Insights Into The Social Media Advertisement Market’s Growth Opportunities Through 2023-2032 – Includes Social Media Advertisement Market Forecast
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Growing internet penetration coupled with increasing social media users are expected to drive innovation in social media advertisement manufacturing, thus driving the market during the forecast period.
The global social media advertisement market is expected to grow from $176.45 billion in 2022 to $209.19 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The social media advertisement market size is expected to grow from $380.9 billion in 2027 at a CAGR of 16.2%.
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Global Social Media Advertisement Market Segments Include:
- By Advertisement Type: Microblogging, Photo Sharing, Video Sharing, Other Types
- By Device: Mobile, Personal Computers or Laptops
- By End-Use Industry: Healthcare, Automotive, Retail, Telecom, BFSI, Other End Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global social media advertisement market in 2021.
Major Market Players in the social media advertisement market include Facebook, Inc., Twitter, Pinterest, Inc., LinkedIn Corporation, Google LLC (YouTube), Snap Inc. (Snapchat), Tencent (QQ, Qzone, and WeChat).
The advancement in technology is a major trend in the social media advertising market. Social media is likely to experience an increase in the adoption of technologies such as virtual reality (VR) and augmented reality (AR). These technologies help a social media advertising company enhance its product appearance to attract more users. For instance, Sephora, a France-based retail company has incorporated AR features on its Facebook page to enhance user experience. Through this, a user can try different products and know if they work. This advancement will draw more audiences and affect social media advertising positively.
The Social Media Advertisement Global Market Report 2023 provides a social media advertisement market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The social media advertisement market forecast analyzes social media advertisement market size, social media advertisement market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Social media advertising is a promotional activity to connect with the audience to build the brand, increase sales, and drive website traffic on social media. Advertising refers to communication with the consumers of a product or a service. This includes generating and sharing content on social media platforms such as Facebook, Twitter, and Instagram to accomplish marketing and branding goals.
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