Marketers are spending a lot on data, although privacy rules are being put into place worldwide. The United States will close 2018 with the distinction of being the largest data market, contributing $12.3 billion to the $20.6 billion worldwide estimate. In comparison, Europe will reach a mere $3.2 billion this year.
OnAudience.com -- the data arm of the Cloud Technologies Group, which focuses on data analytics -- released a report titled Global Data Market Size 2017-2019, which highlights the growth rate of worldwide data purchases in 23 markets. The data suggests the U.S. will retain its No. 1 position in 2018, reaching $15 billion by next year.
The UK data market will take the title of the second-largest data market by 2019, with a value of $2.4 billion. China follows with a data value in 2019 of more than $2.4 billion.
The report also includes estimates of display and programmatic ad spending between 2017 and 2019. It forecasts that globally, marketers will spend $26 billion on data in 2019 -- up from nearly $21 billion in 2018 and $15 billion in 2017.
Despite the introduction of GDPR in Europe and other privacy data controls being put in place in California, the amount that marketers will spend on data globally from now through 2019 will grow by double digits in nearly all countries analyzed, per the report.
The study attributes the increase in the amount spent on data partly to display and programmatic advertising. Both rely heavily on data. The analysis estimates that globally, marketers will spend $75 billion on programmatic ads and nearly $121 billion on display ad in 2018. In 2019, those numbers will increase to nearly $90 billion and $137 billion, respectively.
The U.S. programmatic market takes the spot as the largest globally. Marketers will spend $39.1 billion dollars on programmatic ads in 2018, which is more than half of a programmatic ad spending worldwide, according to the data.
The report values the programmatic market in the U.S. at $45.7 million by 2018, up from $39 million in 2018.
The programmatic market in the UK is the largest in Europe, with a value of $5.7 billion in 2018 -- up 16.8% compared with the prior year.