Advertising Market is projected to reach USD 1834.2 billion by 2023

Advertising Market Analysis Size, Growth rate and Overview:

Advertising market was valued at USD 932.3 billion in 2018 and is expected to reach almost USD 1834.2 billion by the end of 2023, growing at a CAGR of around 18.64% over the predicted period.

Advertising is defined as a marketing tactic, involving paying for space to promote a product, service, or cause. The goal of advertising is to reach people most likely to be willing to pay for a company’s products or services and entice them to buy. Some of the traditional advertising outlets include newspapers, magazines, radio stations and television.  Today, however, advertisements are placed nearly everywhere and anywhere, including roadside billboards, sides of buildings, websites, electronic newsletters, print newsletters and YouTube video. Advertising messages themselves are designed to persuade an individual to buy a company’s goods or services. Even in business-to-business transactions, individuals have to first be convinced to choose one product over another.

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Advertising Market Key Drivers, Challenges, and Opportunities:

The drivers for the development of global advertising market are a fast moving consumer goods, automobile and e-commerce sectors. Traditional mediums, such as television and print, are still popular amongst advertisers in some regions, which may help to increase the growth. Spending on internet advertising has been consistently rising in a few regions since 2006, which leads to the development of market.Growth is expected in retail advertisement, on the back of factors such as several players entering the food and beverages segment, e-commerce gaining more popularity globally. The telecom sector could see growth as well, driven by better smart phone marketing and service providers cutting down on a price that leads to the development of advertising growth. However, the increasing number of fraud ad agencies globally may lead to the decline of market in the forecast period.

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Advertising Market – Regional Presence:

Geographically, the global market has wide reach in North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is the dominant and fastest growing market due to the tremendous improvement in digital advertisement and population growth in regions like China and India and expected to continue in the future forecast period. North America is the second largest market for the growth of advertises market due to the largest consumer base and clients. Europe and Middle East witness a rapid growth due to the development of new companies and policies by government norms.

Some of the Key Players Profiled in this Advertising Market Report are:

Google, Media.net, Facebook, Microsoft, Amazon.com, AOL, Yahoo, Twitter, IAC, and Amobee

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