Digital Marketing Market Size, Share & Industry Report | 2030 (2024)

Digital Marketing Market - By Digital Channel (E-Mail Marketing, Search Engine Optimization (SEO), Interactive Consumer Website, Online Display Advertising, Blogging and Podcasting..., Social Networking Market, Mobile Marketing, Viral Marketing, Digital OOH Media, Online Video Marketing, Others (Content Marketing, Affiliate Marketing, etc.)), By End Users, (Retail & E-Commerce, Automotive, IT & Telecom, Government, Banking, Financial Services and Insurance (BFSI), Healthcare, Media and Entertainment, Others (Education, Food & Beverage, etc.)), By Organization Size, (Small & Medium, Large), By Region, (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Cuker, Disruptive Advertising, Ignite Visibility, Location3Media, PB & J Promotion LLC, Split Reef LLC, Thrive Internet, Marketing Agency, Top Spot Internet Marketing, Web FX, Web Net Creatives, Foxy Moron, Act-on Software, Inc., Active Campaign, Inc., Acquia Inc., 9thCO Inc., GH Digital Media Pvt Ltd, NP Digital India, etc) Read more

• ICT & Electronics
• Oct 2023
• Pages 198
• Report Format: PDF, Excel, PPT

Market Insights & Analysis: Global Digital Marketing Market (2024-30):

The Global Digital Marketing Market size was valued atUSD 780 billion in 2023andis estimated to grow at a CAGR of around 11.1% during the forecast period, i.e., 2024-30. Digital Marketing is online marketing, where organizations use digital channels like search engines, social media, email, mobile apps, and websites to promote a product or service.The increasing adoption of digital marketing services like e-mail marketing, content marketing, etc., by organizations are some ofthe influencing factors affecting the market expansion. In recent years, there has been a surge in internet penetration & smartphone accessibility in countries like India, the UAE, Brazil, and others. According to the Global System for Mobile Communications Association (GSMA), in 2023, the total number of mobile phone users worldwide wasapproximately 5 billion, which was an increase of about 4.9% compared to 2022.

This surging penetration in smartphones & internetis creating a large base of audiences on online platforms like Instagram, Facebook, etc. As a result, end-user industries like automotive brands, consumer goods companies, etc., are looking to promote their products on these channels, further embracing digital marketing services.

In addition, consumers, especially genZ, nowadays prefer to make purchases of commodities like apparel, shoes, etc., after watching its promotional advertisem*nt on media platforms. Therefore, brands such as Ajio, H&M, and others, seek to advertise their products online to position themselves ahead of their competitors & attract more consumers to purchase the products.

Global Digital Marketing Market Driver:

Rise in Internet Connectivity Rates - The widespread adoption of the internet has fundamentally transformed how people connect, communicate, and access information globally. With an ever-expanding number of internet users worldwide, businesses have started considering digital marketing a crucial strategy to effectively reach their target audiences.

The increasing rates of internet penetration have broadened the potential customer base, empowering marketers to utilize various online platforms like social media, news websites, email marketing, and websites to connect with users and promote products and services.

Consequently, this evolution has reshaped the marketing landscape, leading businesses to allocate more resources to digital marketing initiatives to maintain competitiveness in the digital era. Furthermore, the surge in mobile internet usage has contributed to market growth, with mobile devices emerging as a primary medium for internet access and content consumption. This trend opens up new opportunities for businesses to engage with consumers on the go, emphasizing the significance of adapting marketing strategies to cater to the mobile audience.

Global Digital Marketing Market Challenge:

High Cost of Digital Market Advertising Limits the Adoption in Small & Medium Scale Organizations – Digital marketing involves several activities like digital marketing campaigns, pay-per-click activities, etc., which makes these services relatively costlier than traditional advertising services. As a result, small-scale & medium enterprises that seek to opt for cost-effective offline services like handouts, newspapers, etc., have limited adoption of these services, thus hindering the Global Digital Marketing market. Moreover, to promote their products to the audiences, these enterprises tend to follow the conventional approach and run their marketing campaigns offline by distributing pamphlets, consequently limiting the market expansion.

Global Digital Marketing Market Trend:

Increasing Inclination of End-User Industries Towards Influencer Marketing– Currently, there has been an upward trend in the usage of social media platforms by Gen Z & millennials. The individuals usually watch content such as parody videos, songs, and others delivered by their favorite influencers. For instance, in 2023, Khaby Lame was recognized as one of the leading influencers on social media platforms like TikTok & Instagram. By considering influencer marketing as a great strategic marketing process, the organizations are collaborating with these artists to promote the company’s latest products on theirsocial media platformsso that the products catch the attention of millions of individuals who follow that particular influencer. Hence, the growing inclination of organizations toward online influencer marketing is amplifying the Global Digital Marketing Market.

