The advertising services market size is set to grow by USD 188.92 billion from 2021 to 2026 as per the latest market report by Technavio. The advertising services market industry report projects the market to progress at a CAGR of 5.18%. 35% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for advertising services in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions. The growing popularity of digital media is a growth potential for the digital advertising services market in the region and will facilitate the advertising services market growth in APAC over the forecast period
The market research report segments the advertising services market by Type (Digital advertising, TV advertising, Print advertising, OOH advertising, and Others) and Geography (North America, APAC, Europe, South America, and the Middle East and Africa).
- Revenue Generating Segment – The advertising services market share growth in the digital advertising segment will be significant for revenue generation. Global advertisement spending is expected to exhibit high growth during the forecast period. As the world population shifts toward online media, it is imperative for businesses to target online consumers. The primary drivers for the digital advertisement spending segment are the rising global Internet penetration, growing use of mobile devices, upsurge in the number of user searches, and ongoing digital transformation across industries, which is propelling businesses to expand their online presence.
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- The key factor driving growth in the advertising services market is the growth in in-app advertising.
- The growing popularity of in-app advertisements is one of the major factors driving the global advertising services market. Mobile phone users spend more than 80% of their time on dedicated apps in comparison to the 20% time spent on browsers on their mobile devices.
- The high amount of time spent on apps has attracted advertisers to focus on in-app advertisements for their products and services. Also, this platform helps app developers to generate revenue without having to charge the users to use their apps. In-app advertisements are not only cost-effective but also help in reaching a targeted audience based on the data collected through the apps and cache files. Many brands also engage with their target audience through multiple marketing channels and encourage them to post reviews and provide feedback about their products/services. This way, brands can reach out to their target audience more efficiently. These factors are propelling the popularity of in-app advertising.
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The competitive scenario provided in the Advertising Services Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Advertising Services Market Forecast Report – Buy Now!