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Internet Advertising Evolution: Comprehensive Market Trends 2024
Internet Advertising Market
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According to The Business Research Company's, The internet advertising market size has grown rapidly in recent years. It will grow from $523.31 billion in 2023 to $619.23 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to shift in consumer behavior, social media influence, e-commerce boom.
The internet advertising market size is expected to see rapid growth in the next few years. It will grow to $1178.93 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to regulatory changes, video dominance, global connectivity. Major trends in the forecast period include data analytics and targeting, emergence of new platforms, artificial intelligence integration, mobile-first approach, programmatic advertising growth, native advertising evolution, interactive and immersive content, voice search and smart speakers, cross-channel integration.
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Market Drivers and Trends:
Rising internet penetration is expected to propel the growth of the internet advertising market going forward. The internet has essentially made lives more convenient and more accessible. It has brought the entire world to its fingertips. The internet provides the capability to search for almost any information through a computer, mobile phone, and another personal digital assistant. The internet has changed marketing by creating modern technology ecosystems, customizing and immersive campaigns for consumers. For instance, according to a report published in November 2022 by the International Telecommunication Union (ITU), the United Nations agency specializing in information and communication technologies, the number of internet users reached approximately 5.3 billion in 2022, an increase of 6.1% compared to 2021. , Therefore, the rising internet penetration is driving the growth of the internet advertising market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Alibaba Group Holdings Ltd, Google LLC, Baidu Inc., Microsoft corporation, Amazon Web Services Inc, Facebook Inc, Twitter Inc, Verizon Communication Inc, Hulu LLC, Linkedin, eBay Inc., Yahoo Inc., InMobi Pte Ltd, Smaato Inc, Epom Ltd., Mobvista Co. Ltd., Mintegral International Trading Co. Ltd., Adobe Systems Inc., Disruptive Advertising, Online Optimism LLC, WebFX Inc., SmartSites Digital Marketing Agency, Lounge Lizard Worldwide Inc., Ignite Digital Inc., Thrive Internet Marketing Agency, Titan Growth LLC, SEO Brand, WebiMax LLC, Straight North LLC, Marin Software, Kenshoo Ltd., Acquisio LLC, DoubleClick, AdWords, Bing Ads, Quantcast
Internet Advertising Market 2024 Key Insights:
• The internet advertising market size is expected to see rapid growth in the next few years. It will grow to $1178.93 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%.
• The Impact Of Rising Internet Penetration On The Internet Advertising Market
• Innovative Technologies Drive Transformation In Internet Advertising
• North America was the largest region in the internet advertising market in 2023
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