Global Digital Marketing Market Report and Forecast 2022-2027

Global Digital Marketing Market Report and Forecast 2022-2027

Market Outlook

According to the report by Expert Market Research (EMR), the global digital marketing market is being aided by the increasing number of internet users and growing adoption of smart devices. The market is projected to grow at a CAGR of around 9.1% between 2022 and 2027.

Digital marketing, also referred to as online marketing or internet marketing, is defined as promotion of a brand or a company using various digital channels. These digital channels include social media, search engines, email, and OTT platforms, among others. Digital media provide seamless marketing at cheaper costs. Moreover, it allows the agencies to have a proper understanding of their audience, which is a major driving factor of the digital marketing market.

The technological advancements in the electrical and electronics industry, leading to a higher adoption of smartphones, LED TVs, and tablets, among others, are enabling efficient digital marketing. Additionally, the availability of high-speed internet across household and enterprises is further encouraging the penetration of digital marketing.

The increasing number of internet users across the emerging economies is further enabling mobile and email marketing. Currently, social network marketing is at boom owing to the increasing number of millennials using social media platforms for entertainment purposes. This is leading to an increasing penetration of product marketing or brand endorsing on popular social media applications, such as Instagram and Facebook, among others.

Over the forecast period, the anticipated increase in demand for digital marketing in sectors, such as BFSI, is likely to bolster the digital marketing market trend. Digitalisation pushes the reach of marketing campaigns by both private and government sector banks. It helps a bank stretch out to hard-to-reach consumers.

In addition to this, banks and credit unions are bolstering their cooperation to reach to the new markets via digital marketing, which is a major growth aiding factor.

The increasing adoption of digital marketing strategies by the retailers to diffuse information about a product to their potential customers is further increasing the demand for online/display advertising. Meanwhile, the emerging online video market, which can be attributed to the growing popularity of short video streaming platforms, are likely to be the key marketing strategies which will garner customer retention, leading to a heightened growth of digital marketing market.

In terms of region, North America accounts for a significant share in the market owing to the increasing expansion of the advertising companies. The robust digitalisation across the United States of America and Canada is expanding the opportunities for digital marketing in beauty and cosmetic brands and pharmaceutical companies.

The Asia Pacific region, on the other hand, is anticipated to witness a great growth in the forecast period owing to the large number of internet users across emerging economies like India and China. The favourable policies encouraging digitalisation in this region are likely to be the crucial trends in the digital marketing market.

For instance, Digital India is a popular initiative by the Indian government which is leading to a transition from traditional to digital marketing.

Market Segmentation

The market can be divided on the basis of digital channels, end-uses, and regions.

Market Breakup by Digital Channel

• Email Marketing
• Search Engine Optimization (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 Segmentation by End-Use

• BFSI
• Pharmaceuticals
• Retail
• Other

Market Breakup by Region

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

Competitive Landscape

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

• iProspect
• Havas SA
• Publicis Sapient
• VML, LLC
• RAPP Worldwide Inc.
• Others

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.