In a recent published report, Kenneth Research has updated the Digital Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Market products.
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According to the statistics by the Bureau of Economic Analysis (BEA) of the U.S. Dept. of Commerce, the gross output registered from the data processing, internet publishing and other information services industry grew from USD 162.5 Billions in 2010 to USD 530.4 Billion in 2020.
Indian digital marketing market
India is considered to be emerging as a digital outsourcing hub for diverse services including online advertising, social media and website design. Online advertisement and mobile advertisement form the two major chunks of digital marketing. Rising demand for digital marketing is spurred by the increased use of the 4G connections and smartphones along with a fast growing e-commerce business. There is a dearth of skilled professionals in this space, and sometimes it becomes very difficult for the companies to afford the technologies to enter into the digital space. Areas that help in accelerating the growth of the market include e-commerce, social marketing, content creation and management, search marketing, email marketing, analytics, and video production.
Government initiatives such as the digital India initiative has led to the increase in digital consumption in India, which has benefitted the various digital advertising agencies. Growth in internet penetration with an increase in the usage of smartphones, has led to the expansion of e-businesses, resulting in the rise of online shoppers. With the growing numbers of mobile applications and mobile platforms rich in new features, mobile ads are the newest and one of the most promising digital marketing formats today. These advertisements allow maximum consumer exposure due to the mounting number of mobile devices that people carry everywhere. Mobile social media apps or sites, third-party app stores, gaming apps, mobile-friendly educational sites and other apps are the most used platforms for mobile ads in India
Key growth factors
o Most of the Indian households own only one television at home, which has increased the use of smartphones and tablets, resulting in the emergence of over the top media players and has placed contents like live sports events, reality programs, movies, television series, etc. With the help of digital marketing, the e-players are able to convert social networking to market places. Rapid internet penetration and technological advancements have helped in the rapid evolution of the online education sector in India.
o In India, emergence of the e-commerce ecosystem has led to a successful proliferation of digital marketing revenue, which includes online travel and ticketing, online retail, online marketplace, online deals and classified online portals.
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Threats and key players
o Low data speed and unstable connection together with low broadband penetration are still predominant in India. Lack of awareness about new technology, cost of technology and low computer literacy causes hindrance to the growth of the digital market in the rural areas.
o AdGlobal360 India Private Limited, DDB Mudra Private Limited, Dentsu Webchutney Private Limited, Grey Worldwide (India) Private Limited, Gozoop Online Private Limited and Interactive Avenues Marketing Solutions Private Limited are some of the major players operating in the digital marketing market in India.
What is covered in the report?
1. Overview of the digital marketing industry in India
2. Historical, current and forecasted market size data for the digital marketing market in India (2016 to 2023)
3. Qualitative analysis of the digital marketing market in India
4. Qualitative analysis of the major drivers and challenges affecting the market
5. Analysis of the competitive landscape and profiles of major players operating in the market
6. Key recent developments associated with the digital marketing market in India
1. Get a broad understanding of the digital marketing market in India, the dynamics of the market and current state of the sector
2. Strategize marketing, market entry, market expansion and other business plans by understanding the factors driving growth in the market
3. Be informed regarding the key developments in the digital marketing market in India
4. Understand major competitors’ business strategies and market dynamics and respond accordingly to benefit from the market
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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