Global Digital Ad Spending Could Exceed $510 Billion By 2023

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Dec 09, 2019, 08:45 ET

PALM BEACH, Florida, Dec. 9, 2019 /PRNewswire/ -- The global online advertising market size was at $240 billion as of the end of 2018 and the final numbers for 2019 will undoubtedly be significantly higher. According to a report from Industry ARC, the market is set to grow at an impressive CAGR of 40% through 2025. A additional report from Statista goes even further saying that the worldwide digital advertising market expenditures estimated the spending would further grow to $517 billion by the end of 2023. The ARC report said that the online advertising market, which includes online marketing, Internet advertising, or web advertising, uses Internet and web pages to reach the target customer, and with the recent upsurge in the number of Internet users across the globe, people watching television has significantly reduced, and so, the online advertising market revenue has surpassed the one through broadcast television. Online advertising finds applications in social media, E-Commerce, displays, and other media. Now, mobile contains each of the mentioned segments in one single unit, and hence, the target customers prefer to use mobile instead of other sources to access the Internet. Henceforth, the online advertising market will observe the application CAGR in mobile to be an outstanding 50-55%. Active companies in the markets this week include Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF), Oracle Corporation (NYSE: ORCL), Domo, Inc. (NASDAQ: DOMO), Cloudera, Inc. (NYSE: CLDR), SeaChange International, Inc. (NASDAQ: SEAC).

The ARC report continued: "According to the Pew Research Center, 53% of the prospective customers across the globe use social media platforms such as Facebook, Instagram, Twitter, and others. Furthermore, the number of people on social media is only going to increase in the coming years. Now, these people spend a substantial fraction of their time on social networks which creates a wide spectrum of customer base with different choices and perceptions. This happens to be a major online advertising marketplace for the advertising agencies as the agencies get to target millions of people with prospects of buying a diverse range of products of different brands. The major challenge in the online advertising market is that the customers are blocking ads on various social media platforms and search engines. Furthermore, these platforms come up with a new algorithm on a regular basis, which makes it a bit difficult for the agencies to realign their marketing strategies in inclination with the changes made on the platform. Additionally, the growth prospects in the market are creating overwhelming competition in the niche."

Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF) BREAKING NEWS: Versus Signs Agreement with iClick - Versus, which offers a proprietary in-game prizing and promotions engine, has signed an agreement with iClick Interactive Asia Group Limited (NASDAQ: ICLK) to collaborate and bring Versus' technology to iClick's customer base in China.

iClick is an independent online marketing and enterprise data solution provider in China that expertly connect brands to consumers in China with omnichannel, integrated, cross-platform and cross-screen advertising, leveraging its over 800 million Chinese consumers' dataset.

"iClick has an outstanding roster of brands and content creators that it works with, as well as incredible access to Chinese consumers," said Matthew Pierce, CEO of Versus. "Our ability to provide a unique level of data brand engagement that is not typically attainable with traditional online marketing programs should be highly valuable to iClick. They are the ideal partner as we build out our customer base in China and enable brands to leverage prizing more effectively."

Versus' proprietary prizing and promotions engine can provide in-depth insight into how consumers engage with its promotions while offering consumers a highly engaging way to interact with brands while gaming. Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/

Other recent developments in the markets include:

Domo, Inc. (NASDAQ: DOMO) recently announced results for the fiscal 2020 third quarter ended October 31, 2019. "I am very pleased with our 24% subscription revenue growth and our execution in Q3, closing several of the largest deals in company history. We provide a differentiated solution that helps customers quickly, easily and securely put data to work at scale," said Josh James, Domo founder and CEO. "In Q3, we were once again able to make meaningful progress on reducing our cash burn, coming in well ahead of our guidance. Consistent with our previous statements, we remain committed to achieving cash flow positive status with the cash on our balance sheet and continue to be optimistic about the opportunity in front of us."

Domo also announced a partnership with Snowflake, which includes an API integration and co-selling initiative, to help customers more easily leverage the flexibility and scalability of the cloud. With this partnership, customers can leverage Domo's iPaaS capabilities to manage their entire data ecosystem and easily bring additional sources of data from across their organization into Snowflake.

Domo also announced a new application with Square to help merchants with multiple Square accounts to easily unlock insights and gain more value from that data.

Cloudera, Inc. (NYSE: CLDR) recently announced that more than half of the 30 largest banks in Asia Pacific (excluding state-owned banks in China) have chosen Cloudera to enhance their data strategy to accelerate digital transformation, improve customer experiences, and meet regulatory and compliance requirements. Cloudera also counts eight of the top 10 largest banks in Southeast Asia as customers. With 75% of companies in the Asia Pacific region falling victim to financial crime over the past 12 months, the pressure is on for financial institutions to rely on data, analytics, machine learning and AI technologies to capitalize on the information needed to combat financial crime.

They also recently announced that the Cloudera Data Platform (CDP) powered by Microsoft Azure. CDP is an integrated data platform that is easy to secure, manage, and deploy. Now available on Azure, it delivers powerful, self-service analytics with a consistent Azure experience and enterprise-grade performance across hybrid environments with the granular security and governance policies that IT leaders demand.

Oracle Corporation (NYSE: ORCL) recently announced that it has been recognized in two newly released Gartner database reports. Oracle was ranked first in all four use cases of the 2019 Gartner "Critical Capabilities for Operational Database Management Systems" reportand was named a Leader in Gartner's 2019 "Magic Quadrant for Operational Database Management Systems" report.

"We believe Oracle's placement in Gartner's reports demonstrates our continued leadership in the database market and our commitment to innovation across our data management portfolio," said Andrew Mendelsohn, Executive Vice President Database Server Technologies, Oracle. "Oracle continues to deliver unprecedented performance, reliability, security, and new cutting-edge technology via our cloud and on-premises offerings."

SeaChange International, Inc. (NASDAQ: SEAC) recently reported third quarter fiscal 2020 revenue of $20.5 million and net income of $2.1 million, or $0.06 per basic share, compared to third quarter fiscal 2019 revenue of $18.6 million and a net loss of $3.8 million, or $0.11 per basic share. "The transformation of SeaChange is well underway and taking hold: we are seeing further evidence that our strategic growth initiatives are winning in the marketplace, positioning SeaChange for clear market leadership and long-term profitable growth. The Framework offering and our unique value-based engagement have been well received. Our new wins in the quarter provide additional confirmation that we have a superior product, which enables our customers in turn to offer an exceptional viewer experience to their customers."

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