The global advertising market is set to see the same healthy rate of growth experienced in 2012, reflecting the extent to which the market is now stabilising, according to the latest forecasts from ZenithOptimedia.
The report states that the advertising market is on course to grow 3.5% in 2013 – the same rate experienced last year – and ZenithOptimedia expects stronger growth over the next two years: 5.1% in 2014 and 5.9% in 2015 – bolstered by a stronger European economy.
The Eurozone came out of its 18-month recession in Q2 2013, and its economic recovery is expected to gather pace gradually over the next couple of years, with the Eurozone ad market following suit.
Despite prospects for recovery, a steeper than expected decline in Eurozone adspend in the first half has stunted forecasts for adspend growth in Mature Markets this year.
ZenithOptimedia says that there has been no sign of an advertising slowdown in rising markets, despite concerns over their short-term economic prospects.
In terms of platforms, the report predicts that mobile will account for more than a third of all ad growth in 2013.
Though still relatively small, mobile advertising is expected to total $14.3 billion (£8.9 billion) worldwide this year, (2.8% of total ad expenditure), and is forecast to reach 77% growth in 2013, followed by 56% in 2014 and 48% in 2015.
By 2015 is it thought that mobile adspend will total $33.1 billion and account for 6.0% of total ad expenditure.
According to ZenithOptimedia, the rapid adoption of smartphones and tablets, new ad formats tailored for mobile, and improved standardisation of ad formats are all contributing to the expansion of mobile adspend.
8% growth in desktop adspend is predicted in 2013 and 2014, and 7% in 2015. ZenithOptimedia states that internet advertising – both desktop and mobile – will account for 20.4% of all ad expenditure in 2013, up from 18.3% in 2012, and forecast its share to rise to 24.6% in 2015.
“The stability of global adspend growth this year – a year without big events like the Olympics and US elections – shows that the advertising recovery is on track, promising even stronger growth in 2014 and 2015,” said Steve King, ZenithOptimedia’s CEO, Worldwide.
“The increasing penetration of mobile handsets is playing a key role in driving advertising growth across the world.”
