Press release
Kids Digital Advertising Market Set to record exponential Growth 2022-2031
The global kids digital advertising market was valued over US$ 2.9 Bn in 2021
It is estimated to grow at a CAGR of 21.8% from 2022 to 2031
The global kids digital advertising market is expected to surpass value of US$ 21.1 Bn by the end of 2031
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Analysts' Viewpoint on Global Kids Digital Advertising Market Scenario
An increasing number of smartphone users moving toward online shopping indicates economic revival of the kids digital advertising market post the COVID-19 pandemic. The growth of the market can be ascribed to the availability of expected network quality, which provides instant access to information. Advent of the 5G network, along with easy availability of mobile networks such as 4G/LTE for smartphones is anticipated to boost the kids digital advertising market. Kids digital advertisement aims to create a direct link between companies and the customer. Digital advertisement facilitates mass production of goods and increases the volume of sales. It helps to increase the profits of manufacturers, and consumers receive products at a lower price.
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Overview of Global Kids Digital Advertising Market
Kids digital advertising refers to types of communication initiated by a company to promote and support its products, brands, and services through digital channels. These are actions performed by advertisers on various platforms, social networking sites, blogs, web browser applications, or any other form of contact over the Internet. The global kids digital advertising market is also likely to grow, due to use of Internet by kids.
Increase in Use of Innovative Digital Marketing Technologies to Drive Global Kids Digital Advertising Market
Nowadays, companies are spending huge amounts of money on digital marketing, as it helps them build the brand, grow market reach, and improve return on investment (ROI). Presently, children are using social media platforms such as educational apps, Instagram, Facebook, and Snapchat. Therefore, it is easy for digital advertising companies to target kids. Digital marketing companies use various types of advertising such as display advertising, social media advertising, paid search advertising, and broadcast advertising.
In October 2021, according to C.S. Mott Children's Hospital, based on a parent's survey related to children of age group 10-12 years, in the last 6 months, 49% of parents reported use of social media apps, 28% educational apps, and 23% other apps. For kids aged 7-9 years, 32% of parents reported use of social media apps, 50% educational apps, and 18% other apps.
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Surge in Adoption of Smartphones by Kids and Penetration of Internet to Boost Demand for Kids Digital Advertising
The extensive use of technology by children is playing an important role in families, besides the channels they choose to engage in and decisions they make. Rise in adoption of smartphones among kids is expected to boost the kids digital advertising market. Moreover, internet has revolutionized the world, benefiting enterprises, industries, and end users. Increase in use of mobile Internet is a key reason for the rapid increase in the number of mobile applications, which in turn is estimated to fuel the kids digital advertising market during the forecast period.
Digital Platforms to Lead Global Kids Digital Advertising Market
In terms of component, the global kids digital advertising market has been segmented into TV and digital. The digital segment of the kids digital advertising market held a key share of 58.3% in 2021, and will maintain the status quo at a growth rate of more than 23.2% during the forecast period. The digital segment is growing, as digital advertising (promotional material) is carried out through digital platforms including email, social media, mobile apps, search engines, affiliate programs, and websites.
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Rise in Mobile Advertising Due to Wide Reach in Real-time and Ease of Sharing Content
The platform (digital) segment has been classified into mobile, desktop & laptops, and DOOH. The mobile sub-segment dominated the global kids digital advertising market in 2021 with a market share of 66.4%. Furthermore, this segment is expected to register the highest CAGR of 24.2% during the forecast period. Mobile advertising is growing, as it reaches people in real-time situations, and mobile advertising creates content that can be shared and generates data that can be instantly tracked.
Regional Outlook of Global Kids Digital Advertising Market
In 2021, Asia Pacific held 23.8% share of the global kids digital advertising market. The significant share of the region can be attributed to the usage of social media and growing adoption of mobiles, which contributed 23.3% and 63.8% shares respectively to the overall Asia Pacific market. The market in India is likely to grow at a higher CAGR of 26.7%.
The adoption of kids digital advertising in North America and Europe held value shares of 37.3% and 28.9%, respectively, in 2021, of the global market. Social media and video ads are the highest growing ad format (digital) in kids digital advertising in these regions.
South America witnesses a larger adoption of kids digital advertising compared to Middle East & Africa; South America had market share of 4.2% in 2021 and is growing at a CAGR of 22.9%.
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