Search Advertising Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and COVID-19 Impact Insights, 2028
“The global search advertising market size was valued at USD 164.12 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028.”
The global Search Advertising Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global search advertising market size is expected to reach USD 318.1 billion by 2028, registering a CAGR of 8.6% over the forecast period, according to a new report by Million Insights. The increasing popularity of digital advertising tools among various industries in recent years to offer information about their company and products is expected to accelerate the market growth. The growing adoption of paid search advertisements across the emerging economies is accelerating market growth over the last few years. Moreover, technological developments in Artificial Intelligence (AI) and Machine Learning (ML) have allowed to delivery of customized advertising content to the customer, this has led to significant growth of the market. Search advertising is rapidly gaining popularity owing to its effectiveness, having more engagement of customers, and higher conversion rates, thus accelerating the market growth. The lockdown situations observed across the world during the COVID-19 pandemic created a slight decline in growth due to many advertisers slashing marketing budgets or pausing advertising spending for a shorter period. The increasing spending on digital advertising after the ease of several restrictions is expected to boost the growth of the market over the forecast period.