The digital marketing industry is always changing and evolving, so it’s hard to know just how big it actually is. This guide will help you understand just how much money there is to be made in the digital marketing industry, who makes it, and how companies are using digital marketing to keep their businesses growing. By gaining this knowledge, you can help your own business flourish by choosing the right digital marketing strategy for you.
How Big is the Digital Marketing Industry?
The digital marketing industry is growing rapidly as businesses increasingly adopt digital marketing strategies. In 2019, the global digital marketing industry was valued at $120 billion and is expected to reach $296 billion by 2025. The United States alone accounted for $49.2 billion of the global industry in 2019.
The digital marketing industry employs over 4 million people worldwide and this number is expected to grow to 8 million by 2022. With such rapid growth, it’s no wonder that so many people are interested in learning more about digital marketing!
Market Size by Industry
The digital marketing industry is growing rapidly as more and more businesses are turning to the internet to reach their target audiences. The industry was worth an estimated $62 billion in 2019 and is expected to grow to $103 billion by 2027.
This means that there are plenty of opportunities for those looking to start a career in digital marketing. However, it also means that the competition is stiff. If you want to be successful in this industry, you need to stand out from the crowd.
Market Size by Region
In 2018, North America was the largest region for digital marketing, accounting for 42 percent of the global market. This was followed by Asia Pacific (APAC) at 26 percent, Western Europe at 18 percent, and the rest of the world at 14 percent.
By 2023, APAC is expected to take the lead with 43 percent of the global market, followed by North America at 39 percent, and Western Europe at 17 percent. The digital marketing industry is growing rapidly all over the world, with the Asia Pacific leading the way.
Market Size by Type of Clients
The global digital marketing industry is growing at a rapid pace. Here are some numbers to give you an idea of its size by type of clients:
-B2C: $13.4 trillion in 2022
-B2B: $6.7 trillion in 2022
-C2C: $3.9 trillion in 2022
-D2C: $1.8 trillion in 2021
-I2C: $0.8 trillion in 2018
These numbers show that businesses of all types are investing more and more in digital marketing and that the industry is only going to continue to grow. If you’re thinking about starting a career in digital marketing, now is the time!
Market Size by Budget Range
The global digital marketing industry is growing rapidly, with businesses of all sizes allocating larger budgets toward digital marketing initiatives. In 2022, businesses spent an average of $10,000 on digital marketing, with small businesses spending $1,000-$5,000 and enterprises spending $100,000 or more. The majority of businesses (60%) allocate between 6-10% of their total marketing budget to digital marketing efforts.
Challenges and Opportunities in this Field
The global digital marketing industry is forecast to be worth $146.5 billion by 2025, up from $120.7 billion in 2018. This represents a compound annual growth rate (CAGR) of 4.0%.
North America is currently the largest market for digital marketing, accounting for 42.8% of the global total, followed by Europe (26.9%), Asia-Pacific (20.1%), Latin America (6.1%), and the Middle East & Africa (4.2%).