Digital Marketing Market Report and Forecast 2023-2028

According to the report, the global digital marketing market attained a value of USD 477.8 billion in 2022. Aided by the increasing internet penetration and the growing adoption of smartphones, the market is projected to further grow at a CAGR of 9.1% between 2023 and 2028 to reach a value of USD 807.92 billion by 2028.

The promotion of various products, services, and brands with the aid of digital channels such as search engines, websites, social media, email, and mobile applications, among others is known as digital marketing. It utilises various online platforms and technology to reach consumers and drive brand awareness, generating leads, and increasing sales. Increasing internet penetration and smartphone adoption are the primary factors driving the growth of the digital marketing market. The proliferation of smartphones and the widespread availability of affordable internet services have led to a significant surge in the number of internet users worldwide. This has enabled businesses to target a vast audience by adopting digital marketing strategies, which has, in turn, boosted the market growth.

The rising focus on data-driven marketing strategies is another key trend propelling the growth of the digital marketing market. Marketers are increasingly relying on data analytics to gain insights into consumer behaviour, preferences, and trends, enabling them to create personalised marketing campaigns that drive customer engagement and conversions. The growing importance of data-driven marketing has also led to an increased demand for marketing automation tools and platforms, which help businesses streamline and optimise their digital marketing efforts.

The rapid growth of e-commerce and online shopping has significantly contributed to the expansion of the digital marketing market. E-commerce businesses heavily rely on digital marketing strategies to attract customers, enhance brand visibility, and boost sales. The increasing competition in the e-commerce sector has further intensified the need for effective digital marketing solutions to stay ahead of the competition. Additionally, the growing emphasis on social media marketing has positively impacted the digital marketing market. The rising popularity of influencer marketing and the growing trend of video content marketing on platforms like YouTube and TikTok have also spurred the growth of the market for digital marketing.

Market Segmentation

The market can be divided on the basis of digital channel, end user, and region.

Market Breakup on 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 Division by End User:

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

Market Segregation by Region:

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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global digital marketing companies. Some of the major key players explored in the report are as follows:

• Accenture Plc
• IBM Corporation
• Dentsu Group Inc
• Havas Group
• WebFX
• RAPP Worldwide Inc
• Disruptive Advertising
• Thrive Internet Marketing Agency
• TopSpot Internet Marketing
• PB&J Promotions LLC
• Others

*The publisher always strives to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.