Digital Advertising Market Size, Share & Trends Analysis Report By Platform (Computer, Smartphone), By Format (Text, Image, Video), By Offering, By Type, By End-user, By Region, And Segment Forecasts, 2023 - 2030

Digital Advertising Market Size, Share & Trends Analysis Report By Platform (Computer, Smartphone), By Format (Text, Image, Video), By Offering, By Type, By End-user, By Region, And Segment Forecasts, 2023 - 2030

Digital Advertising Market Growth & Trends

The global digital advertising market size is estimated to reach USD 1,154.43 billion by 2030, registering an estimated CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the growing internet and smartphone penetration across the globe, especially across emerging economies. Moreover, the proliferation of social media platforms and their application for advertising products and services is also favoring the growth of the market.

In addition, the increasing adoption of digital advertising for the promotion of e-commerce products and websites through paid online channels is providing lucrative opportunities for the market. The ability to target specific audiences and track the performance of digital advertising campaigns in real-time has instigated their demand among advertisers looking to increase their return on investment.

The growing prominence of video advertising is positively influencing the digital advertising market. Social media and streaming platforms are making video content immensely popular, encouraging businesses to invest in high-quality videos and attract their target audience. Immersive and interactive formats, such as Augmented Reality (AR) ads and 360-degree videos, are gaining massive traction, offering unique and engaging experiences to users.

The market growth is being further proliferated by the growing e-commerce industry, which predominantly uses digital advertising campaigns to reach its target audience and increase its brand visibility. Several e-commerce companies are taking profound steps to improve their offerings in the ads segment, which will drive the growth of digital advertising market further. For instance, in October 2023, Amazon.com, Inc. launched a generative AI-based solution that allows advertisers to simply select their product and click Generate to deliver lifestyle and brand-themed images based on product details in just a few seconds.

Digital Advertising Market Report Highlights

• In terms of platform, the smartphone segment is expected to record a CAGR of nearly 19.2% from 2023 to 2030. This can be credited to increasing internet and smartphone penetration across the globe.
• In terms of format, the video segment is estimated to register a growth rate of exceeding 17.0% through the forecast period with the increased availability of video content through social media and streaming services.
• In terms of offering, the solution segment accounted for the largest revenue in 2022. The growing reliability of businesses on ad services to enhance targeting capabilities, analytics, ad optimization, and performance reporting.
• In terms of type, the search advertising segment held a revenue share of more than 35.0% in 2022 owing to its ability to provide flexibility to create ad text, target customers according to demographics, set budgets, and select the appropriate payment model.
• Based on the end-user category, the retail segment accounted for nearly 17.0% of revenue share in 2022 owing to increased usage of digital channels, such as email, websites, search engines, social media, etc., to promote products and services.
• Asia Pacific is estimated to witness a growth rate of more than 17.0% from 2023 to 2030 with the increased smartphone and internet penetration in the region.

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