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Growing preference for smartphones will aid to the growth of the digital marketing spending market globally

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Digital marketing spending: Key market research findings

  • The Americas dominate the market geographically
  • Advanced targeting options drives market growth
  • Key vendors – AT&T, Comcast, General Motors, P&G, and Verizon

Technavio’s market research analysts predict the global market with digital marketing spending to grow at a CAGR of around 9% between 2016 and 2020. The growth of the market can be accredited to the increasing demand for real-time data analytics. Real-time analytics analyze negative feedback on enterprise products in real time and design marketing activities to counter it. It serves as the backbone for interactive media marketing solutions. This enables enterprises to track the performance of their marketing campaign, even up to the level of a single buyer. During 2015, the global digital marketing spending market was dominated by the Americas with a market share of more than 43%. The growing popularity of digital medium and rise in the number of social media users are expected to further fuel the growth of the digital marketing spending market in the Americas during the forecast period.

The new market research report from Technavio presents a breakdown and analysis of the digital marketing spending segments based on the device.

“Advanced targeting options made available through digital marketing is one of the primary drivers for growth of the market. As digital media gathers such large amount of user information, advertising media are able to target audience through multiple methods apart from online platforms. Digital media advertising enables targeting based on interest, behavior, and connection across demographic and geographic barriers,” says Ujjwal P. Doshi, Lead Analyst, Media & Entertainment, Technavio Research.

By 2020, mobile devices segment will account for nearly 57% of the overall market revenue to become the key revenue generating segment of the global market. According to our analysts, more than half of the global feature phone user population will switch to smartphones during the forecast period. The penetration of smartphones will further increase the effectiveness of mobile ads owing to easy accessibility of personal and professional information. Furthermore, digital marketing apps that are designed for mobile devices regularly track use and further increase the relevance of advertisements.

 The key vendors in the global digital marketing spending market include AT&T, Comcast, General Motors, P&G, and Verizon. Digital advertising is the fastest-growing segment of the global market for advertising spending. The increasing use of smartphones and the availability of cheap internet services are the two major factors propelling the growth prospects for this market. More than 30% of the companies are planning to spend around 75% of their advertising expenditures on digital marketing within the next five years.

A more detailed analysis is available in the Technavio report, Global Digital Marketing Spending Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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