LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global ad spending market predicts a CAGR of around 5% during the period 2018-2022.
The report segments the global ad spending market by application (digital, TV, print, and OOH), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global ad spending market, according to Technavio media and entertainment researchers:
- Increase in number of ad-exchange platforms: a major market driver
- Incorporation of AR in advertising: emerging market trend
- The Americas dominated the global ad spending market with 43% share in 2017
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Increase in number of ad-exchange platforms: a major market driver
Ad-exchange platforms will be a key driver for the global ad spending market during the forecast period. Various platforms, such as Google, Yahoo, and Facebook, have encouraged RTB-based advertising. Facebook also launched its ad-exchange platform, FBX, to reap the benefits of RTB-based advertising. However, Facebook shut it down on November 1, 2016, to move to the mobile platform. With an increase in the number of visitors logging into Facebook, the global RTB market is expected to experience significant growth during the forecast period, which, in turn, will support the growth of the global ad spending market.
Apart from social media platforms, beacons are an increasingly popular choice for ad spending. Beacons mainly connect and communicate with gadgets through BLE modules and are used to drive promotional offers. These devices help customers receive personalized and relevant information. This is among the most popular forms of advertisement by retailers.
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Incorporation of AR in advertising: emerging market trend
The incorporation of augmented reality (AR) in advertisements is a recent trend witnessed across the advertising industry. The consumption and use of media has changed in the recent years because of advances in AR. In the media and entertainment industry, AR is used for public relations (PR), marketing initiatives for motion pictures, TVs, and other media promotional campaigns.
According to a senior analyst at Technavio for publishing and advertising research, “With the use of AR, marketers are able to offer immersive content to provide an engaging user experience. AR is used in advertisements to demonstrate product features, functionalities, and unique selling propositions. An increasing number of brands are showing an interest in incorporating AR technology in advertising.”
Global market opportunities
The Americas dominated the global ad spending market in 2017, accounting for a revenue share of close to 43%. North America contributed for most of the revenue share in the Americas. The Americas was followed by APAC and EMEA, with APAC emerging as the fastest growing market with an expected growth of 6% during the forecast period.
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