This is the summary of articles by Paul Chapman from Companiesandmarket.com, and Kristen Schweizer from Bloomberg.com. Both articles talk about the strong growth of online advertising, and in particular, the fastest growing region in the online advertising market is the Asia-Pacific region. Here are the links to the original behavioral targeting articles: Online Advertising Market Showing Strong Potential in Asia-Pacific and Asia-Pacific To Pass North America As Biggest Ad Market In 2014.
According to recent reports, online advertising is set to flourish more than ever, with some even predicting that by 2017, the industry would reach almost 85 billion in US dollars. Indeed, these forecasts indicate that the Internet is proving itself to be a thriving platform for online advertisements, with effective campaigns being done through various sites and social networks.
Notably, the Asia-Pacific is emerging as a promising region for the online advertising market, due to the numerous businesses — large and small — that are turning to cyberspace for the promotion of their products and services. Regardless of size, many companies from the region have begun to invest in online advertising and the possibilities it could bring for their enterprises.
The Largest Market
In terms of size, the region which accounts for the largest share in online advertising is the United States, based on global revenue figures for 2011. It was also noted that the major contributors to the industry were telecommunications and finance companies, as well as some retail advertisers in the country. This is no surprise, as many people subscribe to mobile phone and Internet services all over the US.
The Fastest-Growing Market
In terms of growth rate, however, the Asia-Pacific is observed to be the fastest-growing region. The search market is seen as the primary contributor, with analysts predicting a compound annual growth rate of 9.96% for the years 2009 to 2017.
A Promising Region
Likewise, reports also state that soon, the Asia-Pacific will become the largest market in online advertising, overtaking the US and even the entire North America. By the year 2014, it is estimated that up to US$173.2 billion will be spent on online advertising in the Asia-Pacific region. This exponential growth could be due to the greater increase in consumer spending, particularly in India and China.
What’s more, companies all over the region have been putting more of their money into the digital media and related markets. Clearly, they are seeing the vast potential of the online media in reaching out to their consumers. They have come to realize that as more and more people use their personal computers, laptops, tablets, and smartphones everyday, the possibilities for promoting their businesses online are virtually limitless.
Aside from simply announcing a new product or service, online advertising has the capacity to do so much more. Because the Web is a multi-media platform, promotional materials can be created in the form of music videos, audiovisual presentations, discussion forums, and many other ways. These days, it is not just about selling a product or service, but giving customers an interactive and engaging experience. For this reason, online advertising in the Asia-Pacific, the US, and the global market, will definitely flourish for a very long time.