During a November 2021 survey carried out among marketers from 10 countries worldwide, 38 percent of respondents stated that driving decision-making with customer insights was one of the leading challenges they faces with digital advertising. Attributing marketing performance to individual programs, campaigns, or channels ranked second, named by 35 percent of respondents.

Key Digital Marketing Statistics

• Digital Marketing Market size is expected to be worth around USD 1,310.3 Billion by 2033, from USD 366.1 Billion in 2023.
• By the year 2023, digital advertising is anticipated to hit $602.25 billion.
• Search Advertising comprises the biggest segment, with a market volume of $202.40 billion.
• Expected to spend $232.7 billion on ads, the United States will be leading globally.
• The expected mean expenditure on social media advertising by every user in 2023, is $45.11.
• The proportion of smartphone-related advertising expenses is predicted to be 69% by 2026.
• The projected estimate for programmatic advertising contribution to digital advertising revenue is around 87% by the year 2026.
• A projection of 17 compound annual growth is expected for digital marketing. There will be a 6% decrease between 2021-2026.
• By 2023, social media advertising will exceed $230 billion.
• Facebook and Google Ads have the highest ROI rate in paid advertising.
• Digital advertising spending in 2021 was $436 billion US dollars. Traditional advertising was at $196 billion.

(Source: Statista, WordStream)

According to a survey conducted in December 2021 in France, Germany, the United Kingdom, and the United States, 51 percent of responding senior company decision-makers stated that they used local SEO management in relation to their physical marketing activities and locations. Another 49 percent stated that inventory promotion and social media posting were additional digital activities that their companies do in order to achieve hybrid customer experiences.

It was calculated that the digital advertising spending worldwide amounted to 549.51 billion U.S. dollars in 2022. The source projected that by 2027, the spending would reach 870.85 billion dollars.

Advertising spending - additional information

Advertising can utilize almost any form of media to meet its needs. Media including print, television, radio, cinema, outdoor, mobile and digital have all been targeted by advertisers. Global advertising spending has been constantly increasing (with the exception of 2020) since 2010, and is forecast to round up to nearly 856 billion U.S. dollars in 2023. Due to advances in technology and consumer preferences, not all media are as heavily invested in as others. As of 2022, the internet was considered the most important medium for advertisers, accounting for 62 percent of total media ad spend in 2022. Internet expenditures are projected to record a growth of 8.4 percent in 2023.

Digital advertising spending worldwide – which includes both desktop and laptop computers as well as mobile devices – stood at an estimated 522.5 billion U.S. dollars in 2021. This figure is forecast to constantly increase in the coming years, reaching a total of 835.82 billion U.S. dollars by 2026. Mobile internet advertising is a heavily invested sub-sector of the digital advertising industry. Mobile internet advertising spending is forecast to increase from 276 billion U.S. dollars in 2020 to nearly 495 billion U.S. dollars in 2024. Following this pattern, mobile advertising spending in the U.S. is also forecast to grow in the coming years. Mobile ad spending in the U.S. is projected to gain nearly 25 billion U.S. dollars in 2023.

In a survey conducted between January and February 2022, over 77 percent of responding marketers from the United Kingdom indicated that they had invested in data analytics to improve digital marketing in 2021; only 19.4 percent of responders invested in improving their app.

During a 2021 survey carried out among marketers in the United States, it was found that increasing brand awareness was the leading goal of social media marketing activities, named by 58 percent of respondents. Community engagement ranked second, mentioned by 41 percent of interviewees.

During a survey conducted among marketing professionals from the United States in January 2021, 32.5 percent of respondents stated that they believed that the contribution of digital marketing to their company's performance was very high.

A 2021 survey of global SMS found that 36.1 percent of respondents believed that e-mail marketing was the most effective id driving sales for them. At the same time,18.9 percent of SMBs thought that social media marketing was best at driving sales.

