IAB Europe, the leading European-level industry association for the digital advertising and marketing ecosystem, unveiled digital advertising grew 30.5% in 2021 to €92bn. This exponential growth shows that the digital advertising market has truly bounced back from the challenges and impact of COVID-19.
Now in its sixth year, The AdEx Benchmark study is the definitive guide to advertising expenditure in Europe, covering 28 markets. In 2021, all markets experienced double-digit year-on-year growth. Turkey was the most dynamic market posting an exceptional growth of 99.7%. In 2021, no markets experienced a decline in digital advertising.
The study shows that audio saw the largest growth in 2021 at 51.3%. Whilst the audio market still remains small, it represents positive growth. Video also grew by an impressive 46.2% to €18.5bn. Meanwhile display grew by 34.5% to €45.6, with search experiencing a 29.9% increase to €39.5bn.