Digital marketing will double by 2026

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 02, 2021, 6:55 PM GMT+0

The digital marketing software market is expected to cross $129 Billion by 2026.

According to a study by Global Industry Analysts, the pandemic has boosted the growth prospects of the digital marketing software industry worldwide. Last year the sector was estimated at $55 billion; the study said the pandemic has made it revise its earlier projections. It now expected the industry to reach the US $129.3 Billion by 2026. 

The report attributes the revision to pandemic-induced trends like a surge in digital ad spending, social media usage, and personalized marketing. Similarly, businesses are increasingly adopting marketing automation software to improve user experience, evaluate consumer behavior and collaborate between teams remotely.  

As far as regional markets are concerned, the digital marketing software industry in the US is estimated to reach the US $20.8 billion in 2026. The corresponding statistic for China is US$17.5 billion. Within Europe, Germany is projected to grow at a compound annual growth rate (CAGR) of 13.7%. 

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