AGAINST predictions in some quarters that the ‘craze’ for digital exposure might soon fizzle out, a recently-conducted research has revealed that the pride of place digital ad presently enjoys might continue for some time to come.
A recent study conducted by new Juniper Research, a marketing research and consulting services firm, revealed that global advertising spend will increase from $407billion in 2022 to $753 billion in 2026, thereby representing a growth of 85 per cent.
According to the research tagged:‘Digital Advertising: Emerging Trends, Key Opportunities and Market Forecasts 2022-2026, a catalyst of such growth will be the mobile in-app, whose revenue will account for 56 percent of global spend by 2026.
The Report also noted that whilst privacy changes from Apple and Google, presently restrict the potential for effective ad attribution, huge opportunities still abound in digital ad.
“The availability of the SKAdNetwork on iOS, for example, is a major opportunity for advertisers to access aggregated data; allowing them to target areas primed for growth, such as child-safe applications,” it stated.
The report predicts that total mobile in-app advertising spend will increase from $201 billion in 2022 to $425 billion in 2026, as brands struggle to win consumer trust. It, however, stressed the need for enterprises to clearly outline their data collection, storage, and usage policies, in order to optimise opt-ins.
Research author Scarlett Woodford expressed the belief that with recent data collection and policy changes by technology giants creating further challenges for mobile attribution, enterprises must adopt a code of best practice to maximise return on advertising spend and support probabilistic attribution models.
It however anticipates an increase from $97billion in 2022 to $142billion in 2026 for desktop advertising spend, despite a diversion of spend towards handheld devices and the implementation of data protection regulation impacting cookie policies.
The research also identified video as a key channel for advertisers, with video ad spend expected to grow by 63 percent over the next four years, as the success of popular distribution channels, such as TikTok and YouTube Shorts, continues to drive demand for video advertising and justify premium charges.
It therefore urges marketers to ensure that video ads are optimised for smart-phone and tablet consumption, in order to maximise return on investment.
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