According to Cognitive Market Research, the global Digital Billboard Advertising market size will be USD 39142.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 15657.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 11742.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 9002.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1957.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 782.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
The One-Sided Digital Billboard category is the fastest growing segment of the Digital Billboard Advertising industry

Market Dynamics of Digital Billboard Advertising Market

Key Drivers for Digital Billboard Advertising Market

Growing Use of Digital Marketing to Boost Market Growth

The market for digital billboard advertising is anticipated to rise in the future due to the growing use of digital marketing. The use of digital platforms, channels, and technology to market goods, services, or brands to a specific audience is known as digital marketing. Digital billboard advertising may be made more targeted, interactive, and engaging with the help of digital marketing. Businesses can use this to gauge the success of their campaigns and connect with the people who are most likely to be interested in their goods or services. For instance, the US-based cloud SEO rank tracking solution company Ranktracker reported in October 2022 that digital marketing spending grew by 14% in 2020 and 2021 and that the industry is expected to grow by 9% a year. Additionally, the US-based computer software giant Oracle Corporation predicted in 2021 that global spending on digital advertising will increase from $378 billion in 2020 to $646 billion by 2024. As a result, the market for digital billboard advertising is expanding due to the growing use of digital marketing.

(Source:https://www.ranktracker.com/blog/the-77-statistics-for-digital-marketing-in-2022-you-need-to-know/)

Expansion of the Food Service Sector to Drive Market Growth

Another important factor influencing the market for digital billboard advertising is urbanization. The growth of metropolitan regions and the subsequent increase in urban population have increased both pedestrian and vehicular traffic. This has increased the need for out-of-home advertising venues, and because of their effect and visibility, digital billboards are the perfect medium. Digital billboards are an integral part of multi-channel advertising campaigns because of their high frequency and reach in highly populated urban areas. Additionally, the growth of smart cities is encouraging the use of digital billboards as more towns look to incorporate technology into their public infrastructure, including advertising.

Restraint Factor for the Digital Billboard Advertising Market

Competition from Alternative Packaging Materials, such as Plastics and Styrofoam, will Limit Market Growth

Significant obstacles are presented by regulatory issues, especially with regard to digital billboard advertising. To reduce visual pollution and maintain traffic safety, certain countries have strict laws governing the positioning, brightness, and content of digital billboards. To avoid fines and limitations, advertisers need to traverse various regulatory environments carefully. Furthermore, because advertisers must constantly adjust to new technologies and customer expectations in order to stay competitive, the quick speed of technological development can present both opportunities and threats. Additionally, certain firms, especially smaller ones, may be discouraged from utilizing digital billboards due to the initial investment and ongoing maintenance costs, which could restrict the digital billboard advertising market expansio...

During a 2021 survey among 8,227 marketers worldwide, 48 percent of respondents said their digital engagement strategy and their workplace strategy completely changed since before the onset of the COVID-19 pandemic. Organizational challenges completely changed according to 47 percent of respondents, while both organizational priorities and workflows and processes were cited by 45 percent.

During a survey, 19.35 percent of responding marketers from the United Kingdom stated they were going to increase their spending on paid social media marketing in 202; paid Google marketing ranked second with 18.75 percent.

During a survey carried out in November 2021 among marketers from 10 countries worldwide, 45 percent of respondents stated that balancing data privacy requirements and expectations with the right level of personalization was the largest challenge they faced when using data in digital advertising. Creating a single view of the customer with other marketing channels ranked second, named by 43 percent of the interviewed.

During a 2021 survey carried out among small businesses in the United States, 45 percent of respondents stated that they paid for digital advertising. The average spending amounted to 534 U.S. dollars monthly, and 93 percent were planning to keep or increase it over the following 12 months.

In 2021, the global social media analytics market was valued at roughly seven billion U.S. dollars. It was expected to grow to 8.5 billion in 2022 and surpass 26 billion dollars in 2028. Social media analytics tools are used, among others, to manage customer experience, as well as marketing management, and to gain competitive intelligence.

