Spend on digital advertising is set to overtake all other forms of marketing for the first time, according to eMarketer’s latest advertising spending forecasts.
Over the next 12 months, digital advertising spending will leap by 12pc, to total €433m, equating to 51.4pc of total media advertising spending in Ireland.
Mobile advertising efforts will represent 62pc of all digital advertising spending in the country this year, a figure that is expected to grow to almost 80pc of digital investment by 2021, according to eMarketer estimates.
By 2021 it is expected that just under 50pc of overall paid advertising spend will be devoted to reaching consumers on mobile devices.
”Thanks in part to a tech-savvy, outward-looking young population, Ireland has outpaced many other developed economies in terms of how much advertising and marketing spend is devoted to digital channels,” said eMarketer principal analyst Karin von Abrams.
“2017 will be a tricky year for the country in some respects. For one thing, the UK will begin the process of leaving the European Union, while Ireland remains within the EU. But that strong bond with Europe will help to buoy up the Irish economy and also encourage the nation’s advertisers to look beyond their own borders for new customers.”
“Ireland’s commitment to digital infrastructure and processes means it’s well equipped for that challenge” Von Abrams added.