Online advertising is the digital promotion of services and products, commonly through the internet, but also involving the mobile phones, advertisement displays, and many more new digital medium. Online advertising methods likewise search engine optimization (SEO), search engine marketing (SEM), content management, content marketing, campaign marketing, data-driven marketing, display advertising, e-commerce marketing, social media marketing, e-mail direct marketing, social media optimization, e-books and optical disks and games are becoming progressively prominent.
Marketing plays a very energetic role in any organization. It distinguishes one organization from others and assistances to establish that organization as an efficacious brand. Advertising or brand promotion is one of the foremost ingredients for any efficacious marketing strategy. Accurate advertising strategy revolves across the target audience. If the advertising or promotional events are not meeting to the target audience, the results might be catastrophic. In short, advertising or promotional strategies can make or break an organization. This is the casuse why an organization takes advertising decisions very carefully.
Earlier, advertising approaches were simpler. Advertisements or brand promotions were placed in the print media, mostly in newspapers and magazines among others. The levels of reach for such mediums were low. The costs linked were high. Most importantly, it was not certain whether the message will be conveyed to accurate audience or not. With the progression of the Internet or World Wide Web, technologies and advertising strategies improved. As the reach of Internet augmented, it emerged as a robust communication medium which has stronger reach and lower costs as associated with the print media.
Online Advertising Market Growth Rate has emerged as a very strong marketing or promotional strategy. As cited, the reach is enormous, and it is now easier to reach the target audience. Throughout the initial introductory phase, search was the only format which acknowledged very high traction, but with time, organizations moved toward more collaborating advertising formats such as display ads, video, and now to mobile advertising. Mobile advertising is one of the fastest increasing advertising mediums in this online advertising market and has auspicious future.
The online advertising market is extremely competitive, due to the existence of many large players in the market functioning on a global scale. The market appears to be moderately concentrated, with Online Advertising Market Major Players adopting foremost strategies such as mergers, acquisitions, and service innovation. Some of the foremost players in the market are Google LLC, Facebook Inc., and Twitter Inc.
The Asia Pacific is projected to emerge as a significant increasing market for the industry in the forecast duration. The online advertising investment in the Asia Pacific has surpassed Europe, and this augment is propelled mainly by regions like China and other emerging Asian markets, owing to an increasing investment in technology and digital platforms in these regions. The Asia Pacific region is anticipated to witness a significant online advertising market growth rate over the coming years owing the region’s high population density, the developing the penetration of internet, and the growing popularity of smartphones among the population. The Asia Pacific has the greatest population of smartphone users in comparison to other regions. Also, a large proportion of mobile phone users in the region have admittance to social media through their devices. The region, thus, carrying the momentous growth prospects for the online advertising segment.
The effective growth in technological advancements coupled with growing digital spending by enterprises is expected to drive the Online Advertisement Market Size over the forecast period.
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Online Advertising Market Growth Rate
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Ankur Gupta, Head Marketing & Communications
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