Online advertising is a marketing approach entails the use of the internet as a medium to attain website traffic and deliver marketing messages to the right consumers. It is also known as digital advertising which is used to formulate usage of cyberspace to publish the ideas & intentions of launching a product or service,brand for the masses to bridge easily. It assists vendors to promote their products & services to a miscellaneous range of geographical locations & demographics. The online advertising industry is expected to be informative or the promotions,that is mostly used for standardizing the message to customers. Some of the other associated benefits of the online advertising are measurability, targeting, speed, coverage and formatting etc.
According to study, “Online advertising Market” includes some of the major companies that are currently working in the online advertising market are Amazon.Com, Inc.,Quora Inc., Facebook Inc., Aol, Inc., Google LLC, Baidu Inc., IAC/InterActiveCorp., Microsoft Corp., Linkedin Corp., Yahoo Inc., Twitter Inc.IBM Corp., Oracle Corp., SAP AG, Salesforce.com Inc., Adobe Systems Inc., Aplicor LLC, ComScore Networks Inc., Lithium Technologies Inc., Ebay GSI Commerce, Demandware Inc., LongJump CRM, Attensity Corp., OpenText Corp., Percussion Software Inc., StrongMail Systems Inc., Zoho CRM Inc., Netsuite Inc., SugarCRM Inc., Sitecore Inc. The online advertising companies collects data about user’s personal information &initiating personalized, targeted advertisements that are useful for the customer. In addition,on commercial companies including large & small scale to be very energetic on the aforementioned social media platforms acquiring more consumers and appreciate a user’s behavior with data mining technique.
Based on format, online advertising market is segmented into display advertising, mobile advertising, lead generation, in-app advertising, classifieds advertising, rich media, digital video advertising and others (rich media advertising & lead generation advertising). Based on delivery methods, the market is divided into interstitial (text ads), email advertising (chat advertising), display advertising, Search engine marketing (SEM), Adware and content marketing. Display advertising is defined by web banner advertising that includes trick banners, floating ad, frame ad or traditional banner, trick banners, pop ups or pop unders etc.
Based on the compensation methods, market is divided into CPM (cost per mile), CPE (cost per engagement), CPC (cost per click), CPV (cost per view),attribution of ad value, CPI (cost per install) and fixed cost. Based on vertical, the market is split into education, Banking, Financial Services & Insurance (BFSI), automotive, healthcare, industrial, retail, media & entertainment, Consumer Packaged Goods (CPG), transport & tourism, telecommunication & Information Technology-Enabled Services (ITES) and others.
The online advertising market is primarily driven by shift from print media to online advertising, followed by time spent online and evolution of communication technology. Apart from benefits, some of the challenges & restraints include flexibility issues and lack of communication between publisher & advertiser. Additionally, few of other opportunities associated with the market are advertising through mobile applications, video advertising or video streaming and social media.
In 2018, the global online advertising market was value USD 200 billion moreover during the forecast period it is estimated that the market to reach US $338 billion, by 2024.The regular technical advancement coupled with the ascending digital spending is anticipated to drive the online advertising market over the forecast period.
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Ankur Gupta, Head Marketing & Communications