Also well-known as web advertising and Internet advertising, online advertising refers to the usage of the Internet for marketing and advertising of products and services. Finding new customers, encouraging the new products, and diversification of revenue streams becomes easy with the usage of online advertising. Paid search or pay-per-click advertising (PPC) is perhaps the most broadly used type of online advertising. Paid search allows an individual to find relevant terms and phrases (keywords), which form the basis of this type of advertising. Paid social advertising is another manner of advertising via the Internet. It is also probable to endure the two types of advertising, in order to reap maximum assistances of these platforms.
The global market for online advertising appears to be extremely fragmented in terms of competition, due to the existence of a large number of market players. A number of Online Advertising Market Major Players have been accepting the mergers and acquisitions, collaborations, and partnerships to boost their profits. Some of the foremost companies working in the global market for online advertising are Google Inc., Adobe Systems Inc., Microsoft Corporation, Yahoo! Inc., AOL, Inc., MobGen B.V., eBay, Inc., LongJump CRM, Hulu, LLC, Facebook Inc., Percussion Software Inc., Twitter Inc., 6s Marketing, Salesforce.com Inc., Netsuite Inc., Zoho CRM Inc., Aplicor LLC, SAP AG, Single Grain LLC, Apple Inc., and Pandora Media.
Automation technologies are speedily emerging into the advertising segment. This is opportunistic for the Online Advertising Market Growth Rate as automated internet advertising has conveyed the benefits, such as efficiency, scale, and low cost, to advertising. The effective growth in adoption of automation technologies can be witnessed across various advertising platforms alike Google and Facebook. For instance, Google has combined advertising automation through automated bidding strategies, automated ad copy, and automated PPC reporting. On the other hand, the Automated Rules by Facebook automatically check users’ campaigns, ad sets, & ads and assist them manage multiple ads they are running at the similar time.
It is anticipated that by the end of 2020, 80% of the internet advertising procedure will be automated and the remaining 20% will entail of the advertising elements that would constantly requirement human connection such as storytelling, brand value, and other experiential tactics. Therefore, the emerging trend of automation technologies in internet advertising is expected to provide numerous opportunities for the Online Advertising Market Revenue.
Whereas, Oman Online Advertising Market is presently placed in early growth stage. Brands and advertisers still hold greater preference for traditional modes of advertisement namely, TV, newspaper and radio. However, the market is observing the considerable transition towards digital advertisement upon analysing the grooming potential of smartphones and internet penetration across the country. Companies are now increasingly adapting the utilization of online social network as a foremost marketing tool. The players are aiming on tapping the large pool of the ‘forever online’ consumers to change them into their clientele. The digital advertising insight is developing at an astonishing pace as media proliferation and technology are together yielding newer manner of connecting with consumers. The market still lacks accurate awareness and understanding concerning consumer behaviour. Online advertising spent is projected to witness sound growth at a CAGR of close to 4% throughout the revenue period.
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Ankur Gupta, Head Marketing & Communications