BANGALORE, India, Oct. 7, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Online Advertising Marketby Type (Search Engine Marketing, Display Advertising, Classified, Mobile, Digital Video, Lead Generation, Rich Media), by Application (Automotive, BFSI, CPG, Education, Healthcare, Industrial, Media and Entertainment, Retail, ITES)and Region – Global Forecast to 2026", published on Valuates Reports.
The global Online Advertising market size is projected to reach USD 235760 Million by 2026, from USD 193200 Million in 2020 at a CAGR of 21.0% during 2021-2026.
Major factors expected to increase the growth of the online advertising market size are technological developments and rising digital spending. Online Advertising plays a critical role in all brands and companies. Online Advertising helps distinguish one company from others and aid in brand popularity.
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TRENDS INFLUENCING THE ONLINE ADVERTISING MARKET SIZE
Developments in the purchase of programmatic ads, the use of AI, and tremendous spending on digital advertising have contributed to the growth of the Online Advertising market size. In emerging economies, digital advertising spending on mobile social media channels provides marketers with successful targeting alternatives and enhanced conversion monitoring as these channels respond to consumer preferences.
Pay per click and search engine optimization have emerged as major trends in the industry and are, in turn, expected to drive the growth of the Online Advertising Market size. This high adoption of Pay per click and search engine optimization is due to cost-effectiveness.
North America is expected to hold the largest Digital Advertising market share during the forecast period. North America's dominance is attributed to the rapidly growing investments associated with digital advertising, especially online advertising. Moreover, in terms of mobile use and online interaction, the area consists of highly conscious and mature users, which generates many opportunities for advertisers.
The Asia Pacific is expected to witness the highest growth rate during the forecast period. India and China are the major markets in this area due to their growing adoption of technology, extensive urbanization, and industrialization. As a number of market participants, such as the food and beverage industry, enter the terrain, the Online Advertising Market's growth in this area is further reinforced.
The global Mobile Advertising market size is projected to reach USD 51300 Million by 2026, from USD 41600 Million in 2020, at a CAGR of 21.6% during 2021-2026. The U.S. will grow 20% to over $70 billion and will be an astounding 75% of all digital ad spend, according to eMarketer in 2018.
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