The European digital marketing market grew by almost a third, video and audio leading the growth | ICT Business | TechBuzz

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IAB Europe, the leading European organization for digital marketing and the marketing ecosystem whose Croatian branch is IAB Croatia, has published the 2021 Advertising Expenditure (AdEx) Benchmark Report – a fundamental assessment of investment in online advertising over the past year for the leading 28 European markets. The report covers digital formats and channels that contributed to the annual growth of digital advertising of 30.5% in 2021, culminating in a total market value of 92 billion euros.

In the context of the latest results of the leading European digital organization, the Croatian results once again point to reliability that is seen as a global industry standard and sets a benchmark for assessing the state of the profession. As a reminder, this year IAB Croatia presented an estimate of investments in online advertising in Croatia, and the results of the IAB Croatia Online AdEx study show that the total value of investments in online advertising in Croatia in 2021 is estimated at more than half a billion kunas, i.e. 89,970,000 euros and based on the collected data, the continuation of Croatian growth of almost 8% in 2022 is forecast.

“The mission of the members of IAB Croatia is to create a digital future unitedly in accordance with the best world practices, and research like this gives us the opportunity to determine our own position in the context of Europe and act even more precisely in the direction of further development,” said Rajna Cuculić (GroupM Zagreb). member of the Board of IAB Croatia and HURA.

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In the IAB Europe study, among the 28 investigated, as many as seven markets – including countries from Western, Central and Eastern Europe – grew above the average growth rate of 30.5%. IAB Europe previously predicted 28.6% growth for 2021, which makes the results of this assessment even more impressive: last year’s increase of 30.5% was the highest recorded since 2008. The increase represents a total of 21.5 billion euros added to the digital advertising market in in 2021

The numbers are excellent, with the awareness that this is not natural growth, but a result driven by reduced growth during the unpredictable year 2020. Therefore, it is noted that the two-year compound growth rate – from 2019 to 2021 – is a more accurate representation of the growth of the digital advertising market.

“All aspects of digital advertising profited from the benefits of a successful year 2021, but most of all those formats and approaches that enable small and medium-sized companies to use e-commerce advertising, video-based storytelling and formats that engage new consumer behaviors such as audio and gaming”, claims Daniel Knapp, IAB Europe’s leading economist.

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Display advertising accounts for almost half of the total spending, and at the same time it recorded a growth of almost 35%. Programmatic, excluding social networks, has as much as 57% of display advertising spending.

Video has been a key driver of growth, both in terms of social networks and beyond. It grew by 46.2% and now accounts for 41% of total display advertising spending – and exceeds half of total display advertising spending in the markets of Ukraine, Great Britain and Italy.

Digital audio recorded the strongest percentage progress

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In 2021, digital audio grew by 50.7%, surpassing all other formats in growth. The audio market continues to grow strongly, after a modest start, reaching 700 million euros in 2021, which accounts for 3% of display advertising spending.

The leading three European markets in terms of investment in online advertising are the United Kingdom, Germany and France. Looking at digital ad spend per person, some key markets still lag behind the European average spend of €115 per capita; Spain, for example, records 92 euros of consumption per inhabitant, and Poland 38 euros – but this also indicates a certain possibility of further growth.

In terms of the size of the digital market, Croatia is next to Romania and Bulgaria, whose population is significantly larger than Croatia’s, which indicates the development of our market. The growth of digital advertising in 2021 compared to 2019 is at the level of the European average.

“While spending on digital advertising per capita in our country is 18% lower than in Slovenia, we are significantly above Romania, Serbia and Bulgaria. According to the share of display advertising in total digital advertising, we are in the company of Slovakia, Serbia, Slovenia and the Czech Republic, i.e. in line with trends in Central Europe. However, according to the share of video advertising, we are slightly behind the European average, given that video accounts for slightly less than a third of display investment. We expect strong growth there in 2022, which would bring us closer to the European average. In terms of the share of advertising on search engines, we are slightly below Slovenia, and in the company of Slovakia and Serbia, and further growth is expected there in 2022”, analyzed Vjeko Srednoselec (dentsu Croatia), member of the working group for IAB Croatia Online AdEx.

“This report also shows that the research conducted by IAB Croatia and recently published met all expectations methodologically and qualitatively. The results are comparable with other markets, Croatia has taken a strong position as one of the leaders of the regional development of digital marketing, and IAB Croatia is receiving new confirmation of the importance of its role in this,” explains Srednoselec.

Overall, the trends in Croatia show meaningful growth in line with Croatia’s position on the map of Europe, where further diversification, growth and development in the quality and use of technology are definitely expected, which brings us closer to the development of digital advertising in the markets of Western Europe.

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