Global Digital Marketing Market Size, Share, Growth, Analysis: By Digital Channel: Email Marketing, Search Engine Optimisation (SEO), Interactive Consumer Website, Online/Display Advertising, Blogging and Podcasting, Social Network Marketing, Mobile Marketing, Others; By End User; Regional Analysis; Competitive Landscape; 2024-2032

Global Digital Marketing Market Size

The digital marketing market reached a value of approximately USD 363.05 billion in 2023. The market is projected to grow at a CAGR of 13.1% between 2024 and 2032, reaching a value of around USD 1099.33 billion by 2032.

Digital Marketing Market Outlook

• The Australian Bureau of Statistics noted a 7.8% increase in digital activity worth $8.6 billion in 2020-21 in Australia.

• In 2023, China's 1.076 billion mobile internet boosted the global digital marketing market 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 Growth

Digital marketing promotes products or services online, utilising platforms like the internet, mobile phones, and digital displays. Key strategies include SEO, SEM, content and campaign marketing, display and social media ads, and engaging customers across digital channels, including mobile platforms like SMS, MMS, and mobile ringtones.

According to the Ericsson Mobility Report, worldwide mobile subscriptions reached 8,460 million in 2023 and are expected to hit 9,210 million by 2029. Additionally, fixed broadband connections numbered 1,450 million in 2023, supporting the expansion of the global digital marketing sector.

Digital Marketing Industry Overview

The global expansion of the digital marketing industry is fuelled by increased internet access worldwide, facilitated by the widespread adoption of smartphones and smart devices. Social media platforms like Instagram and Facebook play a pivotal role by providing direct engagement opportunities with target audiences, prompting businesses to establish active social media pages for direct customer interaction.

Meta’s revenues increased from USD 117,929 million in 2021 to USD 134,902 million in 2023, which are primarily derived from advertising, indicating a growing opportunity in the digital marketing industry.

Key Trends and Developments

Growing artificial intelligence, the rise of interactive content, the emergence of mobile creators and the focus on niche content are the major trends impacting the digital marketing industry growth rate.

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.

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.

Growing artificial intelligence

It enables extensive personalised content creation tailored to individual user preferences, revolutionising content creation and consumption through AI-driven recommendation algorithms.

Rise of interactive content

The rise of interactive content such as quizzes, polls, and interactive videos demonstrates creators' growing focus on engaging audiences actively, prioritising participatory experiences and user interaction.

Emergence of mobile creators

The increasing availability and functionality of smartphones, coupled with user-friendly editing apps, democratises content creation, leading to a widespread production of user-generated content.

Focus on niche content

With an overflow of content, audiences now prioritise authenticity and specialised content, encouraging creators to excel by concentrating on niche subjects and fostering resolute communities.

Global Digital Marketing Market Trends/Drivers

The digital marketing landscape is evolving swiftly due to technological advances, shifts in consumer behaviour, and global market dynamics. Key trends include AI and ML-driven customisation, segmentation, and predictive analytics. Chatbots and virtual assistants enhance customer service, while short-form video and interactive live streaming grow in popularity. Micro-influencers are valued for their authenticity and cost-effectiveness in marketing. Interactive, high-quality content enhances SEO and engagement, with voice search optimisation becoming increasingly vital.

As per the digital marketing industry 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. 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.

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Global Digital Marketing Market Segments

“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

Global Digital Marketing Market Share

SEO enhances the digital marketing industry growth by improving a website's search engine ranking, resulting in higher organic traffic through effective digital channel strategies.

Email marketing is cost-effective, yielding high ROI with minimal operational expenses. It targets and personalizes communication, boosting engagement and conversion rates. Detailed analytics track metrics like open rates and conversions, guiding data-driven decisions. Regular emails foster customer retention and loyalty, scalable for a broad audience reach.

SEO enhances website visibility on SERPs, increasing organic traffic cost-effectively by minimising ad spend. High rankings build credibility and trust, optimising site structure and content for improved user experience. Long-term benefits include sustained organic traffic beyond initial efforts.

Interactive features like quizzes and polls engage users, prolonging website visits and enhancing conversion rates through personalised interactions. Data from interactive elements informs targeted marketing strategies, offering a competitive edge with engaging user experiences. Interactive content's shareability on social media extends its reach effectively.

In the BFSI sector, digital marketing market share is bolstered by enhancing customer acquisition via targeted campaigns and personalised communication strategies.

