Advertising: Key market research findings
- Growing preference for online shoppiong to drive advertising market
- Increasing popularity of QR codes
- Key vendors – American Express, Ford, Pfizer, P&G, and Verizon
Technavio’s industry experts expect the global advertising market to grow at a CAGR of around 6% between 2016 and 2020. The growth of this market is driven primarily by the high competitive advantage brought about through advertising. Effective advertising requires deep research about the target audience and their buying behaviors. With multiple mediums available in the market, advertisers have several options, which help them to target various types of audience. During 2015, the Americas accounted for almost 43% of the overall market share to become the dominant shareholder in the global advertising market. The increasing preference for online shopping among consumers in this region is expected to fuel growth of the advertising market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the advertising segments based on the medium.
“The use of QR codes are becoming increasingly popular in the advertising market. QR codes are quite similar to the standard bar codes except they can store much more information than traditional barcodes. Major US-based businesses that have begun to use QR codes in advertising and promotions include Best Buy, Ralph Lauren, and Pepsi. QR codes are displayed across print ads, in-store displays, and direct mail, linking users to a specific app,” says Ujjwal Doshi, Lead Analyst, Media & Entertainment, Technavio Research.
According to our research analysts, the TV segment will continue its dominance over the global advertising market in 2020 by accounting for more than 35% of the overall market revenue. TV as an advertising platform enables advertisers to promote and create awareness about their products and influence the buying decisions of customers. Since TV is the largest viewed medium globally, advertisers are more attracted to advertising on this platform. Traditional commercial channels and multichannel advertising are the two major types of TV advertising.
The key vendors in the global advertising market include American Express, Ford, Pfizer, P&G, and Verizon. Recovery and growth in the advertising market after recession (post-2010) is attracting new players. It also creates an opportunity for existing players to increase their market reach. However, huge capital requirements and exclusive licensing to a few large players in some countries restrict new entrants into the market. The demand for advertisements depends on the economic condition and corporate profits.
A more detailed analysis is available in the Technavio report, Global Advertising Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
