Digital Advertisement Market to Reach US$ 626 Billion by 2026, Globally: UnivDatos Market Insights
28 November 2020: A comprehensive overview of the digital advertisement market is recently added by UnivDatos Market Insights to its humongous database. The digital advertisement market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. Furthermore, this innovative report makes use of SWOT and Porter’s Five Forces analyses to get a closer outlook on the digital advertisement market. Furthermore, the digital advertisement market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the digital advertisement market at the global and regional levels. Global Digital Advertisement Market is expected to grow at a CAGR of 7.7% from 2021-2026 to reach US$ 626 billion by 2026.
Digital advertising has gone from an uncertain bet to serving as the primary platform for most organizations’ marketing. Across the globe, digital advertising continues to significantly grow year over year on an annual revenue basis, with total spending reaching over US$ 300 billion in 2020, as per UnivDatos analysis. Digital advertisement has become an indispensable tool for publishers, ad tech vendors, ad agencies, and brands to develop their corporate strategy, product plans, for sales and planning.
According to recent studies, it is found companies spent on the digital advertisement has been increasing constantly over the traditional advertisement. This will become a crucial inversion of how advertisers collect their resources, and the rise of interest in digital media while platforms are aiming at consumers’ attention. According to other similar research, such a tendency for digital ads will become only more evident with the coming future. For instance, by 2023, digital advertising will take about two-thirds of whole advertising spending.
According to the WPP-owned media buying firm, GroupM, not taking into account online advertisements sold by old media outlets such as broadcasters or news publishers, digital marketing is expected to be half of the global advertising industry’s US$ 530 billion in 2020.
The mandatory lockdown imposed by several countries across the world to contain the spread of Coronavirus spread. This lockdown changed many things including, the way people work, communicate, spend their time, among others. During this difficult time companies are looking for less pricey alternatives to traditional methods of marketing to lure customers, digital advertising offers all such benefits to companies, what they are looking for during coronavirus quarantine.