The ad market is set to expand by a third this year, according to new figures from research firm Empirical Marketing Group (EMG), as ad spending on mobile continues to increase.
According to the research firm, spending on ads on mobile is set at a record of $4.4 billion in 2020, up from $3.4bn in 2020.
While this figure is higher than last year, it’s still below the $5.5 billion that was forecast by industry experts, with the number of ad impressions expected to rise to around 9.6 billion, a 25 percent increase on last year.
The report shows that ad spending in the UK is set for a record £7.8 billion, up 16 percent on last years figure, while the US is set up to spend around $6.4b in 2020 compared to $5bn last year as the digital revolution continues.
Meanwhile, the amount spent by the top 20 ad spenders is set a record in the US at $2.8bn, with $1.8b spent in France.
While the number is a lot higher in China, where the number still falls behind the US, the country’s ad spend is set record levels.
The US spends $1,000 per person in 2020 but in 2020 it is estimated to spend $1 billion, with China at $932 per person and India at $724.
China is expected to spend almost $3 billion more in 2020 than it did in 2020 and is set on spending nearly $4 billion more than last years spending.
In the UK, the spending figures are expected to increase by around 25 percent to $1bn in the year 2020, with spending in Germany up to $600 per person, and France up to around $800.
However, the report also says that in 2020 spending in Australia will be around $3bn, but the UK will see spending fall by around 5 percent to £1.5bn, and the US will see a decrease of just under 5 percent.
As well as this, the EMG said that spending on digital advertising is set by an estimated $7.5 trillion, and is expected by 2021 to reach $12.4 trillion, a 38 percent increase from the previous year.
This growth is set in part by the rise in mobile ad spend, with an estimated 10 percent growth from 2020 to 2021, the group said.
However the growth is not evenly distributed across all industries, with large companies like Google, Amazon and Facebook spending much more on digital ads than small companies like small retailers and universities.
Overall, the research group predicts that the total digital ad spend will be $3 trillion in 2020 for the UK alone, while in 2020 digital advertising spending will total just $1 trillion in the entire US, a decrease from $4 trillion in 2021.