Global Digital Marketing Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Global Digital Marketing Market Insights

• The growth in the digital market in the Asia Pacific is expected during the period between 2024 and 2032.
• Between 2024 and 2032, India will foresee strong growth in the digital market.
• Interactive consumer Websites would keep on holding the largest share in the digital channel market between 2024 and 2032.
• The Australian Bureau of Statistics noted a 7.8% increase in digital activity worth $8.6 billion in 2020-21 in Australia, thereby boosting the growth of digital marketing market.
• In 2023, China's 1.076 billion mobile internet boosted the global market for digital marketing significantly, CNNIC reported.
• The World Bank highlighted that 63% of the global population using the internet in 2021 propelled growth in digital marketing.

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Digital Marketing Market Trends

Rapid growth of mobile commerce to bolster growth

Mobile commerce, or m-commerce is blowing up, with more and more buyers turning to smartphones and tablets to shop. According to digital marketing market analysis, mobile commerce accounted for about 70% of global e-commerce sales in 2023 and is projected to reach 78% by 2025. Driving this trend are improvements in mobile technologies, better user experiences, and increased usage of mobile payment solutions. 

For example, Amazon and Alibaba aligned their platforms to be mobile-friendly by improving the interface of the mobile application and by providing smooth payment processes. As a result, sales through mobile have improved in both companies. In countries like India, because of improved access to the mobile internet, recent improvement in m-commerce is observed, where more than 50% of online retail sales are currently made via mobile devices.

Personalisation and artificial intelligence is taking the centre stage

With AI into play, the digital marketing market is showing a trend towards personalization of the user experience in order to engage more customers. AI-driven tools analyse user behaviour, preferences, and past interactions to offer customised content and recommendations. For example, Netflix uses AI algorithms for show recommendations based on viewer history, enhancing users' satisfaction and increasing engagement. Epsilon reports that 80% of consumers say they are more likely to make a purchase from a brand offering personalised experiences. AI-powered systems help businesses enhance their customer service by implementing chatbots and virtual assistants that can offer instant support and personalised responses, thereby changing the game in customer engagement and bolstering digital marketing demand.

Industry News

May 22, 2024

Acquia has upgraded its digital experience platform with Acquia Digital Experience Optimization (DXO), integrating Monsido for site governance and accessibility and Acquia SEO and Convert for improved content relevance and search performance.

August 08, 2023

Animeta, an AI-driven creator technology firm, introduced 'Animeta Brandstar,' an influencer marketing platform designed to assist brands in executing campaigns with the most suitable creators, addressing visibility and control issues in digital advertising.

Historical Market Analysis

In the past five years, the industry of digital marketing has seen tremendous development due to rapid and progressive development with regard to technological advancement, change in attitude, and preferences of consumers. From traditional online ads and email marketing which started off five years ago, to today sophisticated digital strategies being promoted by today's market, including programmatic advertising and influencer marketing. Such a shift was accelerated by the growing number of users on social media platforms and mobile devices, pushing the digital marketing market revenues ahead. 

The pace in the market is accelerating currently, integrating artificial intelligence and machine learning to allow highly personalised marketing campaigns along with real-time analytics. Growth is driven by increased intoxication of more developed features such as automated content creation, predictive analytics, and advanced customer segmentation. The power of these innovations enables businesses to drive more focused and effective marketing to deliver better engagement and better return on investment.

The global digital marketing industry growth is driven by the fast-increasing access to the Internet globally, which is driven by the wide use of smartphones and other smart devices. Social media platforms, such as Instagram and Facebook, are key players that provide a direct opportunity for businesses to reach their target audience, hence compelling business ventures to run active social media pages through which direct customer interaction is facilitated.

The revenue of Meta increased from USD 117,929 million in the year 2021 to USD 134,902 million in 2023, which is primarily covered by advertising, therefore showing a developing opportunity within digital marketing.

Opportunities in the Digital Marketing Market

AR experiences engage customers; scaling involves tech investment and integration.

Augmented reality experiences represent the new frontier of digital marketing opportunities. Brands can use AR to create immersive experiences which enable their customers to interact with them in new ways. For example, furniture retailers-IKEA being one of the most well-known-have been deploying AR through their apps to let customers visualise what the product would look like in their own homes before they buy it.

To seize the digital marketing opportunities, businesses can extend AR applications to more touchpoints, anything from virtual try-ons for fashion to interactive ads and product demos driven by AR. Companies investing in AR technology can further integrate it into their digital strategies to make themselves stand out and improve customers' engagement, driving higher conversion rates. Scaling AR involves some degree of collaboration with tech developers and investments in user-friendly platforms that can help reach the maximum number and create the maximum impact.

