Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Digital Ad Spending Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global digital ad spending market is poised for impressive expansion, set to increase from $0.53 trillion in 2022 to $0.6 trillion in 2023, with a remarkable Compound Annual Growth Rate (CAGR) of 12%. This growth comes amidst a complex global landscape shaped by the Russia-Ukraine war, which has disrupted economic recovery from the COVID-19 pandemic.
The war's effects, including economic sanctions, supply chain disruptions, and rising commodity prices, have caused inflation across various sectors. The digital ad spending market is projected to achieve substantial growth, reaching $0.93 trillion by 2027, fueled by a robust CAGR of 11.7%.
Navigating the Landscape with Insights and Innovation: Amidst these challenges, the research report offers profound insights into the digital ad spending landscape. The report provides an in-depth analysis, covering global market size, regional shares, competitive landscapes, detailed market segments, trends, opportunities, and more.
Technological Transformation and Market Evolution: The market is characterized by rapid advancements in technology, with major companies introducing innovative solutions to maintain their competitive edge. Leading the charge is Verizon Media, a US-based technology company that recently launched the Next-Gen Solutions suite in January 2023. This suite offers advertisers relevant ad experiences independent of cookies or mobile app IDs, harnessing content and real-time data signals such as weather, location, and device types. This innovation is powered by machine-learning algorithms that seamlessly connect advertisers with the right audiences without relying on user-level profiles or browser storage.
A similar pursuit of innovation is demonstrated by Smith, a US-based IT services and consulting company, which acquired Adept, a US-based advertising services company specializing in digital advertising, in January 2022. This strategic move enhances both companies' abilities to provide high-quality services and broaden their product offerings.
Global Dynamics and Promising Horizons: The report delves into the regional dynamics of the digital ad spending market, covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. Notably, North America emerged as the largest region in the digital ad spending market in 2022.
Powering Growth through Mobile Devices: One of the driving forces behind the market's growth is the increasing penetration of tablets and smartphones. As these devices become integral to daily life, advertisers are leveraging them to engage consumers with digital content, including display ads, videos, social media ads, and in-app ads. The Pew Research Center reported in April 2021 that mobile device ownership in the US reached 97% among adults, with smartphone ownership alone jumping to 85% compared to 35% in 2011. This trend underscores the rising importance of mobile devices in the advertising landscape.
Key Questions Answered:
- Where is the largest and fastest growing market for digital ad spending?
- How does the market relate to the overall economy, demography, and other similar markets?
- What forces will shape the market going forward?
Companies mentioned in this report include:
- Microsoft Corporation
- Google LLC
- Meta Platforms Inc.
- Alibaba Group Holdings Limited
- Hulu LLC
- Ignite Visibility LLC
- L7 Creative
- Amazon Web Services Inc.
- Baidu Inc.
- Coalition Technologies LLC
- Dentsu Group Inc.
- Disruptive Advertising Inc.
- Effective Spend
- Omnicom Group
- Publicis Groupe
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $0.6 trillion |
| Forecasted Market Value (USD) by 2027 | $0.93 trillion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/nzatng
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