Every year billions of dollars are spent on advertising on social media in the United States. In 2022, the amount reached 66 billion U.S. dollars, and included paid advertising on social networks as well as games and applications on social media. By 2025, advertisers are expected to spend over 82 billion dollars on promoting their products on social networks. Facebook commands the lion’s share of these expenditures (more than 80 percent), followed by LinkedIn and Pinterest with four and two percent respectively. Social network advertising – a closer look   Studies show that a little over 90 percent of U.S. companies are and will be using social media for marketing purposes. In 2017, social messaging and video were thought to be the trends of the future in relation to social media advertising and believed to have the biggest effect on marketing strategies. Lo and behold, advertising spending on social video has been growing ever since, and is expected to amount to nearly 15 billion U.S dollars in 2021. Even in this respect, Facebook has the lead, especially when it comes to influencer marketing. In fact, all tiers of influencers - from microinfluencers to celebrities - post the majority of their videos on Facebook. The second choice of platform to share their videos is YouTube, which despite being 'the' video sharing platform is not as popular yet among influencers most probably due to smaller user reach.

In 2021, the market for artificial intelligence (AI) in marketing was estimated at 15.84 billion U.S. dollars. The source projected that the value would increase to more than 107.5 billion by 2028.

What is AI and who uses it?

Artificial intelligence (AI) has become one of the most impactful digital innovations of the past few decades. The term refers to the ability of a computer or machine to mimic the competencies of the human mind, with the current ecosystem consisting of machine learning, robotics, artificial neural networks, and natural language processing. All of these features and algorithms are highly versatile and adaptable to the specific requirements of the user, explaining why they have become embedded into many different industries, ranging from telecommunications and financial services to healthcare and pharma. Overall, the global artificial intelligence market was valued at around 327 billion U.S. dollars in 2021.

AI at the marketing wheel

AI is deeply embedded into the digital marketing landscape, and based on the latest reports, more than 80 percent of industry experts integrate some form of AI technology into their online marketing activities. This vast adaptation of artificial intelligence for marketing purposes is no surprise considering that its benefits include task automation, campaign personalization, and data analysis, to name but a few. When asked about marketers' main application areas of AI in a recent survey, roughly 50 percent of respondents from the U.S., Canada, the UK, and India mentioned ad targeting. Other popular activities they trusted AI with included personalizing content, optimizing e-mail send times, and calculating conversion probability.

During a September 2024 survey among marketing leaders at for-profit companies in the United States, respondents reported allocating, on average, 12.1 percent of their budgets to social media marketing, up from 11 percent at the beginning of that year. They also projected that social media would account for over 19 percent of their companies' marketing budget within five years.

It is projected that digital advertising expenditures in the United States will increase by 50 percent between 2024 and 2028. In that five years period U.S. digital ad spend will grow from 303 to 452 billion dollars. These figures will represent roughly 45 percent of global digital ad spending, which is expected to reach some 871 billion U.S. dollars in 2027, up from the 506 billion recorded in 2021.

Mobile advertising in the U.S.

With mobile growing in strength, sources predict that it will account for the lion’s share of total digital spending in the United States. In 2023, roughly 195 billion U.S. dollars is forecast to be spent on mobile ads in the country. Sometime in early 2017 a clear change was seen in allocation of marketing dollars, when U.S. industry professionals started increasing the share of their budgets devoted to mobile marketing. Since then, a growing focus on this medium is evident. While mobile advertising is becoming more popular, marketers still have some concerns with its execution, mainly when it comes to data quality and sourcing, as well as measurement issues. All in all, those who decided to spend on mobile have been shifting away from display ads and towards video advertising since early 2018.

During a survey conducted among marketing professionals from the United States in January 2021, the average contribution of marketing to performance of companies in the education industry was rated at six out of seven, where seven means very high.

During a 2021 survey carried out among senior marketers from the United States, 51 percent of respondents stated that third-party cookies were very important for their current marketing strategy as they made up a majority of the data their company used. On the other hand, 10 percent stated they never used third-party cookie data and this the cookie were not important for them at all.