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The growing popularity of social media platforms such as Facebook, Twitter, and others is one of the key factors driving the growth of the global internet advertising market. The global market is likely to be driven by a growing number of social media users. In 2019, social media advertising contributed to around 28% of overall online advertising income, according to the Internet Advertising Bureau (IAB). With various companies planning to implement new business strategies and policies, the supply chain has seen a rapid increase in the number of participants investing in the industry.
In 2020, the global Internet Advertising market earned a significant revenue amount, and it is expected to reach US$ 1,503.2 million by 2027, rising at a CAGR of 24.7 per from 2017 to 2027.
The internet advertising sector is earning a lot of attention as a result of the growing influence of social media around the world. There are around 3.8 billion active social media users worldwide. This has a significant impact on the growth of the global Internet Advertising market. Furthermore, ongoing advertising automation is likely to drive market expansion in the approaching years. Advertisement departments that are required to produce and handle various ad campaigns are freed up by automated advertising platforms, which aim to save time and money. Major players are using machine learning, artificial intelligence, augmented reality, and virtual reality in their advertising platforms. In addition, the number of AR-based advertising platforms is expected to grow as a result of the growing number of companies providing software support for technologies such as augmented reality (AR). Conversely, due to the widespread use of ad-blockers, there is apathy toward internet advertising. Ad-blockers are used by roughly 42.7% of internet users worldwide. Irrelevant marketing messaging, intrusive factors, and an excessive number of adverts are three of the most common reasons for using ad-blockers. These obstacles may stymie the market's steady growth.
Mobile phones, desktop computers, and laptop computers are all available in the market. Mobiles, on the other hand, have a large market share due to the increasing use of smartphones, which allows important industry players to build smartphone advertising solutions. Purchasers like the performance model of advertising because they only have to spend when they see measurable outcomes. Because of the precision and detail, it provides, the search engine type leads the market in terms of ad kind and format. The huge enterprise aids in the identification of the appropriate audience among businesses.
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North America, Europe, Asia Pacific, Middle East & Africa, and South America were included in the global market's regional study. The Internet Advertising market is dominated by North America. In 2019, the total amount spent on online advertising in North America was estimated to be over US$ 125 billion. Furthermore, as compared to other media, the internet advertising business in the region does not suffer as much as other media during a pandemic outbreak. However, due to an increase in internet advertising spending in rising economies such as China, Japan, and India, Asia Pacific is expanding at the fastest rate of around 27%.
In July 2020, Adobe Systems Inc., one of the industry's leading companies, announced cooperation with International Business Machines Corporation (IBM) and Red Hat to help customers enhance their customer experiences. IBM announced the deployment of Adobe Experience Cloud and its corporate apps as part of the cooperation to improve its worldwide marketing. In 2021, Google, LLC, one of the industry's top competitors, debuted Auto Suggest ads, a new ad type for local adverts. This ad type delivers adverts based on the location of the searcher. Other key players doing well in the market are Facebook, Inc., Amazon Web Service, Inc., Baidu, Inc., IBM Corporation, and Microsoft Corporation among others. The global Internet Advertising market is categorized on the basis of the following segments:
Developing economies provide enough opportunities for market giants to expand their operations. The following are a few of the major key players in the global marketplace that holds the majority of the market share: