Online Advertising Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Online Advertising Market is expected to grow at a CAGR of 14.3% over the forecast period (2021 - 2026). The Covid-19 pandemic had a positive effect on the Online Advertising Market. The pandemic leads to lockdowns and works from home scenarios; People are not getting out of their houses, which leads to the growth of the online advertising market. People became more attracted onwards online portals and social networking sites, which resulted in increased online population and streaming.

• The COVID-19 pandemic is having a significant impact on various industries, and digital advertising is not an exception. With the COVID-19 pandemic, business owners assess their marketing efforts and wonder if it is the best time to run online ads.
• For instance, According to a report by the Interactive Advertising Bureau, almost 24% of media buyers, planners, and brands paused ad spending until Q2 2020. While nearly 46% indicated, they would adjust their ad spending across the same period.
• As most end users are now operating online with digital gadgets and uncertainty of pandemic to end, many organizations are planning to shift their advertising investment to digital platforms.
• The increasing technological advancements coupled with increasing digital spending by enterprises is expected to drive the online advertisement market over the forecast period.
• Over the years, technological developments regarding the internet, combined with its increasing commercial use and the rapidly growing number of internet users worldwide, have not only shaped the evolution of online advertising and produced different forms of digital advertising but have also given rise to new advertising business models and new market levels and players.
• Additionally, there are different types of advertisements for mobile devices, including click to download, click to call, image text, and banner ads. Moreover, consumers widely prefer smartphone devices over laptops or desktops, owing to convenience and portability. Similar operations can be performed on the former, owing to which mobile platforms are expected to grow lucratively.
• Moreover, the 6-second ad is increasingly gaining popularity on various social media platforms. According to new research by the Advertising Research Foundation, short-form, six-second ads on TV capture 8% to 11% more attention per second than longer ads.

Scope of the Report

Online advertising is a marketing strategy adopted by various organizations, which involves the use of the internet as a medium to obtain website traffic, and target and deliver marketing messages to the right customers.

The scope of the study is currently focused on Global Online advertising. The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry. The study also tracks the impact of COVID-19 on the overall Online advertising Market and its performance. Detailed estimates for the next five years are included, along with the study of the major players and their strategies.

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Key Market Trends

Video Format to Witness High Growth

• With the introduction of new platforms and formats, the possibilities of video marketing are expanding. While spending on traditional television advertising is declining, digital video market spending is increasing.
• According to the Interactive Advertising Bureau (IAB), most of the expenses are allocated to mobile and desktop advertising, amounting to almost two-thirds of the total advertising budget for video ads.
• Wyzowl’s study in the field of video marketing shows that digital video is one of the main trends of 2020. Moreover, video ads capture the attention of the audience better than any other type of ad.
• According to Videology, a video advertising platform, it was found that 46% of the digital video ads viewed were in the length of 15 seconds. Additionally, the share of the cross-screen in the number of digital video ad campaigns in the United States was 98%.
• Moreover, FreeWheel, A Comcast Company, a provider of comprehensive ad platforms, Entertainment and Media, and Consumer packaged goods, accounted for 19% and 15% of video ad views.

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