Global online advertising, spurred by streaming video
MIchelle Clancy ©RapidTVNews | 30-04-2012
The global online advertising market is forecast to reach $84.8 billion by the year 2017, primarily driven by strong contributions from online video and social networking advertising platforms, reveals new analysis from GIA.
Interactive capabilities, more ubiquity and the rise of video has made the Internet one of the most attractive advertising mediums for companies across the globe, according to the researchers. Online video services and social networking platforms such as Facebook and Twitter only add to the market prospects for online advertising as they allow online advertisers running their campaigns on these services to reach out to targeted and most relevant customers.
Rapid proliferation of Internet-enabled mobile devices such as smartphones and tablet PCs, growing penetration of mobile broadband, and subsequent rise in number of mobile Internet users all also bode well for the future of the global online advertising market, as these trends only intensify the need for advertisers to focus their attention and investments on online ad campaigns and promotional efforts targeting mobile users. Mobile platforms allow advertising companies to reach their target customers as they make purchase decisions in real-time, thereby driving their increased attention and investments on this advertising medium.
When it comes to regions, the U.S. is the largest regional market having accounted for a majority share in the total revenue generated for global online advertising market in the year 2011. But Asia-Pacific is the fastest growing regional market, with a 9.96% CAGR expected over the analysis period 2009 through 2017.