Globally The Digital Advertising Spending in 2020 Was US $378.16 Billion and Is Predicted to Reach The US $455.3 Billion in 2021

Globally The Digital Advertising Spending in 2020 Was US $378.16 Billion and Is Predicted to Reach The US $455.3 Billion in 2021

In 1994, the first online banner was placed, the advertisers have faced many disturbances and there was a requirement to adopt continuously converting technological revolutions, customer trends, and legal conditions.

The first online banner advertisement achieved success with a click-through rate (CTR) of 44%. However, the potential of never-ending innovation of the digital advertising market is the reason for the popularity between start-ups and entrepreneurs. 

Where Digital Advertising makes use of the internet for delivering marketing messages to internet users through various formats. Globally the digital advertising spending in 2020 was US $378.16 billion and is predicted to reach the US $455.3 billion in 2021.

While the research of global advertising expenditure analyzed that, in 2020 it reached the US $586.5 billion. But the prediction highlights that advertising spending globally will achieve the US $691 billion by the year 2023.

Providing promotional content to users through the medium of various online and digital channels and supporting the mediums like a search engine, social media, email, affiliate programs, websites, and mobile applications to share the message and advertise to the public.

The digital advertisement industry involves all revenues produced by business networks like Twitter, LinkedIn, and Facebook.  

This year the digital advertisement spending will reach $455.30 billion. From that, display advertising acquires 55.2%, and the rest 40.2% will go to research. Before 3 years, the gap among search and display was 10 percent point and presently it is 15 percent that is approx. $68.12 billion, it spends much on display than on search.

Prime Industries that contribute actively to the global digital advertising spending market are-

  • Online media
  • Insurance
  • Computer Games
  • Internet providers
  • Legal services

Factors affecting Global Digital Advertising Market-

The growth of the Global Digital Advertising Spending Market is affected by various factors-

  • Extensive Adoption of Smartphones-

Increasingly use of smartphones by people derives marketing and advertising firms. Whereas, digital advertisement on mobiles includes internet sharing advertising spending. Out of $10 ad, $7 goes to mobile advertising.

  • Emerging High-speed internet-

In most cases the internet advertising stimulates online and offline. While online campaigns grow more sales for advertisers.

  • The Proliferation of social media-

Nowadays public is moving away from traditional channels towards digital channels. In this year, brands are spending 33% on the digital platform.

  • The rise in advertising spending on digital media across different industries-

The Retail Industry spends most on digital services. On digital ads, they spend $23.5 billion in 2018, which shows a spent of 22% of total digital ads. 

  • Increase in streaming platform popularity-

In 2020, the entertainment industry and Indian media spend more share on print media.

  • The rise in demand for digital media due to covid-19-

Due to covid-19 pandemic and restrictions on various activities leads to an increase in demand for digital media.

Effect of Covid-19 on Global Digital Advertisement Spending Market-

Due to the spread of the coronavirus, many businesses are facing difficulty in advertising their product and services through traditional methods. Subsequently, businesses are adopting online marketing strategies to promote their product and services and increase the growth of the market. 

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