Discover the latest small business marketing statistics in 2024 from Wix and Vistaprint. Learn valuable insights and effective marketing strategies to stay ahead of the game.

During an August 2023 survey, approximately 14 percent of surveyed small or medium business (SMB) owners used artificial intelligence (AI) across marketing and/or social media. 36 percent of respondents said they would consider using AI in the future, while 35 percent stated they were not planning on using AI.

I have compiled a list of over 150+ digital marketing statistics to help you see how others are leveraging digital marketing for their own businesses today.

The size and share of this market is categorized based on Executive Coaching (Leadership Development, Performance Enhancement, Career Transition, Team Dynamics, Communication Skills) and Small Business Coaching (Startup Guidance, Marketing Strategy, Financial Management, Operational Efficiency, Sales Training) and Corporate Coaching (Change Management, Employee Engagement, Talent Development, Conflict Resolution, Strategic Planning) and Life Coaching (Personal Development, Work-Life Balance, Goal Setting, Stress Management, Relationship Coaching) and Health and Wellness Coaching (Nutrition Guidance, Fitness Coaching, Mental Health Support, Lifestyle Changes, Chronic Illness Management) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

US Tariff Impact on the Market

US tariffs could have a substantial impact on the global contextual marketing market, especially in terms of cost structures and international trade dynamics. With contextual marketing relying heavily on digital platforms, mobile devices, and software solutions, tariffs on technology imports and services could result in higher operational costs for businesses.

For sectors such as activity-based marketing, which accounts for over 51.3% of the market, tariff-related increases could range between 2% and 4%, potentially leading to higher prices for end consumers. The mobile device sector, crucial for contextual delivery, may face a 3-5% rise in component costs.

Furthermore, industries like retail and consumer goods, which hold a 23.7% market share, could see reduced profit margins due to tariff-related cost increases. While tariffs may also drive companies to consider domestic alternatives to avoid additional charges, they may be faced with challenges in maintaining the competitive pricing needed in the fast-evolving digital marketing sector.

Economic Impact

• North America, the leading market, could face higher prices for technology-driven services.
• Tariffs may disrupt global supply chains, impacting regions relying on imported digital tools.
• The US market could drive the localization of digital marketing technologies to mitigate tariff effects.

Geographical Impact

• North America, the leading market, could face higher prices for technology-driven services.
• Tariffs may disrupt global supply chains, impacting regions relying on imported digital tools.
• The US market could drive the localization of digital marketing technologies to mitigate tariff effects.

Business Impact

• Higher costs could reduce the margins for businesses heavily dependent on digital marketing.
• Companies may seek alternative suppliers or in-house solutions to minimize tariff impacts.
• Small and medium-sized businesses may struggle to adapt to increased operational costs.

US Tariff Impact Percentage for Impacted Sector

The US tariffs are expected to impact sectors such as activity-based marketing (2-4%) and mobile devices (3-5%) in terms of increased costs, which could affect both pricing and competitiveness. Retail & consumer goods may experience a 1-3% rise in operational expenses due to increased import costs.

➤➤➤ Get a sample copy to discover how our research uncovers business opportunities here @ https://market.us/report/contextual-marketing-market/free-sample/

To help you get the biggest takeaways from all of these digital marketing stats, I want to share some trends in marketing that’s working for businesses right now.

Handyman Services Market size was valued at USD 1.65 Billion in 2023 and is projected to reach USD 3.3 Billion by 2031, growing at a CAGR of 10% during the forecast period 2024-2031. Global Handyman Services Market Drivers The market drivers for the Handyman Services Market can be influenced by various factors. These may include: Increasing Urbanization: The rapid pace of urbanization is a significant driver for the handyman services market. As more people flock to urban areas for better job opportunities and living conditions, the demand for home repairs and maintenance increases. In cities, space is often at a premium, which can lead to older homes requiring more frequent repairs and renovations. Furthermore, urban dwellers tend to have busy lives, resulting in a reliance on professional services for tasks like plumbing, electrical work, and general repairs. This urban shift creates a continuous demand for handyman services, indicating growth potential in densely populated regions.

