Global social media advertising market poised to reach $248 billion by 2027, report
Amid the COVID-19 crisis, the global market for Social Media Advertising estimated at $85.2 Billion in the year 2020, is projected to reach a revised size of $248.2 Billion by 2027, growing at a Compound annual growth rate, CAGR, of 16.5% over the period 2020-2027 according to a report by Research and Markets.
Desktop, one of the segments analyzed in the report, is projected to record 15.2% CAGR and reach US$155 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mobile segment is readjusted to a revised 18.9% CAGR for the next 7-year period.
The Social Media Advertising market in the U.S. is estimated at US$23 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$57 Billion by the year 2027 trailing a CAGR of 21.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 14.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR.
