Digital Marketing Expected to Triple
Global Digital Marketing Revenues
(In Billions of USD)
CAGR 13.1%
1,100
Fueled by growing social media usage and the rising penetration of internet services, the digital marketing industry reached $363.1 billion in 2023 . It is expected to grow at 13.1% CAGR from 2024 to 2032 to reach a value of $1.1 trillion by 2032 . North America remains a prominent market region and is projected to sustain its leadership in the forecast period — the number of digital agencies in the US has grown 54% from 2018 to 2023 while also increasing in average size. The region is known for its technological advancements in both commercial products and creative solutions, which foster significant opportunities within the industry. Key trends for the coming years are emerging clearly. Most importantly, marketers will seek better visibility into spend performance with a universal increased emphasis on ROI measurement and marketing attribution. Advertising firms will likely lead experimentation with GenAI, bringing new efficiencies and solutions while solidifying agencies as a cost- effective, flexible solution.
363
2023
2032F
Source: Promethean Research.
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