Google and Facebook are increasing their lead in the U.S. digital advertising market, which is poised for double-digit growth, according to the latest eMarketer forecast.
eMarketer predicts U.S. digital ad spending will reach $83 billion in 2017, an increase of 15.9%. As part of this growth, Google will continue to hold its dominant position and represent 40.7% of all US digital ad revenues this year, which would be more than double Facebook’s share.
The research firm anticipates Google’s search market share will rise 16.1% to $28.55 billion this year. Furthermore, the search giant will hold approximately 78% of total U.S. search ad revenues in 2017.
“Google’s dominance in search, especially mobile search, is largely coming from the growing tendency of consumers to turn to their smart-phones to look up everything from the details of a product to directions,” said eMarketer forecasting analyst Monica Peart. “Google and mobile search as a whole will continue to benefit from this behavioral shift.”
But while Google will continue to dominate search, Facebook will be the king of display ads. The social media giant’s U.S. display business will surge 32.1% to $16.33 billion, which would give it a 39.1% share of the total U.S. display market, according to eMarketer. This would take some market share away from Google, Yahoo, and Twitter.
Growth in both usage and time spent has spurred Facebook’s revenue growth, and these factors make the platform continually attractive to more advertisers. Instagram is also helping push that revenue growth. In fact, Instagram will account for 20% of Facebook’s U.S. mobile revenue in 2017, up from 15% in 2016.
Google’s display business will climb somewhat to $5.24 billion, but its market share market will dip to 12.5%.
“Facebook’s users are increasingly captivated by videos on the platform—not just on Facebook, but on Instagram as well. Video, both live and recorded, is a key driver of growing user engagement and advertiser enthusiasm,” said Peart.
As for the recently-public Snapchat, the social media company is poised for tremendous growth in 2017. This year, the company’s ad revenue will explode 157.8% to $770 million in the U.S. That would be just below the $800 million previously projected because of higher-than-expected revenue sharing with partners.
Snapchat’s ad business, which consists of only mobile display, is still small. The company’s U.S. mobile ad market share will be just 1.3% this year, but will grow to 2.7% by 2019.
These projections amid the shifting landscape of social media consumption and digital advertising are crucial for any marketers and advertisers who are trying to get their brand into the public’s mind and ultimately turn that recognition into dollars.
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