The global online media market size is anticipated to expand at a significantly CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increase in the number of Internet users and rise in adoption of smart devices.
Online media is defined to be a collection of communication technology that utilizes the World Wide Web to present information. They can be created, distributed, listened, viewed, and modified by any smart device. Online media has made a complex yet significant impact on our culture and society. It has also caused disruptive innovations in various fields including journalism, entertainment, commerce, publishing, public relations, education, and politics with the introduction of the internet. Online media is one of the reasons where the human race transitioned from the industrial era to the information era. It has changed the lifestyle of people such as moving towards a paperless society, open content movement, and media now being completely dependent on smart devices.
Market Trends, Drivers, Restraints, and Opportunities
- Factors such as technological advancements and changing preference from print media to online advertising are expected to boost the market during the forecast period.
- Increase in multiple media platforms providing multiple innovative features such as display advertisements & videos, mobile advertising formats, and rich media acts as a prominent driver of the online media market.
- During the COVID pandemic, People were at home and only form of entertainment they could get was from online media. Sharing of news, job postings to entertaining videos all were accessible only online. This inspired marketers to innovate new marketing solutions like crowd funding and other activities that helped their campaign. These activities have created growth opportunities.
- The online usage increased to a large scale to the factor that the online activities were not being able to be monitored, this in turn hinders the market growth.
- Factors such as advertisement spamming, identity thefts and cyber-crimes are increasing which act as a restraint in the online media market.
- Lack of awareness of the maximum potential in regard to the benefits of online media could act as a restraint to the market growth.
Scope of the Report
The report on the global online media market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Online Media Market – Global Industry Analysis, Growth, Share, Size, Trends and Forecast
Formats (Search Engines, Classifieds, Display Advertising, Digital Video Advertising, Lead Generation, Mobile Advertising, and Rich Media) and Verticals (Automotive Industry, Consumer Packaged Goods Industry, Banking Financial Services and Insurance, Education, Retail, Media & Entertainment, Healthcare, Transport & Tourism, and Telecommunication & Information Technology Enabled Services)
Asia Pacific, North America, Latin America, Europe and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends and Revenue Forecast
Key Players Covered in the Report
Amazon.com Inc; Yahoo Inc; Aol Inc; Facebook Inc; IAC Corporation; LinkedIn Corporation; Baidu Internet Services Company; Google; Twitter Inc; Microsoft; Qzone corporation; and Sponge
Global Online Media Market Segment Insights
The mobile advertising segment is anticipated to expand at a high CAGR during the forecast period
On the basis of formats, online media market is segmented into search engines, classifieds, display advertising, digital video advertising, lead generation, mobile advertising, and rich media. During the COVID pandemic most of the segments mentioned showed a substantial CAGR. The mobile advertising segment showed the highest CAGR compared to the other segments. Primary reason for the growth of the segment is projected to be innovative features along with the involvement of people and understanding & leveraging of the mobile features. The online media usage in mobile devices increased from 3.5 billion before the COVID pandemic to 3.8 billion in April 2021.
The media & entertainment segment accounts a key market share
Based on verticals, the global online media market is divided into automotive industry, consumer packaged goods industry, banking financial services and insurance, education, retail, media &entertainment, healthcare, transport &tourism, and telecommunication &information technology enabled services. The media & entertainment segment holds around 43.2% of the online social media market. The constant innovations in this segment and most of the other segments not being able to function properly are the factors estimated to drive the segment.
North America holds a significant share of the global market
In terms of regions, the global online media market is classified as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. North America leads the market owing to their early adoption and enhancement of technological advancements. Growth of the market is attributed to presence of major players in the region. Asia Pacific holds the maximum share of the online media market in terms of revenue, demand and consumption.
Segments Covered in the Report
The online media market has been segmented in terms of
- Search Engines
- Display Advertising
- Digital Video Advertising
- Lead Generation
- Mobile Advertising
- Rich Media
- Automotive Industry
- Consumer Packaged Goods Industry
- Banking Financial Services and Insurance
- Media & Entertainment
- Transport & Tourism
- Telecommunication & Information Technology Enabled Services
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Amazon.com Inc
- Yahoo Inc
- Aol Inc
- Facebook Inc
- IAC Corporation
- LinkedIn Corporation
- Baidu Internet Services Company
- Twitter Inc
- Qzone corporation
Key players competing in the online media market include Amazon.com Inc, Yahoo Inc, Aol Inc, Facebook Inc, IAC Corporation, LinkedIn Corporation, Baidu Internet Services Company, Google, Twitter Inc, Microsoft, Qzone corporation, and Sponge. Amazon.com Inc and Google have started to implement the online media to daily services like electronic commerce, electronic entertainment and electronic education. These innovations make them the market leaders of online media.