Study: Search & Social Predicted to Drive 67% of Global Ad Growth by 2020
October 10, 2018 | Contributed by: Courtney Dobson
Digital advertising channels continue to dominate the global ad market. In 2017, for the first time ever, global digital ad spend surpassed TV advertising. In terms of the market as a whole, a recent forecast expects a global ad marketing expansion of 4.5% this year and 4.2% in each of the next two years. And it’s no surprise that digital avenues are expected to lead this growth.
According to Zenith’s Advertising Expenditure forecast, social media and search are projected to account for 67% of global ad growth by 2020, contributing $28 billion and $22.4 billion, respectively. The internet display ad market, which in addition to social includes banners and online video, is expected to increase by over $44 billion from 2017-2020.
As the shift to digital advertising transpires and grows, in addition to paid search and social, marketers should expect and prepare for developments in all realms of the digital advertising landscape, including artificial intelligence and machine learning, voice search, video advertising, mobile marketing and more.