market research report, the growing number of smartphone users around the globe, increasing number of broadband service providers, and extensive utilization of the internet by innumerable users are generating the growth of the global market for online advertising.
As the generation of appealing banners and advertisements via online sources promises more attention from the consumers, this platform is progressively preferred by innumerable businesses over the world. Also, online advertising can be more expedient and cost-efficient, at the same time offering a wider platform, when associated to traditional advertising utilizing the television and the print media. Alarming degree of addiction to smart devices such as tablets, laptops, and smartphones has also been helping the market growth.
On the contrary, the existence of ad blockers aimed at eradicating the advertisements form users’ webpages might restrict the growth of the global market for online advertising. Moreover, numerous companies are grappling with the issue of transitioning from desktop to smartphone ads. This might also hamper market expansion. However, the growing dependence of individuals on Internet will confirm that the market for online advertising progresses speedily, counteracting the negative impression of this restraint.
Developed regions involving the US, Canada, Japan and Europe, constitute foremost revenue contributors for the global digital advertising and marketing market. Aspects such as huge penetration of connected devices, extremely developed digital ecosystem backed by giant media companies and ICT services providers, and vigorous focus on digital media campaigns among businesses remain the main contributors for growth and progress digital ad market around the developed regions. Per capita spending on connected devices remains high in the developed regions, with a noteworthy portion of consumers buying mid- to high-end devices for several purposes. Products with sophisticated features and functions are prevalent among consumers, and price of the product remains mostly inappropriate as majority of customers are affluent. While consumer prosperity and general inclination towards improved technologies favour broader acceptance of connected devices, active participation of leading electronics producers drives momentum in the market. As penetration of connected devices and customers inclination towards digital solutions remains high, developed regions represent the main markets for digital advertising and marketing, around the globe.
The online advertising industry research report at Ken Research concludes with market projections for future of the industry including reviewed industry size by revenue along with analyst recommendations and foremost market opportunities.
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Ankur Gupta, Head Marketing & Communications