Digital Advertising Market Growth Outlook Through 2024-2033

Overview and Scope
Digital advertising refers to the services that promote businesses online, such as through search engines, social media, websites, and any other program that can be accessed digitally. Digital advertising helps achieve a variety of business goals across the marketing funnel, ranging from brand awareness to customer engagement to launching new products and driving repeat sales.

Sizing and Forecast
The digital advertising market size has grown strongly in recent years. It will grow from $45.78 billion in 2023 to $48.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to rise in advertising expenditure, increase in e-commerce penetration, increased availability of smartphones and growth in social media usage.

The digital advertising market size is expected to see strong growth in the next few years. It will grow to $63.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increasing internet penetration, increasing government support for digital advertising and rising urbanization. Major trends in the forecast period include focus on strategic collaborations and partnerships to improve their financial strength, focus on ai-powered apps for digital advertising, use of digital out-of-home (dooh) advertising campaigns to deliver advertising message to target audience, rising demand for interactive advertising for unique experience of something personal or engaging based on their own tastes, augmented reality (ar) to provide an interactive experience and introduction of 3d solutions in advertising campaigns.

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Segmentation & Regional Insights
The digital advertising market covered in this report is segmented –

1) By Platform: Mobile Ad (In-App And Mobile Web), Desktop Ad, Digital TV, Other Platforms
2) By Ad Format: Digital Display Ad, Internet Paid Search, Social Media, Online Video, Other Ad Formats
3) By Industrial Vertical: Media And Entertainment, Consumer Goods & Retail Industry, Financial Service & Insurance, Telecommunication IT Sector, Travel Industry, Healthcare Sector, Manufacturing & Supply Chain, Transportation And Logistics, Energy, Power And Utilities, Other Industrial Verticals

North America was the largest region in the digital advertising market in 2023. Asia-Pacific was the second largest region in the digital advertising market report. The regions covered in the digital advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The internet user base’s expansion coupled with self-service platforms is driving the global digital advertising market. The Internet is extensively used for e-commerce, e-learning, social connectivity, media, communication, and file transfers. According to Internet World Stats, as of June 2022, the number of internet users in the world is 5.385 billion, which accounts for more than 67.9% of the global population. In addition to this, the growing popularity of self-service advertising platforms is also the main contributor to the digital advertising market. Self-service advertising platforms are providing advertisers more convenience in the placement of their advertisements. The ease of being able to set up and administer their campaigns without the inconvenience of dealing with human intermediaries draws advertisers’ attention towards digital marketing. Therefore, an increase in the internet user base along with self-service platforms is driving the market.

Key Industry Players

Major companies operating in the digital advertising market report are Google, Meta Platforms, Inc. (Facebook), Amazon.com, Inc., Microsoft Corporation, Alibaba Group Holdings Limited, HULU LLC, Tencent, Saga Communications, Inc., Twitter, Inc., AdChina, Baidu Advertising and Sina Corp, S4 Capital, Dentsu International, PwC’s Digital Services, Accenture Interactive, Boostability (Berlin), SQ Digital, Gorilla Marketing, OTM, RMAA Group, Netpeak (Moscow), Webrentic, Slon Media (Moscow), 25wat, Jstokes, Thrive Agency, Sizmek Technologies Inc., ArnoldStreet, SocialMedia55, Hawk Media, El Cielo Digital – Sabemos de Marketing Digital, DieciseisOnce.com, SEOnet, Dicore Digital, Punto Rojo, Sherlock Communications, Centrico Digital, FP7 McCANN, Tonic International, MullenLowe MENA, Elephant Nation, BPG Group, Mars Media Group, Intango, Executive Digital, Pyramedia Group, 3points, Boopin, Maat Marcom Agency, Borarong Consulting, SyberGrupe, BlueMagnet, Rushing Tap, Watson Ferguson Marketing Agency

The digital advertising market report table of contents includes:

1. Executive Summary
2. Digital Advertising Market Characteristics
3. Digital Advertising Market Trends And Strategies
4. Digital Advertising Market – Macro Economic Scenario
5. Global Digital Advertising Market Size and Growth
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31. Digital Advertising Market Other Major And Innovative Companies
32. Global Digital Advertising Market Competitive Benchmarking
33. Global Digital Advertising Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Digital Advertising Market
35. Digital Advertising Market Future Outlook and Potential Analysis
36.Appendix

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