Market Dynamics

Digital marketing evolves with AI, AR, social commerce, 5G, and personalization.

The fast-evolving landscape of digital marketing market is due to advancing technology, changing consumer behaviours, and changes in the global market. Key trends to watch out for are AI and ML-driven personalization, segmentation, and predictive analytics. Chatbots and virtual assistants improve customer service, while short-form video and interactive live streaming gains popularity. Micro influencers are more authentic and affordable means of marketing one's brand. SEO and engagement improve with more interactive high-quality content; optimization of voice search becomes increasingly important.

As per the digital marketing report, social commerce integrates shopping into social media platforms, emphasising data privacy amid regulatory changes like GDPR and CCPA. AR and VR enhance e-commerce experiences, and omnichannel marketing ensures seamless customer journeys, propelling the digital marketing market dynamics and trends. Programmatic advertising optimises ad spend using AI and real-time bidding, while CX focuses on personalised interactions and feedback. Brands align with social and environmental causes, leveraging 5G technology for mobile marketing. Ephemeral and user-generated content build engagement and trust, emphasising personalised, socially responsible digital marketing strategy.

India's rollout of 5G on October 1, 2022, extended to 700 districts within eight months, spanning 200,000 sites across 28 states and 8 Union Territories, thereby stimulating growth in the digital marketing market size in India.

Growth Drivers

Social commerce and voice search optimization drive growth by integrating e-commerce and enhancing visibility.

Social Commerce Integration remains an essential part of the market growth by integrating e-commerce on social platforms. It allows direct purchasing to be done within social networks, streamlining the purchase process and eventually enabling users to easily capture consumers and further their great shopping experience. For instance, Instagram and Facebook shops have made purchasing even easier with shopping possibilities directly in the application, which increases conversion rates and bypasses the digital marketing market growth challenges.

Another driver is voice search optimization. As the demand for such smart speakers grows, brands catch traffic from a growing segment through this optimization. Brands can take advantage of conversational keywords, structured data, and many more to increase visibility and attract users who seek their answers quickly using voice queries for better, more targeted traffic and enhanced user engagement.

Market Restraints

Data privacy, ad fatigue, high costs, and ad blocking hinder growth.

Data privacy concerns are a significant restraint, whereby harsh regulations such as GDPR and CCPA curtail how brands gather and use consumer data. It decreases the effect of the campaign when there are ad-fatigue issues, and users are indifferent to ad banners that are too repetitive. Moreover, advanced technologies are costly, and AI and AR are out of the competitive league for a number of small businesses. Ad-Blocking software further reduces the reach of digital advertising, which is rapidly escalating because of increasing consumer use of such tools to avoid interruptions. These factors combined collectively act against the interests of market growth and effectiveness and impedes the flow of digital marketing industry revenue.

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Global Digital Marketing Industry Segmentation

“Digital Marketing Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Digital Channel

• Email Marketing
• Search Engine Optimisation (SEO)
• Interactive Consumer Website
• Online/Display Advertising
• Blogging and Podcasting (Including Microblogging)
• Social Network Marketing
• Mobile Marketing
• Viral Marketing
• Digital OOH Media
• Online Video Marketing
• Others 

Market Breakup by End Use

• Automotive
• BFSI
• Education
• Government
• Healthcare
• Media and Entertainment
• Others

Market Breakup by Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa

Market Analysis By Digital Channel

Interactive consumer websites to dominate the market during the forecast period

The interactive consumer website segment will gain traction with an expected 14.9% CAGR through 2034, as it enhances user engagement through personalised and dynamic content. These websites offer real-time interactions, including live chats or personalised recommendations to improve customer experience and drive higher conversions. With technology continuing to evolve, it will be possible for businesses to create even more engaging and responsive websites-in other words, exactly what consumers are asking for from a riveting and instinctive digital experience.

As per digital marketing market analysis, email marketing demand is rising as a result of affordability and the fact that one can reach a consumer directly with personalised messages, hence commanding high levels of engagement and conversion rates. SEO is also important since firms try to raise their presence and organic search engine rankings out there in a competitive digital space. Online/display advertising with its wide reach and targeting capability, enables brands to connect with an audience effectively. Blogging and podcasting are gaining momentum since they serve to establish brand authority by providing valuable content to the audience.

Moreover, as consumer interactions and brand engagements over social networking sites go up, the role of social network marketing increases. With smartphones on the rise, mobile marketing is growing since service providers can advertise location-based messages anywhere. Viral marketing involves creating engaging content that will spread the word about a brand quickly through social sharing. Digital OOH media are increasingly taking the form of digital billboards and screens in high-traffic areas. Lastly, online video marketing continues to grow in the popularity of video content to create fresh ways to engage audiences and drive brand storytelling in the digital marketing market.

