The trend of digital marketing is expanding tremendously, where businesses, companies, and organizations adopt and use digital channels, such as search engines, social media, email, mobile apps, and websites to endorse a product or service. Conferring to the latest research report published by MarkNtel Advisors, the Global Digital Marketing Market size was valued at USD 780 billion in 2023 and is assessed to grow at a CAGR of around 11.1% during the forecast period, i.e., 2024-30.
One of the major factors propelling the market growth is the escalating implementation of digital marketing services like e-mail marketing, content marketing, etc., by organizations & businesses. The soaring internet penetration globally and the easy accessibility to smartphones & electronic gadgets are also leading to market growth. Moreover, the rising trends of online shopping and the tremendous usage of social media are also significant contributors to the growth of the Global Digital Marketing Market.
Major Key Players in the Global Digital Marketing Market
The top market players in the Global Digital Marketing Market include 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. These market contenders hold a substantial share in the market and have a robust stance.
Evaluating the Distinctive Segmentation of the Global Digital Marketing Market
- By Digital Channel (E-mail Marketing, Search Engine Optimization (SEO), Interactive Consumer Website, Online Display Advertising, Blogging & Podcasting, Social Networking Market, Mobile Marketing, Viral Marketing, Digital OOH Media, Online Video Marketing, and Others (Content Marketing, Affiliate Marketing, etc.))
- By End Users (Retail & E-commerce, Automotive, IT & Telecom, Government, Banking, Financial Services and Insurance (BFSI), Healthcare, Media & Entertainment, and Others (Education, Food & Beverage, etc.))
- By Organization Size (Small & Medium and Large)
- By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)
The Media & Entertainment segment holds a substantial position in the Global Digital Marketing Market owing to their mandatory requirement of digital marketing services to endorse their films, songs, etc. Digital Marketing services offer focused & targeted advertising and multi-channel marketing, thus enabling the content delivered by the media & entertainment industry to spread across the world. The majority of the producers opt for digital advertising via social media platforms, podcasts, etc., to promote their movies or songs to create buzz among the audience regarding upcoming releases. Moreover, the extensive usage of digital marketing services by the media and entertainment segment to reach a wide range of audiences is further propelling the overall growth of the Global Digital Marketing Market.
North America dominates the Global Digital Marketing Market and is anticipated to continue its dominance in the coming years as well given the existence of numerous end-user industries in the region. The countries in North America are technologically advanced and have better rates of internet penetration along with a massive number of smartphone users making the region dominant in the Global Digital Marketing Market. Due to a vast population spending the majority of their time on smartphones in this region, tech companies, telecom giants, and automotive sectors are implementing digital marketing services to focus on a larger number of audiences & penetrate their products into larger markets.
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