Aging Housing Stock: The aging housing stock in many regions is another critical factor propelling the handyman services market. As homes age, maintenance issues become more prevalent, leading homeowners to seek professional assistance for repairs and upgrades. Older homes often require specialized knowledge for renovations, and as homeowners become more aware of their properties' needs, the demand for skilled handyman services rises. This trend is particularly evident in developed nations where a significant proportion of residences were built decades ago. As a result, the ongoing need for upkeep provides sustained opportunities for handyman service providers in the marketplace.

Global Handyman Services Market Restraints Several factors can act as restraints or challenges for the Handyman Services Market. These may include: High Competition: The handyman services market faces intense competition from both established companies and independent contractors. This saturation can lead to price wars, reducing profit margins for service providers. Furthermore, new entrants may struggle to differentiate themselves, which can dilute brand identity and customer loyalty. The ease of entry for small start-ups adds to the challenge, as they often offer lower prices to attract customers. This competitive landscape necessitates that established players invest in marketing and customer retention strategies, ultimately driving up operational costs. As a result, companies must continuously innovate to maintain their market share while managing financial sustainability.

Regulatory Challenges: The handyman services market is often affected by varying regulations and licensing requirements across different regions. These regulatory frameworks can impose restrictions on the types of services offered, necessitating additional fees and paperwork for compliance. Failure to adhere to these regulations can result in legal penalties, loss of business licenses, or negative impacts on reputation. Additionally, ongoing changes in laws can require businesses to adapt quickly, incurring extra costs for training and adjustments. This regulatory burden can disproportionately impact smaller operators who may lack the resources to navigate complex legal landscapes, thus limiting their growth potential.

Copier Market size was valued at USD 8.1 Billion. in 2023 and is projected to reach USD 19.6 Billion by 2031, growing at a CAGR of 3.10% during the forecast period 2024-2031. Global Copier Market Drivers

The market drivers for the Copier Market can be influenced by various factors. These may include:

Increasing Demand for Color Printing: The rise of digitalization and high-quality printing requirements has fueled the demand for color copiers across various sectors. Businesses are leaning towards color documents to enhance presentations, marketing materials, and customer communications, which leads to an uptick in demand for advanced copiers. As firms recognize that color printing improves information retention and engages customers more effectively, they are investing in multifunctional printers that can handle high-volume color output. This trend is supported by technological advancements that reduce operational costs while improving output quality, making color copiers a critical asset for companies aiming to enhance their visual communication and branding.

Technological Advancements: Ongoing innovations in copier technology, such as cloud printing, mobile printing, and integration with Artificial Intelligence (AI), are significantly driving the copier market. Manufacturers are continuously improving copier functionalities to meet increasing operational efficiencies and user demands. Advanced features like automated workflow capabilities, enhanced security settings, and user-friendly interfaces are attracting both small and large enterprises. Moreover, the rise of IoT-enabled devices allows for seamless connectivity and remote operation, enhancing productivity. These technological developments not only streamline printing processes but also reduce downtime and maintenance costs, making advanced copiers more appealing to businesses striving for optimal performance.

Global Copier Market Restraints

Several factors can act as restraints or challenges for the Copier Market. These may include:

High Competition: The copier market is heavily saturated with numerous manufacturers offering a variety of products. This intense competition can lead to price wars, reducing profit margins for companies. Firms are compelled to invest heavily in marketing and R&D to differentiate their products, which further strains financial resources. Moreover, many consumers may choose lower-cost alternatives, undermining the value of premium offerings. As companies battle for market share, the focus might shift away from innovation and quality, resulting in a stagnant market. Consequently, firms need to adopt effective strategies to stand out and retain a loyal customer base amidst fierce rivals.

Digital Transition: The ongoing digital transformation is a significant restraint on the copier market. Businesses are increasingly adopting digital solutions like document management systems and electronic communication tools, reducing the reliance on physical copies. This trend is exacerbated by the rise of remote work and paperless offices, diminishing the demand for traditional copiers. Additionally, advancements in cloud technology allow for easy document sharing and storage, making traditional copiers less essential. As organizations embrace digital solutions, copier manufacturers must adapt to changing consumer preferences or risk declining sales and market relevance in the long term.

