Online advertising refers to the dissemination of commercial messages through digital media channels to a large audience. Ecommerce, Non-Search, and Search are the various categories of online advertisement.
The market for online advertisements in Asia-Pacific stood at $107 billion in 2021. Online advertisements grew 11% in 2021 following an increase in the number of internet users in the region and the recovery in demand in the post-COVID-19 pandemic period, which led to businesses resuming their operations full-scale. Many new companies adopted digital advertising platforms to promote their products and services.
China, Japan, and Australia are among the major countries contributing to an online advertisement in Asia-Pacific.
The online advertising market in Asia-Pacific grew at a CAGR of 10.3% during 2017–2021. This explains the growth in alternative modes of advertisement, including digital advertising. The online advertising market captures a greater share and budget on account of the increase in digital awareness among consumers and the use of digital devices such as smartphones and smart TVs.
Companies globally reported a decline in advertisement spending as the demand decreased owing to restrictions on non-essential services due to the outbreak of the pandemic in 2020.
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