According to the new research report "Contextual Advertising Market by Type (Activity-based Advertising, Location-based Advertising, Others), Deployment (Mobile Devices, Desktops, Digital Billboards), Industry, Approach, and Geography - Global Forecast to 2023", The contextual advertising market is expected to be worth USD 125.79 billion in 2018 and is likely to reach USD 297.68 billion by 2023, at a CAGR of 18.80% between 2018 and 2023. The growth of this market is driven by increasing number of social media users, personalized marketing strategies, and growing trend of mobile advertisement among others.
Based on type, activity-based advertising is expected to account for the largest share of the overall market in 2018. Activity-based advertising is a type of contextual advertising that is done based on users’ browsing history and cookies. This type of advertising typically comprises graphics, logos, pictures, and texts, among others. These advertisements appear on webpages, e-mails, and instant messaging (IM) applications.
Based on industry, the market for the consumer goods, retail, and restaurants industry is expected to register the highest growth rate during the forecast period. The growth of this market can be attributed to the wide use of digital advertising in the consumer goods, retail, and restaurants industry. In addition, digital marketing is used in the consumer goods and retail industry to improve marketing services, enhance customer intelligence, manage trade promotions, and optimize prices, and for loyalty marketing. In addition, rising purchasing power of consumers is driving the growth of the market.
Based on deployment, mobile devices are expected to account for the largest market size in 2018. Mobile advertising platforms help promote products and services. These help attract customers to particular products and services. As mobile internet has evolved, advertising methods on mobile devices have also witnessed a major change. Earlier, mobile advertising meant just informing customers about products through SMS.
North America holds the largest share of the contextual advertising market owing to the strong presence of key players offering advertising technologies in this region. North America is expected to hold the largest share of the global market in 2018, while the market in APAC is expected to witness the highest growth during the forecast period. The high growth of the market in APAC can be attributed to the presence of countries such as China, Japan, and India in this region. These countries have a large number of internet users, which, in turn, creates huge opportunities for advertisers.
Varying standards of regulation policies and selection of relevant digital techniques and vendors pose challenges for manufacturers in the contextual advertising market. Major vendors in the market are Google (US), Media.net (Dubai), Facebook (US), Microsoft (US), Amazon.com (US), AOL (Austria), Yahoo (US), Twitter (US), IAC (US), and Amobee (US). These players have adopted various strategies, such as product launches and developments, contracts, acquisitions, partnerships, and business expansions, to cater to the of the market.
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