In the BFSI sector, digital marketing improves customer acquisition through targeted campaigns and personalised communication. It enhances ongoing customer engagement and retention by providing valuable content and educational resources, thereby establishing trust and credibility. SEO and PPC strategies increase visibility and effectively attract potential clients. Social media and email marketing deepen customer relationships, while AI-driven insights deliver personalised financial advice. These digital strategies ensure cost efficiency and compliance with regulations, utilizing market insights to enhance services and expand accessibility.

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 industry market size.

Digital marketing expands the automotive industry's global market presence, effectively targeting national and international audiences. Utilising data-driven insights, it customises advertising to engage potential buyers through interactive tools like virtual tours and configurators. Digital platforms streamline lead generation and nurture processes, while social media and email campaigns enhance brand loyalty. SEO and PPC strategies drive traffic to dealership websites, optimising sales opportunities. Real-time analytics provide actionable insights, and digital marketing proves more cost-effective than traditional methods, supported by continuous customer feedback for product enhancement.

According to ACEA, global motor vehicle production reached 85.4 million units in 2022, marking a 5.7% increase from 2021 and thereby contributing to the growth of the digital marketing industry statistics.

Digital marketing in education expands enrolment by targeting a global audience through customised campaigns. Potential students interact with interactive content, virtual tours, and webinars, deepening their interest and comprehension. SEO and PPC strategies enhance institutional visibility, complemented by community engagement on social media. Email campaigns sustain communication with students and parents, optimising recruitment costs and bolstering brand recognition. Feedback mechanisms drive program enhancements, ensuring efficient enrolment management and sustained educational excellence.

According to the Australian Bureau of Statistics, in 2023, 337,305 children aged 4 or 5 were enrolled in preschool programs, while 4,086,998 students attended 9,629 schools across Australia, underscoring the growth of digital marketing market research within the education sector.

Digital marketing enables governments to engage citizens through targeted campaigns and social media, fostering transparency and trust. SEO and PPC tactics enhance visibility for government services, facilitating seamless interaction and feedback via interactive platforms. Email updates ensure ongoing public engagement, while cost-effective digital outreach supports crisis management and promotes digital inclusion, ensuring equitable access to government information and services.

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 industry worth.

Leading Companies in the Digital Marketing Market

The company specialises in digital marketing services like SEO, PPC advertising, social media marketing, web design, content marketing, and more. They partner with businesses to boost their online presence and achieve increased traffic, leads, and sales through digital channels.

Accenture Plc: Founded in 1989 and based in Dublin, Ireland, Accenture operates globally as a leading provider of management consulting and professional services, focusing on digital, cloud, and security solutions.

IBM Corporation: Established in 1911 and headquartered in Armonk, New York, IBM is a prominent multinational technology company renowned for its extensive offerings in hardware, software, cloud computing, and AI solutions worldwide.

Dentsu Group Inc.: Formed in 1901 and headquartered in Tokyo, Japan, Dentsu Group is a distinguished global conglomerate specializing in advertising and public relations, recognized for its wide-ranging marketing and communication services.

Havas Group: With origins dating back to 1835 and headquartered in Paris, France, Havas Group stands as one of the largest global advertising and communications organizations, delivering integrated marketing solutions across the world.

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.

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Global Digital Marketing Market Analysis by Region

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 size.

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 digital marketing market share in the coming years, buoyed by its dense population, expanding internet penetration, and rising smartphone ownership. This region boasts the largest number of smartphone users globally, with a sizeable portion having access to social media, which presents substantial growth opportunities for online advertising.

In India, the Central Bureau of Communication, under the Ministry of Information and Broadcasting, allocated USD 11.71 crore for publicity of government schemes in print media from 2019-20 to 2023-24. The number of registered periodicals, including newspapers, increased from 1,19,995 in March 2019 to 1,48,363 in 2023, indicating growth in print media reach and potential for advertising.

The growth of display advertising spending in Western Europe is anticipated to be boosted by the rising adoption of real-time bidding (RTB) for online display ad slots, along with increased consumption of video ads and rich media formats. 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 digital marketing industry.

Recent Developments:

In April 2024, Marin Software, a prominent platform for optimising digital marketing, introduced its Anomaly Detector. This innovative tool automatically detects and consolidates unexpected outcomes in performance marketing campaigns on platforms like Google, Meta, and Amazon. This feature provides brands and their agencies with timely, contextualised insights, enabling quicker action, informed decision-making, and the ability to seize opportunities effectively.

Key Highlights of the Report

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Digital Marketing Market Report Snapshots

Digital Marketing Market Size

Digital Marketing Market Growth

Digital Marketing Market Trends

Digital Marketing Market Share

Digital Marketing Companies

Digital Marketing Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.