: Dentsu Global Forecast 2021: India’s digital AdSpends increased by 7.9% #IndiaNEWS #Report The 2021 forecast on the Global Ad Spend report is based on data derived from

Dentsu Global Forecast 2021: India’s digital AdSpends increased by 7.9% #IndiaNEWS #Report
The 2021 forecast on the Global Ad Spend report is based on data derived from 59 markets and predicts global ad spend growth of 5. 8% in 2021, amounting to 579 Bn USD.

Ad Spend in Asia Pacific, home to 60% of the world’s population, is expected to grow by 5. 9%, with the share of digital forecast to increase 9. 1% to a share of 57. 5% of all spend, in 2021.

“If the 2010s saw the rise of FOMO (Fear of Missing Out), the turn of the decade changed the feeling to FOGO (Fear of Going Out). Conspicuous consumption has been replaced by anxiety and sheltering, with many cautious about doing things that used to be ‘normal’, including shopping, using public transport, and being in crowded spaces. By the summer of 2020, one-third of the world’s population had been in some form of lockdown, huddling close to the safety of our homes, as our lives shifted online, resulting in a considerable increase in the use of at-home media such as Netflix, Zoom, and Twitch,??? said Ashish Bhasin, CEO, dentsu APAC.

Rise Of Social Commerce

“Accelerated by the pandemic and enabled by 5G, technologies which were once thought to be tough to embrace became our key enablers: AI, collaboration tools and social-commerce adoption usage surged. Based on our recent ad spend report, we are expecting to see a dramatic increase in virtual products and experiences. Now that we are unrestrained by physical space, we are at liberty to reimagine what a concert, conference, shopping experience, buying property, cars, attending a class should and can be. As contactless technologies make stores less human, online commerce has become more social and more personal, marking the rise of Social Commerce, powered by next-generation live streaming platforms,??? added Bhasin.

Digital Spend In APAC

The pandemic has accelerated a clear shift to digital in terms of share of ad spend in 2020 versus 2019, with the region’s digital share of ad spend accounting for 55. 7% share in 2020, higher than the global average of 48% and was the largest in terms of percentage across regions globally. The growth is led by China where digital spend in 2020 accounted for 64. 7 Bn USD (or 67% share of the market’s ad spend in 2020), up from 64. 3% in 2019.

Digital ad spend in Hong Kong was up, accounting for 72. 3%, a 9% increase from 2019. Digital spend in Singapore rose, at 39. 8% share, up 14. 4% from 2019. Japan’s digital spend also increased, at 47. 3% share, up +7. 1% from 2019. South Korea also showed significant growth with 55.