According to various reports and studies, the global digital advertising market is expected to continue growing in the next few years. The COVID-19 pandemic has accelerated the shift to digital channels, and businesses are expected to continue investing in digital advertising to reach and engage with their audiences online.
Some of the key trends that may impact the digital advertising market in the coming years include:
- Increased adoption of AI and automation: AI and automation technologies are expected to play an increasingly important role in digital advertising, helping businesses optimize their campaigns and improve targeting and personalization.
- Growing importance of privacy and data protection: With the increasing concern around privacy and data protection, businesses will need to be more transparent and responsible with how they collect and use user data for advertising purposes.
- Continued rise of video advertising: Video advertising is expected to continue to grow in popularity, with businesses investing in video content to engage with their audiences across different platforms.
- Increased focus on social media and influencer marketing: Social media and influencer marketing are expected to remain popular channels for businesses to reach and engage with their audiences, particularly among younger demographics.
Overall, the digital advertising market is expected to remain dynamic and evolving in the coming years, with new technologies and channels emerging and businesses needing to adapt to changing consumer behaviors and expectations. Some market numbers
According to a report by eMarketer published in September 2021, the global digital advertising spending is estimated to reach $455.30 billion in 2022, a 21.8% increase from 2021. The report also predicts that digital advertising spending will continue to grow in the coming years, reaching $526.04 billion by 2024.
It's important to keep in mind that these are just predictions and the actual market volume in 2022 may vary based on various factors such as economic conditions, technological advancements, and consumer behavior. IAB Europe Releases Full 2021 AdEx Benchmark Report To Reveal Digital Advertising Market Size
All 28 markets covered in the study have recorded double-digit growth. Seven markets grew above the average growth rate of 30.5%, with a mix of countries from Western and Central & Eastern Europe.
IAB Europe forecast a growth rate of 28.6% for 2021. The markets surged and exceeded expectations to achieve a growth rate of 30.5%, which is the highest growth recorded in the study since 2008. This equated to a total of €21.5bn added to the digital advertising market in 2021. Still headroom for growth
When looking at digital ad spend per head, some key markets still lag behind the European average of €115; Spain for example at €92 and Poland at €38. Video continued strong growth in 2021
Video was a key driver of growth both in and out of social spend. It grew by 46.2% and now accounts for 41% of all display ad spend. Video also now exceeds half of total display spend in three markets; Ukraine, UK and Italy. Programmatic now commands 57% of display ad spend
Programmatic, excluding social, accounts for more than half of display ad spend driven by a move to private market places and adoption in CEE markets.