Business-to-business (B2B) digital advertising spending in the United States was projected to increase by 18.2 percent in 2022, following a 39.1 percent growth in 2021. B2B ad expenditure in the U.S. was estimated to reach 18.5 billion U.S. dollars by 2024.

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.

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.

Using data from Polly sourced from an independent sample of 8,869,464 people from Twitter, Reddit and TikTok worldwide from March 18th 2023, to March 18th 2024, we compared what marketers thought content marketing engaged people the most vs actual. The results were Podcasts (51% vs 10.5% predicted by marketers), Online Courses (14% vs 0% predicted), Blogs (10.4% vs 4.5% predicted) and others . This report has a breakdown by gender, age and worldwide region.

During a survey published in November 2023, 25 percent of responding global brands stated they were planning to significantly increase their retail media budgets in 2023. Another 35 percent said they were planning to slightly increase them.

During a survey conducted in the United States in the first quarter of 2024 among marketers working at organizations running print marketing campaigns, 62 percent of respondents reported using personalized print materials for targeted messaging to overcome the challenges of digital marketing fatigue. Around 46 percent said they handled such hurdles by integrating print with digital campaigns for cross-channel engagement.

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.

Introduction

Digital Marketing Statistics: The way we shop, research, and connect with businesses has changed. In today's world, digital marketing reigns supreme. But what exactly does that mean, and why should you care? This article will guide you effectively as it includes all current trends and statistical analyses of 2023 and 2024, which are obtained from several insights. So, let's buckle up because we're diving into the fascinating world of digital marketing statistics to show you why it's more important than ever.

Global data from Polly for 12 months up until 29th February 2024 with a sample size of 732,421 people to gain deeper insights into current perceptions of B2B marketing, showing that the priorities in 2024 are socil media (43%), CRM (28%), SEO (12%) and Analytics Report (2.8%). This report has a breakdown by gender, age and worldwide region.

According to Cognitive Market Research, the global Digital Marketing Analytic market size will be USD 4518.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 20.90% from 2024 to 2031.

North America held the major market share, more than 40% of the global revenue, with a market size of USD XX million in 2024. It will grow at a compound annual growth rate (CAGR) of 1.6% from 2024 to 2031.
Europe accounted for over 30% of the global USD XX million market size.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031.
The Middle East and Africa held the major market share, around 2% of the global revenue, with a market size of USD XX million in 2024. The market will grow at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.
Social media marketing held the highest Digital Marketing Analytics market revenue share in 2024.

Key Drivers of Digital Marketing Analytics Market

Various Strategies Adopted by Key Players to Provide Viable Market Output

The Digital Marketing Analytics market is experiencing significant growth due to various strategies adopted by key players. These include investing in advanced analytics technologies such as artificial intelligence and machine learning, enhancing their product offerings with features like predictive analytics and real-time data visualization, expanding their global presence through partnerships and acquisitions, and focusing on customer-centric approaches to improve user experience and satisfaction. Overall, these strategies help companies stay competitive and meet the evolving needs of the market.

For instance, in May 2023, Mixpanel propounded the launch of marketing analytics. It enables brands to get insights into the channels that drive new user mergers through multi-touch attribution. It also helps brands increase their return on advertising spend by monitoring the performance of channels and campaigns. It allows brands to get their most valuable customer segments by finding demographic or behavioral cohorts.

(Source: https://mixpanel.com/blog/mixpanel-marketing-analytics/)

Rising Influence of Social Media to Propel Market Growth

The digital marketing analytics market is experiencing growth due to the influence of social media. As social media platforms continue to gain more, businesses are relying on them to connect with customers, get brand awareness, and drive sales. Consequently, there's a growing need for advanced analytics tools to track social media performance, engagement metrics, customer sentiment, and ROI. These analytics provide invaluable insights that enable companies to refine their marketing strategies, optimize campaigns, and enhance overall effectiveness in leveraging social media platforms for business growth. Thus, the escalating importance of social media underscores the increasing demand for sophisticated digital marketing analytics solutions.

For instance, in 2020, McDonald's India North and East started a social media advertisement campaign, McGrillis Back, to capture a major revenue share in the Quick Service Restaurant market. It helped the company gain 24,000 posts on Twitter and more than 200 followers on Instagram.

(Source: https://www.afaqs.com/news/advertising/mcdonalds-india-north-east-strikes-a-chord-with-its-new-campaign-we-get-it)

Restraint Factors of Digital Marketing Analytics Market

Lack of Skilled Talent to Restrict Market Growth

The digital marketing analytics market faces a challenge due to a need for more skilled talent. This scarcity hampers the effective utilization of analytical tools and platforms, hindering businesses from extracting valuable insights to optimize their marketing strategies. With skilled personnel adept at interpreting and applying analytics, organizations can leverage data-driven decision-making processes effectively. Addressing this talent gap through training programs and educational initiatives is essential to unlock the full potential of digital marketing analytics and drive business growth in the digital landscape.

