In a changing field of marketing, digital advertisement platforms are leading the way, helping businesses effectively engage potential clients across multiple channels. Recent research reveals that 54.2% of marketers now prefer digital advertising over traditional methods, highlighting the growing potential of online marketing channels.
According to a recent report published by market intelligence firm, Straitsresearch, the digital advertising platform market is segmented into platform types, ad formats, and end users. A staggering 7.33 billion mobile users worldwide and the fact that over 52% of website traffic comes from mobile devices further solidifies the dominance of mobile in this market segment, the report shows.
Straitsresearch further highlighted that among the most widely used digital advertising platforms are Facebook, LinkedIn, Instagram, and TikTok. In 2022, social media advertising accounted for 33% of total digital advertising spending, with LinkedIn ads leading the way for B2B marketers seeking connections with professionals. Twitter ads followed closely with a market share of 43.23%, while Facebook ad manager claimed 7.89% and Instagram advertising held 0.27%, the report claims.
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On the other hand, the report revealed that Google ads, Facebook ads, and Instagram ads prevailed as the top three digital advertising platforms across all channels. Approximately 90% of marketers globally utilize Facebook ads for their marketing campaigns, while 87% prefer Google ads and 79% take advantage of Instagram ads.
Additionally, Straitsresearch records that investments in digital advertising are steadily increasing, with global spending reaching $522.5 billion in 2021 and growing to $566.49 billion in 2022. Experts predict that this figure will reach $601.84 billion by the end of 2023 and soar to $695.96 billion in 2024. The trend shows no signs of slowing down, with estimates projecting a staggering $835.82 billion investment by 2026, according to the research.
As businesses shift their focus to online marketing, Straitsresearch is poised that digital advertisement platforms offer an array of benefits, including precise targeting based on demographics and access to various channels such as search engines, social media, and websites.
With the potential for increased engagement and a growing market, digital advertising platforms are revolutionizing the marketing landscape, Straitsresearch reports.