Global Online Advertising Market Trends, Scope, Demand, Opportunity and Forecast by 2024
Sheridan, Wyoming, USA, March 06, 2020 (Wired Release) IMARC Group According to the latest report by IMARC Group, titled Online Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024, the global online advertising market reached a value of more than US$ 200 Billion in 2018, growing at a CAGR of 12% during 2011-2018.
Also known as web advertising, online advertising refers to one of the most popular means of marketing, which relies on the internet for distributing advertising data about different products and services. It aids in delivering messages and promoting products to potential buyers, thereby expanding the existing revenue. Online advertising includes the utilization of numerous tools and techniques, such as sales, customer relationship management (CRM), e-commerce, e-mail and web analytics, which facilitate an organization in developing and implementing their marketing strategies.
The boosting sales of smartphones, along with the increasing penetration of the internet, represent one of the key factors driving the global online advertising market growth. Furthermore, the rising trend of social media platforms, such as Instagram, Facebook and Pinterest, is escalating the demand for internet-based advertisements worldwide. Other than this, the easy availability of big data and online customer analysis acts as another growth-inducing factor that is projected to fuel the market growth in the coming years.
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Based on types, search advertising is the most popular segment, holding the largest share. Search advertising is followed by lead generation, display advertising, rich media, classified advertisements and video advertisements.The market has also been classified on the basis of the industry into retail, financial services, leisure, telecom and automotive. Currently, retail represents the largest industry, accounting for the majority of the overall market share.Region-wise, North America enjoys the leading position in the global market, accounting for the majority of the global share. Other regions include Asia Pacific, Western Europe, Eastern Europe, Latin America, and Middle East and Africa.The competitive landscape of the market has also been examined with some of the key players being Google, Amazon, Yahoo, Facebook, AOL, Baidu, Microsoft, Twitter and LinkedIn.
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