Impact of COVID-19 on t...

Video Marketing Statistics: Looking at the technological developments, as well as the lockdown era, companies have shifted from traditional advertising to modern techniques such as video marketing. As of 2023, the global video advertising market is valued at $177 billion and is expected to reach $230 at a CAGR of 6.80% by 2027. Video advertising is the easiest way to represent the brand as well as capture new customers. Today, video advertising has spread to each corner of the world, and thus these Video Marketing Statistics are focused on global insights. Editor’s Choice Video marketing creates 300x more traffic to the website as compared to other forms of content marketing. According to Video Marketing Statistics, 26% of marketers believe the best video duration for live video is 7 to 9 minutes. The best results for video marketing are generated only from a video of 15 to 30 seconds. 57% of the marketers use live video technique out of which 34% belong to Facebook and 13% goes for Instagram. 62% of the consumers are likely to change their opinion about the brand if the video is streamed in low quality. 80% of the customer journey is likely to start from watching a brand video on YouTube. By 2024, it is expected that mobile will capture 73% of the video ad spending. The most preferred type of video marketing by marketers is explainer video resulting in 72%, followed by Presentation videos (49%), Testimonial videos (48%), Sales videos (42%), and Video advertisements (42%). 71% of the video searches that belong to the travel section are in the names of travel destinations. 84% of the customers prefer to interact with their favorite brands by means of branded video content. Around the world, total internet users on average have watched 5 billion videos by 2023.

Spending on internet advertising in North America amounted to nearly 192 billion U.S. dollars in 2021. According to forecast data, online ad expenditures in the region will suffer less than other media in light of the coronavirus outbreak in 2020, and will rebound by 2024 to reach 269 billion dollars.

Content marketing is a core part of a digital marketing strategy. 62% of marketers plan to increase content marketing budgets within the next fiscal year.

Editor’s Choice A/B testing can achieve statistical significance with as low as 5,000 unique visitors. Around 77% of firms worldwide conduct A/B testing on their websites. 60% of companies use A/B testing on their landing pages. The global A/B testing software market is projected to be valued at USD1.08 billion by 2025. Nearly 44% of businesses utilize split testing software. Only 7% of companies find A/B testing difficult to perform. Approximately 52.8% of Conversion Rate Optimization (CRO) professionals lack a standardized stopping point for A/B testing. Improved User Experience (UX) design resulting from A/B testing can potentially boost conversion rates by 400%. One out of every eight A/B tests leads to a significant change. 59% of firms conduct A/B testing on their email marketing campaigns. In the US, 93% of companies perform A/B tests on their email marketing. Simple subject lines attract 541% more responses than creative ones. Bing saw a 10-25% increase in revenue per search after conducting A/B tests. The A/B testing software market was valued at USD516.50 million in 2020 and is expected to reach USD1.24957 billion by 2028. 58% of companies use A/B testing for conversion rate optimization. 57% of A/B testers stop experiments upon reaching the expected results. 85% of businesses prioritize call-to-action triggers for A/B testing. 39% of companies use A/B tests on email subject lines, content, date and time, and preheaders. 71% of companies experiencing significant sales increases test their landing pages before publishing. Dell reported a 300% increase in conversion rates from A/B testing. Bing reportedly conducts over 1,000 A/B tests monthly. In Europe, only 20% of companies conduct A/B tests on their email marketing. You May Also Like To Read SEO Statistics B2B Marketing Statistics Affiliate Marketing Statistics Digital Marketing Statistics Infographic Statistics Video Marketing Statistics Landing Page Statistics SMS Marketing Statistics Facts About A/B Testing Statistics A/B testing is a widely used method, with 72% of companies incorporating it into their marketing strategies. Businesses primarily utilize A/B testing for website optimization, with 67% employing it for this purpose. Approximately 56% of organizations conduct A/B tests on email campaigns to enhance engagement and conversion rates. Challenges persist in A/B testing implementation, with 49% of companies facing difficulties due to limited resources. Despite its effectiveness, only 23% of businesses believe they have mastered A/B testing techniques. A/B testing can yield significant improvements, with 72% of companies reporting a boost in conversion rates through optimization efforts. Companies allocate a substantial portion of their budgets to A/B testing, with an average expenditure of USD 350,000 per year. The majority (81%) of marketers consider A/B testing crucial for understanding customer behavior and preferences. A/B testing is not without challenges, as 37% of companies struggle with data analysis and interpretation. The rapid evolution of digital technologies underscores the importance of A/B testing in staying ahead of competitors and meeting evolving consumer expectations.

