Will Kids’ Digital Advertising Market carry its growth momentum post COVID-19? Read more to know September 17, 2021
Kids’ Digital Advertising Market - Introduction • Kids’ digital advertising refers to all kinds of communication initiated by a company to promote and endorse its products, brands, and services using digital channels. It involves all actions performed by advertisers on different platforms - social media pages, blogs, web browser apps, or any other form of contact through the Internet. Digital transformation allows companies to engage with target audiences, which results in sustaining their position in the market. For instance, a social media survey reported that in 2020 there were 2.5 million active users on Facebook compared to other social media platforms. • Rising number of social media users coupled with increase in amount of time spent on social media platforms are some of the factors that fuels the growth of the global kids digital advertising market. For instance, according to GlobalWebIndex, more than 75% of teenagers groups spent more than 3 hours and 25 minutes on social networking websites. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=82083 Key Drivers of the Kids’ Digital Advertising Market • Rising spending of organizations on digital advertisement is expected to fuel the growth of the kids’ digital advertisement market in the near future. For instance, emarketer.org reported that organizations spent US$ 345 Bn in digital advertising in 2020, globally. The major benefit of digital advertising is that it is highly costeffective compared to traditional methods of advertising. Digital advertisements also offer brand loyalty which results in increased sales to organizations. • Growing adoption of smartphones in developed economies provides growth opportunity to the kids’ digital advertisement market. Major benefit of mobile advertising is that it is highly cost-effective and also allows a business to target different kids’ groups accordingly as per requirement. Mobile advertising allows a business to reach a large volume of people virtually from anywhere at any time. For instance, according to the GSMA, global smartphone adoption reached 60% in 2018 and is expected to reach 85% by 2025. Furthermore, significant investment by businesses to promote their products through mobile search engines is likely to drive the kids’ digital advertising market. • However, high initial investment in digital advertisement is expected to hamper the kids’ digital advertising market Impact of COVID-19 on the Global Kids’ Digital Advertising Market The COVID-19 pandemic adversely affect all industries, except digital advertising. During the COVID-19 pandemic, businesses shifted to digital advertisement platforms. For instance, according to the Digital Advertising Bureau, almost 24% of media consumers, planners, and advertisers have paused ad spending till the end of December 2020. SMEs had increased their spending by 46% in the same time span as most end-use industries preferred online platforms for selling kids’ products during the pandemic situation. North America Accounts for Dominant Share of the Global Kids’ Digital Advertising Market • North America holds a prominent share of the global kids’ digital advertising market. Rising digitalization in the industrial sector is the key factor that drives the demand for kids’ digital advertising. Furthermore, the U.S. is one of the strong contributors to digital advertising as it the base for companies such as Amazon Web Services, Google Inc., Twitter, Inc., and Microsoft Corporation.