Advertising Services Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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Technological developments in regard to the rapid growth of internet combined with its increasing commercial use due to the growing number of Internet users across the emerging economies have shaped the evolution of advertising services through different mode of advertising,

- The growing demand for social media advertising services helps to generate immediate results on social media, thereby leveraging the most cost-effective and targeted form of advertising available.

- There is growing on-demand services from digital advertising agencies with the rise of the Internet era, which has led to a divergence of consumer attention away from traditional forms of media toward more digital forms.

- Also, the increasing number of mobile phone users across the emerging economies of the APAC region is expected to drive the online-based advertisement service market growth from the mobile segment.

Key Market Trends

Online Platform is Gaining Traction Due to Emergence of Digital Ads Services

- According to the Accenture 2018 report, the share of buyers' budget allocated to digital and mobile advertising ...
... is now equal to its budget for television and far surpasses that for print. Nearly all ad buyers expect digital advertising to comprise more than 50% of their total marketing budget in two years. Thus, companies are targeting mobile web-based ads on websites by defining a standard ad size, which is likely to boost the market growth over the forecast period.

- Moreover, 2018 saw the rise of the 6-second ads to 10-second, which have become extremely popular on various social media platforms, where 52% of marketing professionals agreed that video was the content that provided the best ROI, driving the growth of the market.

- Furthermore, some of the prominent social media companies, such as Facebook and Google, obtain most of their ad revenue from the increasing social media usage and advertising expense is further expected to drive the market demand.

Asia-Pacific to Register the Fastest Growth During the Forecast Period

- The advertising spending in the Asia-Pacific region is increasing rapidly, owing to the ascending smartphone and internet penetration and consumers' willingness to purchase goods and services online.

- It is encouraging advertisers to run diverse and rigorous campaigns, that is expected to drive the market growth across the region over the forecast period. Moreover, with the plethora of companies having their operation solely based on mobile applications, the companies are redefining their marketing strategies and online promotion of their products and services. Some of the prominent companies, such as Unilever Co. and Nike have already started online advertising in China through Tencent's QQ messaging, Sina.com, and Sohu.com platforms. This is likely to compel other companies to run their advertising campaigns to tap potential consumers.

- China is one of the largest advertisement spending countries across the world. The population across the region are gradually shifting their interest toward mobile applications, as a result of which, the companies are laying high emphasis on in-app online advertising.

Competitive Landscape

The advertising services market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in various advertisement services, new players are increasing their market presence thereby collaborating with the international players in order to expand their business footprint across the emerging economies.

- September 2019 - WPP and InMobi Group have entered into a long-term strategic partnership to build unique benefits for marketers. Leveraging the best of expertise from InMobi Group and WPP agencies, including GroupM and Kantar, the partnership aims to simplify complexity for Indian marketers. The collaboration between WPP and InMobi Group will enable brands to create personalized consumer experiences at scale. Through this partnership, brands will be able to translate up-to-the-moment insights into timely marketing action.

- September 2019 - Omnicom Precision Marketing Group had agreed to acquire a majority stake in Smart Digital GmbH, which is a leading consulting and marketing technology company with a proprietary AI platform and data capabilities powering real-time customer experiences. Smart Digital's technology is able to recognize users across online digital touchpoints and deliver personalized customer interactions in real-time, resulting in more effective marketing and greater ROI.

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