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NEW YORK, March 27, 2024 /PRNewswire/ -- The global digital marketing spending market size is estimated to grow by USD 353.53 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.8%during the forecast period. The digital marketing spending market is surging due to the shift to online shopping driven by increased internet penetration, smartphone usage, and lifestyle changes. E-commerce platforms thrive, offering secure digital payments and vast product selections. Real-time measurement tools, CRM software, and AI technology are key investments for businesses engaging with consumers via digital channels like SMS, social media, and search advertising. Media & entertainment companies and BFSI industry leverage digital platforms for brand awareness and customer experience. Funding rounds fuel growth for digital marketing services like Jixie, Picklejar, FanVivo, and LS Digital, providing short video content and AI technology for business transparency and customer engagement.

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Digital Marketing Spending Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.8%

Market growth 2024-2028

USD 353.53 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.3

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

US, China, Japan, UK, and Germany

Key companies profiled

Alphabet Inc., AppLovin Corp., Coalition Technologies LLC, Dentsu Group Inc., Disruptive Advertising Inc., Ignite Visibility LLC, InMobi Pte. Ltd., Meta Platforms Inc., Microsoft Corp., Oracle Corp., Perfect Search Media, Power Digital Marketing, RAPP, Silverback Strategies Inc., Thinknow, Thrive Internet Marketing Agency, Twitter Inc., Verizon Communications Inc., WebFX, and L7 Creative

Segment Overview

This digital marketing spending market report extensively covers market segmentation by Application (Mobile devices, Desktops) Type (Search ads, Display ads, Social media, E-mail marketing, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)

Market segmentation by Application

In the evolving Digital Marketing Spending Market, mobile phones are surpassing desktops due to greater reach, cost-effectiveness, and the popularity of cross-device advertising. Leading digital technologies like TikTok and social media platforms are driving this shift. Large enterprises in sectors such as BFSI, media & entertainment, and commerce are investing heavily in digital channels, including social media advertising, search advertising, video advertising, and digital marketing services from companies like Google, LS Digital, FanVivo, and UnFoldMart. However, this transition comes with challenges such as phishing attacks and social engineering attacks. Traditional marketing methods are being replaced with data-driven strategies using AI and CRM software. On-premise deployment and real-time measurement are essential for effective digital marketing. SMS and MMS are also crucial components of this market. Smartphones are the new advertisement displays, offering real-time connectivity and targeting capabilities. Jixie, Picklejar, and Atmosly are other notable players in this dynamic market.

Geography Overview

The Asia-Pacific (APAC) region is a significant contributor to the global digital marketing spending market, driven by social media usage, online connectivity, and a growing consumer base. With an expanding landscape of developed economies and emerging markets, APAC offers digital marketers numerous opportunities. Data-driven strategies, AI technology, and digital marketing services from companies like Jixie, Picklejar, FanVivo, LS Digital, and others are shaping the future of marketing. Search advertising, social media advertising, video advertising, and ecommerce advertising are key areas of focus. Brands are investing in AI technology for customer engagement and brand awareness. Streaming/CTV, short video content, and business transparency are also crucial elements of digital marketing. Funding rounds, digital presence, and customer experience are essential for businesses looking to connect and cultivate relationships with their audience. Companies such as Dataxu, Meet Group, UnFoldMart, Atmosly, and Procter & Gamble are utilizing AI technology in various industries, including automotive, BFSI, and more, to enhance customer experience and sales through interactive consumer websites, email marketing, online/display advertising, blogging and podcasting, and more.

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Research Analysis

Market Research Overview

In the dynamic world of business, Digital Marketing Spending Market plays a pivotal role. Marketers invest significantly in digital technologies to reach and engage consumers effectively. The market encompasses various components like search engine marketing, social media marketing, content marketing, email marketing, and mobile marketing. These tactics enable businesses to target specific audiences, measure results, and optimize strategies in real-time. Moreover, emerging trends such as Artificial Intelligence, Machine Learning, and Voice Search are reshaping the digital marketing landscape. As technology advances, marketers must adapt to stay competitive and maximize their return on investment. The Digital Marketing Spending Market is an ever-evolving ecosystem that requires continuous innovation and strategic planning.

Table of Contents:

1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation

7Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email:[emailprotected] Website:www.technavio.com/

SOURCE Technavio

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Digital Marketing Spending Market size is set to grow by USD 353.53 bn from 2024-2028,shift in consumer behavior ... - PR Newswire