The value of digital advertising across Europe increased by 13.9% in 2018 to reach €55.1bn, driven by strong growth in video, mobile and social spend, according to new data from IAB Europe.

Announcing headline figures from its annual AdEx Benchmark study at its Interact conference, taking place this year in Warsaw, the trade body noted that this was the fastest growth since 2011 and that the market has more than doubled in size since 2012.

The study covers 28 markets, 21 of which saw double-digit year-on-year growth in 2018; the five fastest growing markets all came from the CEE region: Ukraine (26.9%), Russia (24.9%), Belarus (23.6%), Czech Republic (20.9%) and Serbia (20.1%).

Russia also makes the top five markets in terms of size, coming in fourth on €4.1bn. The UK remains by far the largest market, worth €18.4bn, more than twice as big as Germany (€7.2bn) and more three times the size of France (€5.2bn); Italy is fifth (€2.9bn).

Out-stream video and mobile both dominated results in 2018, as they both grew by double-digits in all 28 markets. Out-stream video grew by 44.7% on average, more than twice as fast as in-stream at 19.7%. Overall, video grew by 30.9%, to €7.6bn, accounting for 33% of the display market.

Search remains the largest online advertising category in terms of revenue with a growth of 12.5% and a market value of €25bn.

Social, meanwhile, is fuelling display growth across Europe, growing 33.7% year-on-year and now accounts for 49% of display.

Total mobile ad spend grew by 31.4% to €22.8bn, and now accounts for 41% of all digital ad spend across Europe.

“Mobile, video and social continue to drive growth across the region, with mobile now closing in on 50% of both display and search, and video accounting for a third of all display,” noted Dr. Daniel Knapp, Chief Economist, IAB Europe.

“These formats and environments reflect consumer engagement with a range of devices, for entertainment, utility and connection, demonstrating the diverse power of digital advertising to influence consumer decision-making.”

The full AdEx Benchmark 2018 Report will be published towards the end of this month.

Sourced from IAB Europe; additional content by WARC staff