The Billboard & Outdoor Advertising industry has been navigating a complex landscape marked by significant ups and downs. The COVID-19 pandemic initially wreaked havoc, with a sharp decline in consumer spending causing many businesses to slash their advertising budgets. This downturn heavily impacted income for companies reliant on billboard and outdoor advertising revenue. However, as the economy began reopening and government aid boosted consumer spending, the industry experienced a resurgence. Companies increased their advertising budgets, driving revenues for billboard and outdoor advertising firms to impressive heights. Yet, the current challenge of high inflation and rising interest rates puts pressure on production costs, forcing outdoor advertisers to seek innovative solutions to maintain profitability. Over the past five years, the Billboard & Outdoor Advertising industry has faced a decline, overshadowed by the increasing allure of online advertising. While the post-pandemic recovery did offer a temporary boost, it couldn't offset the broader trend of advertisers shifting their budgets toward digital platforms. Online advertising's ability to offer precise targeting, real-time analytics and often lower costs makes it a more attractive option for businesses. This shift has been detrimental to traditional billboard advertising, which struggles to provide the same level of granularity and accountability. The slump has also been exacerbated by smaller billboard companies either going out of business or being acquired by larger players as they can't compete with the efficiency and appeal of digital advertising solutions. The industry's response through digital transformation, such as adopting digital billboards and integrating online features, reflects an earnest attempt to stem the tide, but these efforts have yet to fully reverse the downward trajectory. Overall, revenue for billboard and outdoor advertising companies is declining at a CAGR of 3.6% during the current period, reaching $8.8 billion in 2024. Revenue is expected to plunge 5.2% in that year. Advertisers will face severe challenges during the outlook period. More companies will advertise online since it's often less expensive, can reach more consumers and is better at targeting specific customers. This will siphon revenue from billboard and outdoor advertisers, creating significant malaise for industry enterprises. While the industry will be severely disrupted by the growing importance of the internet, steadily rising incomes will foster higher consumer spending and corporate profit, providing some revenue streams for companies. Overall, revenue for billboard and outdoor advertising companies is forecast to plummet at a CAGR of 7.3% over the next five years, reaching $6.0 billion in 2029, when profit is expected to make up 15.6% of revenue.

According to Cognitive Market Research, the global digital marketing platform market size will be USD 66251.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 19.90% 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 26500.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.1% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 19875.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 15237.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 3312.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.3% 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 1325.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.6% from 2024 to 2031.
The marketing automation is the fastest growing segment of the digital marketing platform industry

Market Dynamics of Digital Marketing Platform Market

Key Drivers for Digital Marketing Platform Market

Increasing internet penetration to drive market growth

The increasing penetration of the internet globally is significantly driving the digital marketing platform market. As more individuals gain access to the internet, businesses can reach a larger audience through various digital channels. This expanded reach allows for targeted advertising and personalized marketing strategies, enhancing customer engagement and conversion rates. With more consumers online, companies can leverage data analytics to understand customer behavior, preferences, and trends, further tailoring their marketing efforts. This driver not only boosts the effectiveness of marketing campaigns but also encourages businesses to invest in digital marketing platforms, fostering market growth.

Growth of social media platforms to boost market growth

The growth of social media platforms is a powerful driver of the digital marketing platform market. With billions of active users engaging on platforms like Facebook, Instagram, Twitter, and LinkedIn, businesses recognize the potential to connect with their target audience in meaningful ways. Social media enables brands to create interactive and engaging content, fostering community and customer loyalty. As companies increasingly prioritize social media marketing, they turn to digital marketing platforms for tools that facilitate content management, analytics, and customer engagement. This trend propels market growth as organizations seek to harness the full potential of social media for their marketing strategies.

Restraint Factor for the Digital Marketing Platform Market

Data privacy concerns limit market growth

Data privacy concerns pose a significant restraint on the digital marketing platform market's growth. With the rise of data breaches and increased scrutiny over data handling practices, consumers are becoming more cautious about sharing personal information. Regulations such as GDPR and CCPA have enforced strict compliance measures, impacting how businesses collect and use customer data. As companies navigate these complexities, many may face challenges in maintaining effective marketing strategies without infringing on privacy rights. This uncertainty can lead to reduced investment in digital marketing platforms, limiting their potential to fully engage and analyze customer interactions, ultimately restraining market growth.

