The Irish digital advertising market grew by 27% in 2021 according to the latest IAB Ireland PwC Online Adspend Study.
According to the study, total digital ad spend was €830m in 2021 with online display growing by 40% to €498m, with social and video driving much of this growth. Display advertising now holds a 60% share of the total Irish digital advertising market, according to IAB Ireland.
According to the research, spend on display, excluding social, grew by 28% to €112m in 2021 while search continued to show solid growth, rising by 10% to €288m. Search’s share of the market now stands at 35%.
Classified advertising, meanwhile, grew by 15% to €43m, retaining a 5% share of total online adspend.
According to IAB Ireland, its members are now forecasting more growth this year, with a 15% hike expected in 2022.
Commenting on the study results Suzanne McElligott, CEO, IAB Ireland, said, “2021 saw a dramatic take-off in eCommerce as businesses increasingly adopted digital channels to recruit, engage and fulfil consumers during the pandemic. The strong 27% digital adspend growth recorded in 2021 reflects digital moving centre stage for Irish advertisers from SMEs to large local and global brands.”
According to Connor Mace, strategy manager, PwC: “The key adspend growth drivers continue to be Video Social. Video advertising grew by 5 3% in 2021. Social Display at 37 5 m grew by 4 1 and now accounts for 76% of all display adspend, however, it is also important to note that non social display grew by 28% in 2021 and is 14% higher than in 2019 (pre pandemic) which reflects a strong performance for publishers in the Irish market.”
“The 2021 adspend report illustrates the resilience of the Irish advertising industry with positive growth across formats. All indicators for 2022 continue to predict digital growth. One area to watch is Digital Audio Wi th 71% of Irish adults now listening per week* it is not surprising that the digital audio adspend of 11m in 2021 is highlighted by adspend participants for further growth in the year ahead,” adds David Monaghan, chairman, IAB Ireland and head of commercial, News UK & Ireland.