Report Overview

The Global Digital Marketing Market size is expected to be worth around USD 1,310.3 Billion by 2033, from USD 366.1 Billion in 2023, growing at a CAGR of 13.6% during the forecast period from 2024 to 2033.

Digital marketing has revolutionized the way businesses promote their products and services in the modern era. It encompasses various online strategies and channels to reach and engage with target audiences, leveraging the power of the internet and digital technologies. Digital marketing offers a range of advantages over traditional marketing methods, including greater reach, cost-effectiveness, targeting capabilities, and real-time measurement of campaign performance.

The digital marketing market continues to expand rapidly, fueled by the growing reliance on digital platforms for information, entertainment, and commerce. Organizations across industries are increasingly allocating a larger portion of their marketing budgets to digital channels to capitalize on the opportunities presented by online connectivity and data-driven strategies. As businesses seek to enhance their online presence and maximize their reach in an increasingly competitive digital landscape, the demand for digital marketing services and expertise is expected to soar.

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According to data from the World Advertising Research Center (WARC), the global digital advertising spend is expected to reach $526 billion in 2023, showing steady growth from the estimated $491 billion in 2022. This upward trend indicates the continued importance and investment in digital advertising by businesses worldwide.

Among the various segments of digital advertising, search advertising remains the largest, commanding over 40% of the market share. This is followed by social media advertising and video advertising, which have gained significant traction in recent years due to the popularity of platforms like Facebook, Instagram, YouTube, and TikTok.

When it comes to the major players in the digital advertising market, Google and Meta (formerly known as Facebook) dominate, collectively accounting for over 50% of the global digital ad market. These tech giants have established powerful advertising platforms that provide extensive reach and targeting capabilities for advertisers. Additionally, Amazon’s advertising business has been rapidly growing, becoming a significant player in the digital advertising landscape.

Venture capital (VC) funding for adtech companies in 2022 reached an impressive $14 billion across 564 deals globally, as reported by Pitchbook. This indicates the strong investor interest in the adtech sector. Ecommerce advertising, streaming/CTV (Connected TV), and privacy-focused marketing technologies are some of the major areas attracting significant investment.

In terms of funding rounds, notable adtech companies received substantial investments in 2022. Verizon Media secured $1.2 billion, OpenX raised $110 million, Profitero received $100 million, and Impact obtained $75 million. These funding rounds highlight the confidence investors have in the potential of these companies and their ability to drive innovation in the digital advertising industry.

Mergers and acquisitions (M&A) activity has also been vibrant within the adtech sector. For instance, Roku’s acquisition of Dataxu for $150 million and ProSiebenSat.1’s acquisition of Meet Group for $500 million demonstrate the strategic moves made by companies to expand their capabilities and market presence.

The global digital marketing market size reached US$ 366.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,029.7 Billion by 2032, exhibiting a growth rate (CAGR) of 11.8% during 2024-2032. The increasing penetration of connected devices, easy access to high-speed internet, and ongoing technological advancements are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the global digital marketing market, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on the digital channel and end use industry.

During a winter 2023/24 survey carried out among advertising and data decision-makers at brands, agencies, and publishers from the United States, 54 percent of respondents stated they were planning to spend more on connected TV as a result of privacy legislation and/or signal loss (third-party cookie deprecation). Creator/influencer marketing, paid search, and social media were also named by at least half of the respondents.

In 2023, digital advertising in France was estimated at 11.53 billion euros and the source projected, the expenditure would increase approximately 8.2 percent to reach 12.48 billion in 2024. A thriving industry with new ideas…

As we spend more and more time online, companies had to adapt their strategy to reach new customers through new channels. Online marketing is varied and includes social media marketing, display advertising, email marketing and mobile advertising. French active Internet users indeed amounted to 54.5 million people in 2018 and that number is projected to reach 59.5 million individuals by 2023. In 2017, digital advertising expenditure reached the level of 4.1 billion euros, and it was expected to increase up to 4.4 billion euros in 2018.

… and new challenges

However, if digital advertising managed to attract advertising agencies thanks to its low price and highly focused and targeted approach, customers are much less convinced. Some practices have indeed been criticized by Internet users in recent years. Many of them stated finding digital advertising disruptive and that they were easily annoyed by it. Almost a third of Internet users have installed ad blocks to that effect, stating that online marketing disrupts navigation and is becoming more and more repetitive.

With a major chunk of the world’s population relying on the Internet for their day-to-day operations and spending, digital marketing is rapidly gaining prominence, especially in businesses with the B2C model. This has taken the digital marketing analytics market’s expected valuation to a staggering US$ 6,979.7 million for 2024. Dedicated teams in corporations, institutes, and certifications associated with digital marketing analytics have also bolstered market growth in recent times.

Category-wise Insights

Country-wise Insights