Opportunity for the Digital Marketing Platform Market

The digital marketing platforms market has a new opportunity in AI-driven personalization.

With the usage of machine learning algorithms and AI, digital marketing platforms can provide highly personalized and targeted marketing experiences, enabling businesses to connect with their customers in more meaningful ways. This can be particularly valuable in industries such as retail, travel, and entertainment, where personalization is key to driving customer engagement and loyalty. By integrating AI-driven personalization, digital marketing platforms can help businesses to delive...

The Clothing Boutiques industry has faced significant headwinds, with the expansion of e-commerce and fluctuating disposable incomes impacting traditional brick-and-mortar sales. Despite a growing appetite for personalized and exclusive fashion items, many traditional boutiques have seen a dip in overall revenue as more business is conducted online. The industry's volatility underscores small retailers' challenges in maintaining foot traffic and sales amid these broader shifts. Boutique stores' revenue has decreased at a CAGR of 2.1% over the past five years and is expected to total $27.9 billion in 2024, when revenue will inch by an estimated 0.8%. Many shoppers now prefer the convenience and variety offered by e-commerce giants and fast fashion platforms over visiting physical stores. This trend has left many boutiques struggling to adapt. The volatile nature of per capita disposable income has also played a significant role in this drop. Economic uncertainties such as fluctuating inflation rates, rising interest rates and variable income levels have made consumers more budget-conscious, often prioritizing price and convenience over the bespoke experiences boutiques offer. Despite these challenges, some boutiques that successfully integrated online sales channels and leveraged social media marketing have stabilized or expanded their businesses. Technological advancements such as augmented reality (AR) for virtual try-ons and AI-driven personalized recommendations could offer a competitive edge to savvy boutique owners who implement them effectively. However, the relentless growth of e-commerce will continue to apply pressure. The industry's future will likely depend on how well boutiques can innovate and differentiate themselves, offering unique shopping experiences that cannot be easily replicated online. Those who successfully merge offline charm with robust online presences may find a path to sustained growth, but the road will be challenging and require constant adaptation. Revenue is expected to hike at a CAGR of 1.6% over the five years through 2029 to $30.2 billion.

Direct Mail Advertisers commonly provide a cheaper alternative to traditional advertising outlets, such as TV, radio and magazines, by delivering customized marketing materials and coupons straight to consumers' doorsteps via post. Even so, increasing competition from digital advertising threatens the industry. Digital advertising has ushered in highly personalized marketing strategies that lean heavily on digital platforms such as e-mail, websites and social media. This pivot toward digital channels has siphoned demand from traditional direct mail methods, a shift that's echoed in plunging print advertising expenditures and eroding revenue potential for the industry. These factors caused revenue to drop at a CAGR of 0.3% to $11.3 billion over the past five years, dropping 4.4% in 2025 alone as profit slides to 4.1%. Over the past five years, the share of advertising expenditures for direct mail advertising has decreased as the share of advertising spending for digital media has grown. Digital advertising reaches more consumers with increased targeting accuracy and lower costs than print advertising. As a result, total advertising expenditure continues to expand while spending on print advertising falls, harming the average profit margin. The rise in paper prices hasn’t helped, as it further squeezed profit, forcing companies to adopt cost-saving strategies such as optimizing mailing lists, using alternative materials and co-mailing campaigns. Despite the uphill battle, efforts have been made to leverage data-driven strategies and analytics to enhance targeting accuracy and campaign ROI. New technologies, such as quick response codes and direct mail triggers, have kept the industry relevant and integrated it with digital advertising, creating new business opportunities for direct mailers. Direct mail advertisers will boost merger and acquisition activity to control more of the declining market and prevent profit from depletion. This trend will benefit the industry's largest companies, which have the resources to provide high-quality services, integrate with digital advertising and acquire smaller advertisers. To stay afloat, companies must invest in technology that enhances personalization and find ways to optimize their operations against the backdrop of escalating costs. Collaboration with digital platforms and leveraging USPS incentives may offer temporary respite. Yet, the industry's long-term sustainability will rely on its ability to seamlessly incorporate digital solutions and adhere to stringent data privacy laws. Overall, a continued downward spiral in print advertising will dampen industry performance. Revenue will continue falling at a CAGR of 3.8% to $9.4 billion in 2030 as digital marketing tools continue to siphon demand away from the industry.