By End-Use Analysis

Media and entertainment sector to use digital marketing strategies on a broader scale

The media and entertainment industry continues to show growth, from new digital content consumption to a rising demand for more interactive experiences, garnering a 14.9% CAGR through 2032. The consumers of media are getting more engaging than ever with streaming services like Netflix and Disney+, which avail high contents with personalised recommendations, among other features. All this and more is leading to a growth in online gaming and virtual events. As technology continues to advance, it is crucial to note that media and entertainment companies would, with increasing interest, use digital marketing to deliver targeted content and improve user experiences, leading to deeper engagement and greater revenue.

According to digital marketing industry analysis, the automotive companies perceive an increased demand because of the requirement for focused advertisements and virtual showrooms, thereby creating a higher level of interaction with customers for purchasing vehicles online. BFSI enables digital marketing to employ personalised financial offerings and services to acquire new customers and retain existing ones in a highly competitive business. According to the Australian Banking Association's report in 2023, the mutual funds market saw support from 95 Australian banks. By December 2023, Australia's managed funds sector experienced a $176.6 billion (3.9%) increase, as reported by the Australian Bureau of Statistics, thus driving demand in the digital marketing market size.

Similarly, academic institutions are turning to the digital way to communicate to the students and parents, thus promoting their online courses and offering them virtual campus tours for better admissions.

Government agencies also involve themselves in the use of digital marketing to reach public services, policies, and emergency information to everyone, which increases the reach and engagement of the citizens at large. In 2023, the Ministry of Information and Broadcasting in India introduced a digital advertisement policy allowing websites with at least 250,000 unique users monthly, alongside digital platforms like OTT and podcasts, to participate in government publicity campaigns. This initiative empowers the Central Bureau of Communication (CBC) to conduct campaigns effectively in the digital media sphere thus boosting the digital marketing market's worth. Healthcare providers engage patients more effectively in their care and education via digital marketing, running select campaigns and employing its telehealth services to connect with and educate the patients. All of these factors aids in the growth of the digital marketing market.

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Digital Marketing Market Regional Insights

North America Digital Marketing Market Dynamics

North America remains a prominent market region and is projected to sustain its leadership in the forecast period. Known for its technological advancements, the region fosters significant opportunities for innovation within the digital marketing industry. Market players are increasingly adopting advanced technologies to enhance their capabilities and provide more effective marketing solutions, contributing to a favourable market outlook.

According to the Government of Canada's annual advertising activity report for 2022-2023, spending on advertising totalled USD 86.09 million thus boosting the digital marketing industry in North America. 

Europe Digital Marketing Market Opportunities

Advanced technologies, such as AI and machine learning, are being rapidly implemented in Europe to effectively personalise and target the digital marketing marketplace. Growing awareness of data privacy and compliance with respective regulations, such as the GDPR, is driving market dynamics toward companies making marketing more transparent and secure. Besides that, fast-growing high-speed internet and mobile device penetration across the region further supports the adoption of digital channels and innovative marketing techniques.

Real-time bidding for online display ad slots is accelerating while video ad and rich media ad consumption is on the rise; both will continue to drive growth in Western European display advertising spending. Digital out-of-home (OOH) media is expected to primarily expand in developed countries, such as the installation of digital screens at gas stations and other locations.

Moreover, television remains popular in Germany, with 72% of daily viewers in 2020 according to ITA's 2023 report, contributing to the expansion of the size of the digital marketing market.

Asia Pacific Digital Marketing Market Trends

The digital marketing market share in Asia Pacific region will gain the fastest growth in the global market with a 15.9% CAGR during the forecast period. The region is home to over 2.7 billion internet users by 2023 and drives the demand for digital marketing. For instance, a forecast of over $100 billion to be spent on pure digital ads by 2024 in China alone. The high mobile penetration in the region, over 80% of the region's internet users using their mobile devices to access the web, continues to underpin demand for mobile advertising. Besides, increasing consumer spending, illustrated by the booming Indian e-commerce market and urbanisation, catalyses the innovation and expansion of digital marketing.

Digital advertising investment in the Asia Pacific region, notably driven by countries like China and emerging markets in Asia, is rising due to increased technology investments and the growing use of digital platforms. The Asia Pacific is expected to lead the market share in the coming years, buoyed by its dense population, expanding internet penetration, and rising smartphone ownership. This region has the highest number of smartphone users worldwide, and a reasonable percentage have access to social media; high growth potential for online advertising.