Global Digital Marketing Market Market (2024-30): Segmentation Analysis

The Global Digital Marketing Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-2030at the global levels. Based on the analysis, the market has been further classified as:

Based on Digital Channel:

• E-Mail Marketing
• Search Engine Optimization (SEO)
• Interactive Consumer Website
• Online Display Advertising
• Blogging and Podcasting
• Social Networking Market
• Mobile Marketing
• Viral Marketing
• Digital OOH Media
• Online Video Marketing
• Others (Content Marketing, Affiliate Marketing, etc.)

Social Networking marketing emerged as the leading digital channel among others and is presumed to account for the potential share of the Digital Marketing Market. The prominence of social network marketing stems from its extensive outreach, potential for engagement, and targeted advertising capabilities in the contemporary digital sphere. With billions of users actively participating on diverse social media platforms, businesses can effectively reach a broad and varied audience to promote their products & services. Social media platforms enable direct engagement with customers, nurturing brand loyalty & fostering a personable brand identity. Furthermore, the capacity to share content on social networks aids in boosting brand visibility & expanding its online footprint, thereby fueling the growth of this sector across the global market.

Based on End Users:

• Retail & E-Commerce
• Automotive
• IT & Telecom
• Government
• Banking, Financial Services & Insurance (BFSI)
• Healthcare
• Media & Entertainment
• Others (Education, Food & Beverage, etc.)

The media and entertainment sector primarily requires digital marketing services for promoting films, songs, etc. As a result, the share of Media and entertainment in Global Digital Marketing is witnessing remarkable growth. Digital marketing services provide targeted advertising and multi-channel marketing and enable the content delivered by the media & entertainment industry to reach a global audience. Whenever a movie/song is released, the producers do digital advertising on social media platforms, podcasts, etc., to create awareness and buzz among individuals regarding upcoming releases. This soaring usage of digital marketing services by the film fraternity to attract individuals from different regions & different communities to watch their releases is further ramping up the Global Digital Marketing market.

Global Digital Marketing Market (2024-30): Regional Projection

Geographically, the Global Digital Marketing Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America holds a significant market share in the Global Digital Marketing market due to the prevalence of several end-user industries in the region. Traditionally, North American countries have a higher internet penetration rate & greater access to smartphones, and users in countries like the US & Mexico spend most of their time on their phones. According to the Tech Jury, in 2022, the average time spent by Americans on their smartphone was more than 4 hours. As a result, tech giants, telecom companies, automotive industries, and others such as Facebook, AT&T, Tesla, etc., in these countries are embracing digital marketing services to target more audiences & penetrate their products into larger markets.

Global Digital Marketing Industry Recent Development:

• Leading digital marketing and design firm Cuker and well-known pizza company Wild Mike's Ultimate Pizza forged a strategic alliance in January 2023. Through this partnership, Wild Mike's web presence and digital marketing initiatives will be transformed, propelling the company to new heights in the cutthroat pizza industry. Under the terms of the agreement, Cuker will use its knowledge of e-commerce, web design, and digital marketing to create a state-of-the-art online platform for Wild Mike's Ultimate Pizza.
• Leading marketing experience company Rise Interactive (Quad) announced in July 2023 that it is expanding its clientele by adding Nielsen-Massey Vanillas, a national producer of the best pure vanilla and flavors in the world, to its growing list of customers who choose the company's integrated marketing offering to help them rethink their brand-building efforts and drive sustainable growth. Periscope and Rise Interactive are the creative and digital agencies that work with Rise Interactive. The business victory involves brand and creative creation, which will be bolstered by the performance marketing skills of Quad's digital agency, Rise Interactive, under the direction of Periscope, the award-winning creative agency of Quad.
• To improve its extensive range of site development and digital marketing solutions, TopSpot Internet Marketing, a top digital marketing business, added corporate and industrial video production to its list of services in August 2021. The company hopes to provide its clients a strong platform to engage people and convey strong brand messages with this calculated approach. With the addition of corporate and industrial video production services, TopSpot can now offer visually stunning, expertly produced videos that are customized to meet the specific requirements of each client.

Gain a Competitive Edge with Our Global Digital Marketing Market Report:

• Global Digital Marketing MarketReport by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Global Digital Marketing Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.