Global Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

Here is a list of all Microfinance Banks’ USSD Codes in Nigeria.

A Microfinance bank is a type of bank that offers small loans, or microloans, to individuals, entrepreneurs and small...
- Advertisement -

Although the COVID-19 pandemic slowed the growth of digital advertising, online ads are still expected to increase their market share this year. After a sharp fall in ad spending in March, the last few months have witnessed strong growth across all regions, as millions of consumers shifted to websites and webshops from brick-and-mortar stores.

Global Digital Ad Spending to Jump 14% YoY and Hit $395B in 2021
Global Digital Ad Spending to Jump 14% YoY and Hit $395B in 2021 – www.brandspurng.com

According to data presented by Buy Shares, the increasing trend is expected to continue in 2021, with global ad spending growing by 14% YoY to $395bn.

Search Ad Spending to Jump 16% YoY, Social Media Ads Follow With a 15% Increase

In 2017, brands and media buyers spent $251.7bn on digital advertising worldwide, revealed Statista Digital Market Outlook. Over the next two years, this figure jumped by 33% to $335.7bn.

However, the COVID-19 pandemic triggered a sharp fall in ad spending between January and March 2020, as one quarter of media buyers and brands paused their budgets in times of economic uncertainty. Nevertheless, many of them adapted to a new environment where businesses and consumers are getting used to living with COVID-19 and adjusted their budgets in response. As a result, the global digital ad spending is expected to grow 3% year-over-year to $345.9bn in 2020.

Digital advertising spending worldwide from 2017 to 2024, by format (in million U.S. dollars)
- Advertisement -

Global Digital Ad Spending to Jump 14% YoY and Hit $395B in 2021

Digital advertising spending in selected countries worldwide in 2020 (in million U.S. dollars)

Global Digital Ad Spending to Jump 14% YoY and Hit $395B in 2021

Statistics show that ad spending in the classifieds segment is expected to drop by 2.1% YoY to $18.5bn in 2020. By the end of next year, this figure will jump over $19.7bn.

Video ad spending is projected to rise by 4.1% YoY to $27.8bn in 2020. Over the next twelve months, this figure is expected to jump to $30.9bn.

- Advertisement -

Banner ad spending is forecast to hit $58.6bn value next year, a $6.5bn increase year-over-year.

Read Also:  ECOWAS Targets To Ensure Single Currency Execution By 2020

Statista data indicate the search advertising segment is expected to witness the most significant boost in spending, and grow from $148.5bn in 2020 to $172.2bn in 2021, a 16% jump YoY. The social media ad spending follows with a 15% YoY increase to $113.6bn in 2021.

Statistics show the global digital ad spending will continue growing in the following years and hit $447.4bn value by 2023.

Mobile Advertising to Hit Almost 60% Market Share

Recent years have witnessed a surge in the use of mobile phones, which had a significant impact on the digital advertising industry. To keep up with consumer demands, generate higher revenues, and boost their brand name, companies had to create user-friendly mobile ads.

- Advertisement -
Read Also:  PROMASIDOR INTRODUCES CHAT BOT FOR CHECKING OF COWBELLPEDIA RESULT

In 2017, 45% of the total digital advertising spending was generated through mobile devices. Mobile advertising continued growing in the last three years and hit a 55% market share in 2020. Statistics show this figure is set to jump to 57% next year, and by the end of 2022, mobile ads will account for almost 60% of total digital ad spending.

Analyzed by geography, the United States represents the world’s leading digital advertising industry, expected to hit $129.4bn in spending in 2020, a 0.3% drop in a year. However, this figure is forecast to jump by 17% and reach $151.5bn in 2021.

Digital ad spending in China, as the second-largest market globally, is expected to grow by 9% YoY to $77.7bn in 2020. United Kingdom, Japan, and Germany follow with $21.8bn, $15.8bn, and $9.8bn, respectively.

Statistics show the combined ad spending in the top five digital advertising markets is expected to jump by 14.5% YoY and hit $291.5bn value in 2021.

- Advertisement -
Global Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand SpurGlobal Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Global Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand SpurGlobal Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand Spur

Latest News

Fixed Income Market: A Market in Search of a Path

The Fixed Income Market persisted on a bearish tone following continued profit booking across the market. The selloff in...

Market Rebounds, As Investors Gain N45 Billion

Trading activities on the Nigerian Stock Market today (Monday) closed on a positive note as investors sentiment tends towards the Banking and Industry sectors,...

Unilever Overseas Holdings B.V. Acquires More Stake in Unilever Nigeria Worth ₦352M

Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, recently disclosed that one of its major and substantial shareholders, Unilever Overseas Holdings B.V purchased...

Unilever Nigeria Records N1.6m Loss in 2020

Unilever Nigeria Plc has released its unaudited interim financial statements for the year ended 31 December 2020 with a slight growth in revenue to...

Deglobalization, Inequality and Digital Concentration Among Key Trends Shaping the Global Economy in 2021, Say Leading Chief Economists

Accelerating inequality, the market dominance of tech platforms and remote working likely to be the longest-lasting legacies of the crisis Managing responses to...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Global Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand SpurGlobal Digital Advertising Spending to Jump 14% YoY and Hit $395B in 2021 - Brand Spur