Revenue is forecast to edge up at a compound annual rate of 0.1% over the five years through 2024-25 to £4.4 billion. Painters' revenue tends to fluctuate in line with economic and investment trends. Economic uncertainty initially caused by the COVID-19 pandemic and later exacerbated by the Russia-Ukraine conflict reduced confidence in both businesses and consumers, triggering reduced spending and causing consumers to accelerate their uptake in DIY projects. However, supportive government policies aimed at the UK's housing market allowed painting contractors to expand revenue, limiting decline. Revenue dipped in 2020-21 due to the pandemic and subsequent disruptions caused by lockdown restrictions. Although revenue bounced back, the recovery rate has slowed due to significant inflationary pressures, which have spurred businesses and households to cut spending and keep budgets trimmed. Supply chain disruptions have resulted in inflated construction material prices, hitting painting contractors’ average profit margin. Also, persistent inflation has led the Bank of England to raise the interest rate, ramping up the cost of borrowing and, in turn, reducing investment opportunities from the residential and commercial market. Many home and small business owners have increasingly taken up their own painting projects to cut non-essential spending. However, as inflation slows, consumer and business confidence is reigniting, stimulating an increase in renovation projects and benefitting painters' revenue prospects. In 2024-25, revenue is forecast to grow by 3.3% Over the five years through 2029-30, revenue is expected to expand at a compound annual rate of 3.7% to £5.2 billion. Ongoing public sector support for housebuilding, infrastructure developments and public non-residential schemes will support long-term revenue prospects for painting contractors. However, lingering uncertainties will continue to drive the DIY trend into the short term, somewhat dampening revenue growth prospects. In the long term, stable inflation should lead to lower interest rates, which will stimulate greater investment in properties and help painting contractors secure more contracts.

During a 2022 survey, almost 82 percent of responding small and medium-sized businesses (SMBs) from the United States somewhat or strongly agreed that digital advertising was important for them. On the other hand, around five percent of respondents somewhat or strongly disagreed with that statement.

Business valuation firms experienced significant fluctuations recently due to economic disruptions. Following the onset of the pandemic, corporate profit plummeted as businesses struggled with reduced consumer spending, causing a drop in demand for key services like capitalization of income valuation. However, the landscape wasn't entirely dire. Government aid led to a surge in per capita disposable income, driving households to seek asset valuation and cash flow analysis services, which provided some relief and even growth for certain firms in 2020. The initial pandemic-induced downturn was reversed in 2021 with a significant rebound in consumer activity and corporate profit, leading to a 12.1% surge in providers’ revenue. Since 2022, elevated interest rates have dampened demand from businesses through heightened recessionary fears, which has also slowed growth in business valuation firms’ profit. However, positive GDP growth persisted. Since late 2024, falling interest rates have started to revitalize spending from the commercial sector as recessionary fears have begun to wane. Greater access to credit has also spurred more borrowing, aiding the industry over the past couple of years. Overall, revenue for business valuation firms has swelled at a CAGR of 5.1% over the past five years, reaching $2.8 billion in 2024. This includes a 2.4% rise in revenue in that year. Looking ahead, business valuation firms are poised to benefit from a recovering economy and shifts in consumer behavior over the next five years. Projected economic growth will likely increase M&A activity and corporate spending on valuation services. However, firms must brace for potential disruptions from policy changes, such as new tariffs that might impact economic stability. Additionally, rising competition from substitutes like accounting firms and automated software will pose significant challenges. Business valuation companies are expected to leverage artificial intelligence and advanced financial modeling to enhance service offerings, ensuring that they remain competitive in an increasingly digital and discount-focused marketplace. Overall, revenue for business valuation firms is forecast to mount at a CAGR of 3.4% over the next five years, reaching $3.3 billion in 2029.

According to Cognitive Market Research, The Global Baby Bibs market size is USD 1100 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030.

The demand for Baby Bibs is rising due to the influence of e-commerce and digital marketing and innovation in materials and design.
Demand for standard baby bibs remains higher in the Baby Bibs market.
The manufacturer/distributor/service provider held the highest Baby Bibs market revenue share in 2023.
North America will continue to lead, whereas the Asia Pacific Baby Bibs market will experience the strongest growth until 2030.

