A new report shows when Asian consumers say yes to advertising and why this region is leading the world in online and smartphone marketing. Going through the research it’s interesting to note that the global digital advertising market is expected to grow from $125.82 billion in 2014 to $220.38 billion by 2019. Over the next 5 years, this market is expected to experience high traction in Asia-Pacific (APAC), Latin America (LA), and the Middle East and Africa (MEA) regions.
In the last century advertising emerged as one of the key elements of marketing strategies for any organization. Earlier, print media was the one and only medium to reach customers at large. With time, technology evolved and so the advertising market space. Advertisers now want new mediums which can provide higher levels of reach with low costs associated. This is the time when online advertising market evolved. Online advertising proved to be a better communication medium for advertisers. As the penetration of Internet or accessibility of Internet increased for advertisers, it became easy to reach prospective customers online.
There are several online advertising formats such as search engine marketing, digital video, mobile applications, and classifieds among others. These formats varied in terms of cost and reach. Search engine marketing is the oldest format, which still accounts for the largest market share. Later, advertisers started using other formats. The adoption of these other formats was primarily driven by evolution of communication technologies and smartphone adoption. The primary reason behind the adoption of online advertising was to optimize cost and increase the number of Leads generated.
The most interesting form of online marketing is mobile, which is growing rapidly. As recent research report says that the global cross-platform and mobile advertising market will grow from $15.13 billion in 2013 to $76.57 billion in 2018 at a CAGR of 38.3% from 2013 to 2018.
While advertising grows so too is the evaluation market. The worldwide web analytics market is estimated to grow from $1.33 billion in 2014 to $3.09 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 18.3% from 2014 to 2019. Companies will benefit from this growth include Adobe Systems, At Internet, Google, Ibm, Microstrategy, SAS, Splunk, Tableau Software, Teradata, and Webtrends.