This growth is driven by the expansion of the internet user base along with the emergence of self-service platforms and new technologies like AR.
According to a Reportlinker.com study, the global digital advertising market is set to grow at a compound annual growth rate of 16.5%, from $60 billion in 2021 to $208.00 billion in 2022. Moreover, the market is expected to reach $354.90 billion in 2026, at a compound annual growth rate of 14.3%.
In 2021, North America was the largest region in the digital advertising market, followed by the Asia Pacific. The projected growth is primarily because of companies rearranging their operations and recovering from the pandemic’s impact on their business. Similarly, the internet user base has expanded in recent times, with self-service platforms on the rise too.
Self-service advertising platforms, in particular, have enabled advertisers to conveniently place their ads, set up and monitor their campaigns. Technologies like AR have also added to the growing popularity of digital advertising. However, the growth of ad blockers is expected to hinder the global digital advertising market.
[4 minute read]