Customer Preferences Toward Eco-Friendly Fabrics to Redistribute Market Growth

A major driver of the baby bib market has been the movement in customer preferences toward eco-friendly fabrics. A greater understanding of environmental challenges on a global scale and parents' increasing willingness to make sustainable decisions for their kids have sparked this shift. Concerns regarding the environmental impact of the things they buy are growing among consumers. Baby bibs made of organic and biodegradable materials are in high demand as a result of this. Bamboo textiles, recycled fabrics, and organic cotton have grown in popularity among bib producers. These resources complement the greater social trend towards sustainable living in addition to appealing to parents who care about the environment. Additionally, parents who are concerned about their health find Baby Bibs' usage of eco-friendly materials appealing. For babies with sensitive skin, organic and natural materials are a safe option because they are frequently hypoallergenic and devoid of dangerous chemicals. Parents are, therefore, prepared to spend money on bibs made of these materials, which pushes the market toward eco-friendliness.

Increasing Focus on Precision Medicine to Validate Market Growth

The growing need for fashionable and personalized bibs is another significant factor propelling the baby bibs market. Bibs are no longer just considered practical accessories; for parents and other caregivers, they are a fashion statement and a way to represent who they are. A desire is pushing the market for infant products for personalized and distinctive items. Look for bibs with personalized patterns, names, or monograms to add a personal touch to mealtimes for their kids. Due to consumer demand, a specialized market of boutique and bespoke bib makers has emerged, providing a vast selection of design options. In addition, fashionable bibs featuring eye-catching designs, hues, and themes are becoming more and more common. Bibs are now regarded as an essential component of the baby's overall appearance because parents frequently match them with their infants' clothes. Because of this tendency, bib producers are now putting more of an emphasis on aesthetic design, creating a market full of aesthetically pleasing and stylish bib options.

Increasing popularity of online retailing is driving market demand

Market Dynamics Of the Baby Bibs

Market Saturation & Product Differentiation to Hinder Market Growth

The saturation of the market is one aspect of the competitive constraint. Items are abundant in the baby bib market due to the growth of manufacturers and companies. The market has been saturated with many businesses fighting for consumers' attention, making it challenging for new entrants to establish themselves. It gets harder for current players to sustain their profitability and market share. Prices are under pressure as a result of the competitive environment. Companies frequently engage in pricing wars, giving discounts and promotions to draw clients in an effort to outdo one another. Although this helps consumers by making things more affordable, it puts a strain on producers' profit margins. Smaller companies may be especially affected because they do not have the financial wherewithal to maintain protracted pricing wars. Another component of the competition restraint is product differentiation. Businesses spend a lot of money on marketing and new product development to stand out in a competitive market. This increases costs and makes the market more competitive overall. To stay relevant, businesses must constantly create new features or fashions, which might tax their resources and reduce profitability.

Impact of COVID-19 on the Baby Bibs Market ...

As of 2023, nearly 92 percent of digital leaders globally stated that their companies adopted cloud technology either on small or large scale. Big data/ analytics were the second most popular adopted technology with around 61 percent of respondents reporting the same. Artificial intelligence/ machine learning At the same time, 26 percent of respondents were considering using Artificial intelligence (AI) / machine learning (ML) technology, while 24 percent said that their companies were piloting the implementation AI/ML technology.

What is cloud computing?  

Cloud computing refers to the use of networks of remote servers accessed over the internet to store, manage, and process data. It offers customers access to a wide range of technologies while lowering costs and reducing the need for technical expertise. The cloud service market is divided into three primary service models encompassing infrastructure, platforms, and software. Customers are able to choose between private, public, or hybrid cloud deployment depending on their business needs and security concerns.

SaaS: the most widely adopted cloud solutions    

In line with increases in companies’ adoption of cloud computing technologies, the worldwide revenue generated from these technologies has increased rapidly in recent years. Software as a Service (SaaS) is the largest segment of the global cloud computing market with revenues forecast to be around 197 billion U.S. dollars in 2023. Popular applications of SaaS include customer relationship management and enterprise resource planning software.