In India, the Central Bureau of Communication, under the administrative control of the Ministry of Information and Broadcasting, sanctioned an amount of USD 11.71 crore for publicity of government schemes in print media for reprints during 2019-20 to 2023-24. Also, the registered number of periodicals, has gone up from 1,19,995 as of March 2019 to 1,48,363 in 2023, reflecting increasing reach and potential for advertisement in the Print Media segment.

Latin America Digital Marketing Market Driving Factors

Latin America also has the potential to take over in digital marketing, as the region is home to rapidly increasing internet users and rising smartphone penetration. In 2023, Latin America had more than 450 million Internet users, with mobile Internet users above 70% of its population. For example, Brazil's ad spending on digital is expected to be near $9 billion by 2025-a fact that points to the expanding digital economy of the region. Besides that, WhatsApp and Instagram are also being used vastly for personal and business aspects. Hence, considering local taste and trends, the demand of the digital marketing market in the region is going up with a positive curve.

Middle East And Africa Digital Marketing Market Insights

The Middle East and Africa have become one of the significant destinations due to remarkable internet and mobile penetration. More than 1.2 billion people were using the internet in the region in 2023. Mobile use is on its way to further growth. This is evident from the fact that digital ad expenditure in the UAE is projected to reach a value of US$1.8 billion by 2025, reflecting the robust growth of the region's market. Moreover, e-commerce has grown at an increasing pace in the countries of South Africa, and the adoption of digital platforms for marketing and reaching consumers is encouraging the market growth at a faster rate. The young population and increased digital infrastructure within the region further accelerate the growth of the toys industry.

Market Overview of Innovative Digital Marketing Startups

Startups in the digital marketing market are focusing on novelty products that cater to customer needs in an advanced manner using AI, machine learning, and other technologies that will make personalization and automation possible. Their focus includes data-driven insights, optimization of digital ad campaigns, and emerging platforms, including social media and interactive content. Many startups will work in developing different ways of enhancing customer engagement while innovating affordable and effective means of conducting marketing strategies for very specific consumer behaviours and preferences.

HubSpot is an integrated platform for inbound marketing, sales, and customer services, founded in 2006. Content management, SEO tools, social media marketing, email marketing, and analytics are some of the important components of HubSpot. The company's products are geared toward helping businesses design how to attract, engage, and delight customers in an integrated way.

Sprout Social is a social media management software started in 2010 that offers scheduling, analytics, and engagement. It helps organisations manage their presence and measure their performance while underlining how to better optimise strategies toward higher levels of engagement and delivery. These two aforementioned startups are at the forefront when it comes to using technology in the best possible way to augment the bigger cause of digital marketing.

Competitive Landscape

Digital marketing market players have been ramping up investments in advanced technologies such as AI, machine learning, and natural language processing to deliver personalised and automated services. They are also expanding through mergers and acquisitions and strategic partnerships into global expansion, data-driven campaign optimization and targeting, and adaptive trends and platforms that continue to change. Such trends in the digital marketing market can open up new avenues for the global market.

Key Market Players

Key industry leaders in this industry are:

Accenture Plc: Dublin, Ireland, based Accenture, was established in the year 1989 and operates globally as a pure play management consulting and professional services company, specialising in digital, cloud, and security solutions.

IBM Corporation: IBM is a well-established global technology company headquartered in Armonk, New York; it was incorporated in the year 1911. It is well-known for providing unparalleled service in hardware, software, cloud computing, and artificial intelligence solutions to virtually all countries around the world.

Dentsu Group Inc: Established in the year 1901 and headquartered in Tokyo, Japan, Dentsu Group is one of the well-known world conglomerates that operates within the business sector of advertising and public relations. It is also known for providing different marketing and communication services.

Havas Group: It is a worldwide advertising and communications company, originally founded in 1835. The group is headquartered in Paris, France, and occupies a leadership position among the biggest groups in its category, with integrated marketing services on a global scale.

The global digital marketing market key players are WebFX, RAPP Worldwide Inc., Disruptive Advertising, Thrive Internet Marketing Agency, TopSpot Internet Marketing, and PB&J Promotions LLC, among others.

Recent Developments

May 29, 2024

Cavefish, a UK AI business, introduced a tool for content marketing that integrates business needs like personas, audience data, SEO, and content topics, generating online content via a digital platform.

May 29, 2024

Quantcast launched a self-service platform to simplify advertising on the open web for independent agencies and advertisers, democratising access to audience insights amid privacy concerns over traditional cookie-based methods.

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