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Social Media Advertising Market Worth $262.62 Billion by 2028

Social Media Advertising Market Worth $262.62 Billion by 2028

Felton, California. And April 13, 2022 /PRNewswire/- The global social media advertising market size is expected to reach 262.62 billion US dollars by 2028, according to a new report from Million Insights. It is expected to expand at a compound annual growth rate of 12.4% from 2021 to 2028. The growing popularity of digital advertising tools among various industries in recent years to provide information about their companies and products is accelerating the growth of the market. Additionally, the growing adoption of social media advertising across emerging economies is driving the market. Moreover, technological advancements in virtual reality (VR), augmented reality (AR), artificial intelligence and machine learning have allowed the delivery of personalized advertising content to customers, resulting in significant growth in the market.

Social Media Ads Market Report Highlights

  • North Amarica It had the largest share of revenue over 30.0% in the year 2020 due to the growing number of internet users in this region.

  • The mobile platform segment is expected to register the fastest compound annual growth rate (CAGR) from 2021 to 2028 due to the increasing number of smartphone users worldwide.

  • The vertical segment of the retail industry accounted for the largest share of revenue over 20.0% in 2020 due to the growing popularity of advertising on social media.

  • Asia Pacific It is expected to register the fastest compound annual growth rate of 13.2% from 2021 to 2028 due to increased spending on social media advertising.

Social media advertising market growth and trends

Advertising on social media is gaining in popularity due to its effectiveness and high customer engagement. Moreover, the lockdown situation was observed during the COVID 19 pandemic and the market saw a slight downturn as many advertisers cut their marketing budgets or put on ad spend for a shorter period. The increased spending on digital advertising after easing several restrictions is expected to boost market growth during the forecast period. The mobile platform segment is expected to register the highest compound annual growth rate (CAGR) from 2021 to 2028. The growing number of smartphone users, along with the rising worldwide internet penetration, is driving the market growth. In addition, increased investment in mobile social media advertising development by many advertisers due to high customer engagement is driving the market.

The vertical segment of the FMCG industry is expected to register the fastest compound annual growth rate of 14.1% from 2021 to 2028. The growing popularity of social media platforms to promote brand and build product awareness is driving the market. Moreover, the increased selling of consumer goods through social media advertising is expected to accelerate the growth of the market. Moreover, almost 50% of the world’s population is on social media, which shows the growth of the market during the forecast period. North Amarica It dominated the market with over 30.0% revenue share in 2020. Technological advancements in augmented reality and virtual reality are expected to drive the growth of the market during the forecast period. Moreover, the rapidly increasing number of internet users across the region is further driving the growth of the market. Moreover, increasing investments related to digital advertising, especially in social media consulting, are expected to drive the market in this region.

Read the summary or request a free sample of our Market Research ReportSocial media advertising market size, engagement and trends analysis report by platform (desktop, mobile), by industry segment (retail, consumer goods), and by region (North AmaricaAnd EuropeAPAC, CSA, MEA), and Sectors Outlook, 2021-2028″, Posted by Million Insights.

Segmentation of the social media advertising market

Million Insights segmented the global social media advertising market on the basis of platform, industry segment, and region:

Social Media Advertising Market – Platform Forecast (Revenue, Million USD, 2017 – 2028)

Social Media Advertising Industry Vertical Outlook (Revenue, Million USD, 2017 – 2028)

  • the cars

  • Financial Services

  • Consumer Goods

  • Media and entertainment

  • sectoral

  • Telecom

  • Aharon

Social Media Advertising Market Regional Forecast (Revenue, Million USD, 2017 – 2028)

  • North Amarica

  • we

  • Europe

  • Germany

  • United kingdom

  • France

  • Asia Pacific

  • China

  • Japan

  • India

  • middle & South america

  • Brazil

  • The Middle East & Africa

  • South Africa

List of Major Players in Social Media Ads Market

  • Facebook, Inc.

  • Twitter, Inc.

  • Moovly Media Inc.

  • Tencent HOLDING LIMITED

  • Webo . company

  • Baidu Tiba

  • cacao

  • Pinterest

  • snap chat

Browse more research reports from Million Insights

  • Banner Ads MarketThe global advertising market is expected to reach 87.14 billion US dollars by 2028, according to a new report from Million Insights. It is expected to expand at a compound annual growth rate of 4.6% from 2021 to 2028. The increasing adoption of digital advertising across emerging economies is accelerating market growth. Moreover, technological advancements in artificial intelligence, big data analytics, and machine learning have allowed the delivery of customized advertising content to the customer, thus boosting market growth.

  • Search in the advertising marketThe global search advertising market size is expected to reach 318.1 billion US dollars by 2028, registering a compound annual growth rate of 8.6% over the forecast period, according to a new report from Million Insights. The growing popularity of digital advertising tools among various industries in recent years to provide information about their companies and products is expected to accelerate market growth. The increasing adoption of paid search advertising across emerging economies has accelerated market growth over the past few years. Moreover, technological advancements in artificial intelligence (AI) and machine learning (ML) have allowed the delivery of customized advertising content to the customer, and this has led to significant growth in the market.

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Million Insights, is a market research and advisory firm, providing syndicated and customized research reports and advisory services. We have a comprehensive marketplace that will enable you to compare data points before making a purchase. Enabling Informed Purchasing is our motto and we strive to ensure that our clients get to browse multiple samples before investing. Flexibility of service and the fastest response time are two pillars of our business model. Our Market Research Reports Store includes in-depth reports, from various industry segments, such as healthcare, technology, chemicals, food and beverages, consumer goods, materials science, and automotive.

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