Are you ready to get slammed with even more advertising? You need to be, according to new research released Monday from eMarketer. The firm forecasts global advertising spending will total $628.63 billion this year, with nearly 71% of that spend targeting Asia-Pacific and North American consumers.
Year over year, spending is expected to rise by 7.4%, partly due to the 2018 World Cup tournament this summer. Through 2022 eMarketer expects spending to rise at a steady pace of more than 5% annually.
Spending on digital advertising is forecast to account for 43.5% of all spending, which eMarketer attributes to rising global e-commerce spending and shifting viewership from traditional TV to digital channels. The firm forecasts that digital spending will be near 50% of total spending in 2020 and top 52% in 2021.
Spending on mobile advertising will account for two-thirds of spending on digital advertising this year and just over 29% of all ad spending.
North America remains the top advertising market this year with total spending of $232.48 billion, 37% of global media spending.
Asia-Pacific will account for about a third of global spending with a total of $210.43 billion this year.
eMarketer noted its earlier forecast that Asia-Pacific advertising spending would top North American spending by 2019 and now says that will not happen because of stronger-than-expected North American spending growth in 2017 and a falling U.S. dollar.
That does not, however, alter the fact that Asia-Pacific ad spending will pass North American spending. The new forecast calls for the switch to occur in 2022.
24/7 Wall St.