Digital marketing spending market size to grow by $323 billion between 2023 and 2027, report
The Digital Marketing Spending Market by Platform, Type, and Geography - Forecast and Analysis 2023-2027 report has been published by Technavio.
Market size is forecast to grow by $323.29 billion between 2022 and 2027 at a CAGR of 8.71%. The market is driven by factors such as digital transformation across multiple sectors, increased credibility, and the growing proliferation of digital marketing software. However, the lack of short-term return on investment is hindering market growth.
The report includes historic market data from 2017 to 2021. In 2017, the market was valued at $459.61 million. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
By region, the global digital marketing spending market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. APAC will account for 44% of market growth during the forecast period. Factors such as the increase in urbanization and the rise in the adoption of e-commerce are driving the growth of the digital marketing spending market in APAC.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others.
By platform, the market is segmented into mobile devices and desktops. The mobile devices segment accounted for the largest share of the market in 2022.
By geography, the market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. APAC held the largest share of the market in 2022.
