Digital Advertising has reached a whole new high with new social media platforms being created each year that host millions of users across the globe. In 2020, we saw the rise of TikTok. In less than a year, the app has more than 2.3 billion all-time downloads and 100 million users in the U.S. alone. With a growth rate that large, it makes sense to see such an increase in digital advertising over the next five years. This digital advertising market report dives so deeply into the growth rate for advertising online and predicts the outcome for the next five years.
When COVID-19 became a global pandemic, it was evident that advertising companies needed to use more of their advertising budget online. Therefore, the market continues to grow and become a high priority when the budget is being sorted each year. That being said, ReserchandMarkets.com recently published an article called, “Digital Advertising Expected to Remain A Strong Priority In 2021,” on the digital advertising market and its fruitful future in 2021.
As consumers started to spend more during lockdowns, the digital advertising market grew, rising more than 24% during that period. That growth was reflecting a shift by many advertisers into an accelerated rate of at-home advertising in response to the pandemic. However, this growth is expected to continue, and strengthen, in 2021. Though the expected growth is due to strengthen in 2021 due to the COVID-19 vaccines and slow return to pre-pandemic times, advertisers are warned to be cautious. After all, it took almost 8 years to fully recover after the previous recession.
On Globalnewsire.com, they explained that the “common trends facing the U.S. and global markets include a continued higher spend on digital media which is expected to account for over 50% of total spend as well as an expected increase in cinema advertising if movies return to theatres in 2021.” Even without a large return to movie theater gatherings, there will be an increase in spending for digital advertising come 2025. Read on to learn more about Digital Advertising and ResearchandMarkets’ predictions for the future of online advertising.