The Advertising Agencies industry in Australia has experienced mixed performance over the past few years, driven by rapidly changing consumer preferences and fluctuations in economic conditions. Demand for traditional media, particularly print and broadcast advertising, has fallen significantly, while online and digital advertising has recorded strong growth, prompting sectorwide restructuring. Rising inflation and elevated interest rates weakened business confidence between 2021-22 and 2023-24, leading to temporary reductions in advertising budgets among many downstream clients and contributing to industrywide revenue falling at an annualised 0.2% from 2019-2020 to 2024-25. Revenue is projected to partially recover in 2024-25, growing 1.3% to reach $3.9 billion, supported by improvements in business confidence. Profit margins have expanded in recent years, driven by increased efficiencies. Agencies are increasingly using AI-driven advertising optimisation and digital billboard technologies to achieve higher returns on campaign budgets. Advertising agencies have pursued mergers and acquisitions to boost integrated service offerings, digital capabilities and competitive positions amid ongoing disruption from digital platforms. The December 2024 merger between Omnicom and Interpublic illustrates a trend towards greater market concentration and enhanced global competitiveness. Some businesses have begun intensifying competitive pressures on advertising agencies by adopting in-house advertising models, exemplified by Bunnings' March 2025 establishment of its internal advertising agency, Hammer Media. The ways advertising agencies implement strategies for clients to reach their audiences are changing. Mass media advertising's high costs and the fragmentation of consumer media viewing habits are prompting some clients to expand their below-the-line advertising, like targeted email, SMS and direct mail campaigns. New forms of media, alongside changing media usage trends, are also influencing advertising agencies' operating conditions. Advertising firms are responding to these trends by transforming their traditional advertising strategies. Most major and medium-size advertising agencies are developing or acquiring complementary public relations, market research and analytics, digital advertising, and web development businesses. Improving economic conditions, rising consumer sentiment and strengthening business confidence are expected to drive growth in advertising spending in the coming years. Digital and online advertising methods will continue outperforming traditional advertising segments. The rising adoption of AI will continue to reduce labour intensity, which will boost profit margins. Regulatory shifts, particularly tighter restrictions on gambling promotions, may require strategic adjustments for agencies targeting certain markets. Overall, industry revenue is forecast to expand at an annualised 1.7% through 2029-30, reaching $4.2 billion.

Handymen have seen a dramatic shift in trends and drivers, influenced heavily by the pandemic and economic fluctuations. As homeowners found themselves limited from spending on travel and dining out because of lockdown measures, many invested in their homes instead, bolstering growth. However, interest rate hikes and declining consumer confidence have dampened this growth trajectory, causing a dip in new home improvement investments. Revenue has been decreasing at a CAGR of 1.0% over the past five years to total an estimated $273.6 million in 2024, including an estimated increase of 0.9% in 2024. The pandemic, especially in 2020 and 2021, was a boon for handymen, as homeowners prioritized renovation projects to elevate their home environments. However, market dynamics shifted with rising interest rates in 2022 and 2023, leading to subdued growth. Larger, franchised handyman companies have borne the slowdown better than independents, thanks to stronger brand recognition and diversified service offerings. Meanwhile, independent handymen have struggled to maintain customer bases, often relying heavily on word-of-mouth for new clients. Competition intensified as consumer priorities became more price-conscious because of economic uncertainties, forcing many handymen to accept lower prices and sacrifice profit to secure business. Looking ahead, the future for handymen appears cautiously optimistic, especially as the Federal Reserve has begun to cut interest rates in 2024, potentially revitalizing consumer confidence and business sentiment. These changes are expected to spur private spending on home improvements, driving demand for handyman services. The construction sector is also set to recover, with larger projects likely subcontracting handymen for specific tasks. This context, combined with an aging housing stock that necessitates ongoing maintenance, presents a fertile ground for the handymen. Also, technological advancements in online booking platforms and app-based service tracking will enhance the customer experience, benefiting companies that adapt swiftly to these innovations. While discretionary spending on home improvement might not soar to pandemic levels, the overall trend indicates steady growth bolstered by economic recovery and technological integration. Revenue is forecast to increase at a CAGR of 1.2% to total an estimated $290.8 million through the end of 2029.